Cherry:The first step is planning ahead and ensuring that you know your strategy from a supply continuity and risk mitigation perspective and which parts and suppliers are critical from a production perspective. If you answer that all parts and suppliers are crucial, you need to get to the righ...
Supply Chain Strategy Types Supply Chain Strategies refers to the long-term business strategy to maximize business growth by optimizing the supply chain operations. There are several types of Supply Chain Strategies that a company can adopt, depending on the business objectives, and market sentiments....
By following these key supply chain strategies, supply chain planners can develop more effective plans that will help improve the supply chain’s overall efficiency. Supply Chain Planning Process There are five main processes involved in supply chain planning: ...
What is SCM (Supply Chain Management) Software? (1:47) We now live in a time of unprecedented global business and trade, not to mention continual technology innovation and rapidly changing customer expectations. Today’s bestsupply chain strategiescall for a demand-driven operating model that can...
What Is Supply Chain Optimization? Supply chain optimization encompasses any activities that a manufacturer takes to improve the efficiency and cost effectiveness of its supply chain—for example, by reducing material waste, getting better insight into regulatory risks, developing backup strategies for une...
In response to longer lead times and increased supply chain disruptions, businesses are reimagining their inventory management strategies. For instance, many retailers are shifting from just-in-time (JIT) models, which emphasize efficiency, to just-in-case (JIC) models, which prioritize safety stock...
Today, there are many AI-powered technology platforms that can monitor your inventory to find the optimal price points for your products, based on demand. This will benefit your business and your customers. Supply chain The supply chain is the entire network involved in the sourcing and procureme...
Mitigate:Once the risks are known and analyzed, companies may decide to come up with strategies to address them, targeting the most significant issues quickly. Risk mitigation strategies can involve diversifying suppliers, improving inventory management, enhancing communication, investing in technology and...
1 In this guide, we’ll answer the important questions, like what are operating expenses and, more importantly, what are some smart strategies for keeping these costs in check?What are operating expenses? Operating expenses are regular, recurring expenses that maintain the essential functions of a...
Supply chain strategies for small business All of this begs the question:howdo you optimize the supply chain for your small business? When you feel like you only have ultimate control over limited parts of the process, how can you cut down on time and save your business money?