Preliminary data indicate that successfully scaling 4IR technology makes supply chains more efficient and working hours more productive, reduces factory waste, and has countless other benefits for employees, stakeholders, and consumers. Implementing Industry 4.0 technology is also especi...
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...
Backward integration is when a company expands its ownership of operations upstream in the supply chain. In other words, the company will either acquire businesses that were once its raw material suppliers, or move sourcing and production of its products in-house. For example, say you own a cl...
Cyber security is vital to remain secure from cyber intrusions. For that reason, businesses must have robust cybersecurity resources and should consider employing outside experts to help protect their supply chain data. Cognitively Enabled The integration of AI technology helps to improve the supply...
Why is supply chain resilience important? In today’s interconnected world, supply chain risks are inevitable. The COVID-19 pandemic revealed the vulnerabilities of global supply chains and how quickly disruptions can cause cascading effects across industries. For example, manufacturers ofsemiconductorsfac...
In Industry 4.0, the way enterprises apply technology to the supply chain is fundamentally different from how they applied it in the past. For example, within the maintenance function, enterprises would typically wait until a machine malfunctioned to fix it. Smart technology has changed that. We ...
Most supply chains are far more complex and layered. This is why examples of unsuccessful supply chain management, where risk isn't managed or disruption occurs, can be so helpful. Food shortages during COVID-19 are a good example of supply chain management gone awry. Thefood supply chain wa...
Example of supply chain: How raw materials turn into handmade soaps The very concept of a supply chain strategy can seem daunting. But, once you dip your toe in and gain more familiarity, you’ll realize that things actually move in a pretty sensical order. ...
The value of ERP and SCM integration While robust supply chain management systems excel in helping businesses adapt, operate efficiently, and meet customer needs, their power is supercharged when integrated withmodern ERP systems, which centralize data from various departments such as finance, human re...
Most supply chains are far more complex and layered. This is why examples of unsuccessful supply chain management, where risk isn't managed or disruption occurs, can be so helpful. Food shortages during COVID-19 are a good example of supply chain management gone awry. Thefood supply chain wa...