The Launch Director of a rocket destined for space relies on a series of signed-off instructions before a rocket is “go for takeoff.” These operational checklists are meticulously reviewed to assure each flight is executed safely and flawlessly. Similarly, manufacturers must maintain a robust process to efficiently and effectively assess suppliers’ capabilities, operations, and financial stability both early in the supply-building stage and post sourcing to ensure successful production launches and ongoing operations.
Would you recommend using Vendor Managed Inventory (VMI) or Consignment Inventory (CI)? Supply chain management professionals today are asking this daunting question with growing frequency as companies push themselves to do more with less resources.
Implementing and following APQP is critical when keeping your product launch team on track to meet timeline goals and mitigate risk of product quality defects. Although APQP is most commonly used in the Automotive industry, companies across all industries are rapidly adopting this process and making it a standard procedure.
Organizations who look beyond the mere social good of engaging diverse suppliers will reap the largest benefit through decreased supplier risk, improved financial performance and strong, cohesive supply base relationships.
Suppliers that take action to maintain metrics-based supply chain strategies, execute robust supply chain processes, and institute variable and flexible supply chain models will generate superior supply chain performance in the short and long term.
This long term approach to one shot bidding and collaborative costing reduction initiatives will lead to stronger supply partner relationships and enhanced supply chain customer value.
One of the more complex commodities in any industry is metal castings, which have many key commercial factors a procurement professional must consider prior to and during the procurement process.
There are many certifications available for supply chain professionals looking to acquire the skill sets to address the complex supply challenges of today. Certifications also provide added credentials that can allow professionals to advance at their current companies or become more attractive candidates in the job market.
Improving the supplier plant audit process results in an enhanced supplier experience allowing companies to de-risk supply over time by proactively identifying continuous improvement opportunities and developing better relationships with their supply partners.
Actionable insights from IndustryStar on ways to expedite, optimize, and de-risk your supply chain operations.