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.
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.
This blog post is the continuation of our Identifying the Factors for Successfully Managing Supply Chain Risks – Factor 4 – Performance Metrics (Part 4 of 5) research post. Our recent study to better understand supply chain risks focused on the structure, implementation, and maintenance of a formal system for managing risks in the supply chain.
Successful collegiate football teams execute precise movements, split-second timing, and disciplined coordination – all under immense pressure. A company’s supply chain is similarily complex, requiring carefully timed coordination of its many moving pieces in alignment with the company’s business strategy, model, and competitive positioning.
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.
A make versus buy cost analysis involves comparing all of the costs associated with fulfilling a supply need (making) a good or service in-house against the cost of fulfilling a supply need (buying) a good or service from an outside supply partner. The common factors that companies consider in a make versus buy decision include proprietary knowledge, capabilities, quality, capacity, labor, volume, timing, and cost.
In today’s business environment, actions tend to be driven based on the results of Key Performance Indicators (KPI’s), and this is especially true in the manufacturing space. The typical organization develops KPI’s to enable them to holistically measure Quality, Delivery, and Total Cost of products they are supplying to their customers.
Actionable insights from IndustryStar on ways to expedite, optimize, and de-risk your supply chain operations.