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.
There is an ever growing focus on how to shorten lead times, reduce inventory levels and increase free flowing cash in just about every industry. One way to approach making a impact on your supply chain’s performance is to identify and evaluate where critical value added activities are taking place. Each of the value added activities are necessary in order to produce a finished product, however there is a tremendous opportunity to postpone performing the value added activities at different stages until there is a clear demand signal from the market.
Efficiency, is a word often associated with automation, time savings, productivity, and now Radio Frequency Identification (RFID). “Driving Efficiency” is a frequently used term in the office, usually followed up with the question; How do we achieve this? One of the technologies that is more recently seeing expansive and creative use to drive efficiency in the Supply Chain world is RFID.
The key to successfully managing logistics comes from a well thought out strategy on how companies will reach the consumer base. Logistics & Inventory Management is a very critical supporting function on how these activities will be executed. Recent studies show that nearly 50% of businesses surveyed continue to see logistics as a nonstrategic business function, while the other 50% are investing in developing logistics as a competitive advantage.
Professionals today at high growth technology companies are asking themselves, “How can my supply chain react quicker to customer demand fluctuation?” The answer is simple, adopt a demand-driven planning process. Sound simple enough? Well unfortunately it’s not that simple but below are some simple steps you can take to start to transform your supply chain to better support consumer demand fluctuation.
Who said logistics is a stand-alone function of the supply chain? Over the past decade, consumer electronics has become one of the fastest growing but also most volatile markets. With its quickly evolving technology and short product lifespans the ability to adapt, particularly with logistics, is a key factor for a company’s long-term sustainability.
Incoterms, or International Commercial Terms, are a set of three-letter trade terms standardized by the International Chamber of Commerce (ICC). Using these terms properly will allow clear communication of the tasks, costs, and risks associated with transporting goods between your supplier (Seller) and your company (Buyer).
The Trans-Pacific Partnership, or TPP, is a free-trade agreement (FTA) being negotiated between 12 countries within the Asia-Pacific ring. The countries included in the pending agreement are the U.S., Japan, Australia, Peru, Malaysia, Vietnam, New Zealand, Chile, Singapore, Canada, Mexico, and Brunei Darussalam. Together, these TPP countries represent approximately 40% of the global GDP and 33% of global trade.
Startups often put a great deal of emphasis on engineering, marketing, and sales in the early product development stages. It is no surprise that these three business functions are essential in launching a successful high growth company. There are also circumstances where products are an early grand slam and less of a sales effort is required.
Actionable insights from IndustryStar on ways to expedite, optimize, and de-risk your supply chain operations.