Many factors should be considered when sourcing tooling, but three simple actions will go a long way toward finding the most cost-effective solution for your organization.
Large OEMs are investing serious capital in carbon fiber production technology, and as a result, the carbon fiber market is growing quicker than ever in the aerospace, sporting goods, and medical industries.
While cost remains a critical element in any sourcing activity, we argue that overall tooling capabilities, experience, and timing are equally important and should be weighted accordingly as part of your decision criteria.
Tap into innovation. Low-volume programs are the ideal programs to leverage new technologies, processes, and suppliers.
Companies who transition their buy to the US should follow a strategic, repeatable approach to generate the best results when sourcing domestically.
Metal fabrication is an art. Understanding a potential metal fabrication supply partner’s capabilities, experience, quality, and costs will put you and your company in the best position to win for the long term.
If procurement professionals can communicate their message for change effectively, create a sense of urgency, and motivate team members to collaborate, then they will successfully lead the implementation of change for their team, department, or entire organization.
Understanding a potential machining supply partner’s capabilities, experience, quality, and costs will put you and your company in the best position to win in the long term.
Teach your team to develop suppliers by analyzing the total cost of ownership, identifying and maintaining supplier performance metrics, and developing strategic partnerships through transparent communication.
When leveraged as part of a supplier development program, supply base optimization can dramatically speed up the implementation and improve the performance of lean supply chain initiatives.
Actionable insights from IndustryStar on ways to expedite, optimize, and de-risk your supply chain operations.