Recent years have seen unprecedented disruption in the global economy. Large-scale events such as trade wars, tariffs, COVID-19, and port throughput issues have created massive pressure on the company’s supply chains.
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The bullwhip effect is a supply chain phenomenon related to sudden changes in demand signals, when a slight movement in demand can cause large swings throughout the supply chain. To avoid a destructive “whip crack” at the end, companies need to be prepared to mitigate the effect.
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Vendor-managed inventory is a supply chain management method wherein a supplier is responsible for replenishing the inventory of the buying company. This approach can lead to better inventory optimization, reduced costs, and stronger relationships between companies.
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Vendor management is a set of tools that companies use to ensure profitable and efficient relationships with their suppliers. Coming a long way from traditional phone calls, faxes, and emails, today even small businesses have started to utilize software to manage their communication with vendors.
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Inventory tracking means monitoring stock movements to increase visibility in the company’s supply chain. This added transparency helps businesses improve their ordering and overall inventory management practices, ensure traceability, and make sure that goods reach the production floor and the customer at the right time.
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The world has experienced historic supply chain disruptions during the last years. From trade wars and COVID-19 to semiconductor shortages and the Suez canal blockage – there are few industries that have not been affected. The lesson learned is to be better prepared and to remain flexible.
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From an increasing demand for customization to ever-stricter regulations, these are exciting times for garment manufacturers – if they embrace digitalization.
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What is lead time and how to measure it? How to reduce your lead times and be more dependable? Here is a comprehensive guide to a topic that directly affects how happy your customers are.
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Return Merchandise Authorization or RMA is a systemic approach to handling product returns. It allows for better tracking, makes the processes quicker, and could thereby improve customer satisfaction.
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Traceability essentially means having insight into the chain of events that is your business. But how to achieve it and what are the mechanisms that support it?
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Implementing proper materials management methods allows businesses to make sure raw materials reach the shop floor at the right time, in the right quantity and quality. Follow these best practices to get more control over this essential supply chain function.
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Procurement management is more than making phone calls and arranging the purchase of materials. It is a vital part of any manufacturing company and having a strategic approach to it could bring about immense benefits.
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