A supply chain strategy is a planned approach to managing the flow of goods and services. Learn the types, importance, and examples of it on this blog.
the critical resources that move through the supply chain, (2) identify the forces that come into play and affect the performance of these resources, and (3) use various pieces of information to develop goals, objectives, and a strategy around which the flow of the supply chain is optimized...
In today’s complex global business environment, effectivesupply chain management (SCM)is crucial for maintaining a competitive advantage. The pandemic and its aftermath highlighted the importance of having a robustsupply chain strategy, with many companies facing disruptions due to shortages in raw mate...
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...
Why is logistics important? Industry research found that over 60% of US and European companies lost up to 20% in revenue in 2020 due to logistical disruptions¹, underscoring the need for a well managed logistics strategy, especially for smaller businesses with tighter profit margins. The effi...
Developing a strong supply chain optimization strategy is essential both to reduce operational risks and take advantage of growth opportunities. Benefits of Supply Chain Optimization Manufacturers that optimize their supply chains reap many benefits, including lower costs, higher profits, reduced risk, ...
These days,the more robust your thinking, the better your supply chain strategy. And the better strategy you have before the disruption comes, the better prepared you are for the inevitable. Supply chain resilience is the name of the game. And those who manage it well normally win the race...
This involves changing the prices of your products based on market trends, supply and demand, inventory level and customer expectations. Being flexible with your pricing strategy is key to remaining competitive in the e-commerce market – for example, price matching a competitor’s products. ...
Key features of effective supply chain optimization Blockchain is a powerful technology, and when used along with AI and IoT, its power is dynamically enhanced. The relationship begins with blockchain, which migrates from a traditional business network and brings together data of good quality across...
The goal of this is to ensure a sufficient supply while also avoiding excess inventory. 2. Procurement Procurement is another key step in any supply chain strategy and refers to the sourcing of all materials needed to make your product and satisfy demand. Essentially, it involves finding ...