Each month the Institute of Supply Management makes a calculation called the ISM MFG Index. The U.S. government takes this calculation very seriously, and many companies track it for future planning purposes. Making sure you know how to interpret this number can help you with that same purpose.
Appropriately planning for the time need to complete each PPAP element during the production launch planning stage of new products is critical to ensure products are launched on time and to quality requirements. In our experience conducting both a top down and bottom up estimate of the time needed to PPAP each critical component and system in an end product results in ultimately the most accurate PPAP timelines.
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.
Most people don’t enjoy taking tests and as the time to commence a test approaches many people get nervous. Unfortunately, test taking often shares similarities with plant audits for suppliers across many industries. Our experience has demonstrated that 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.
Focusing on unique component and product quality requirements, especially technical specifications and tolerance levels, in advance of sourcing reduces supply risk by enhancing supply partner qualification criteria.
The growth of online sales has created the expectation among consumers that the next hot product can be manufactured and shipped immediately. A company’s ability to embrace these demand shifts quickly and adapt to changing consumer needs is a major competitive advantage. However, a company must also consider the costs associated with being reactive to these rapidly evolving consumer demand trends.
Law firms have long specialized in efficiently and effectively supplying legal guidance to companies. As with professional legal services, manufacturing a new product is best left to experts that have a core competency in the desired supply need in order to ensure product launch success.
Skills acquired through degrees, certifications, and training allow you to attain the industry position you desire in the job market. As with pursuing a career path by acquiring the needed skills, an organization’s strategy can be realized through selecting the appropriate supporting manufacturing solutions that allow a company to better compete in the hyper competitive global economy.
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.
At this moment, an organization somewhere in the world is struggling to support its customer’s demand requirements. The result from failing to meet customer demand requirements can lead to disruption in product supply, decline in sales, and harm to the company’s reputation.
Actionable insights from IndustryStar on ways to expedite, optimize, and de-risk your supply chain operations.