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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Following supplier performance management best practices and using proper metrics could help you identify and deal with supply chain issues early on, avoiding stock-outs, production bottlenecks, or other complications that could arise due to unreliable suppliers.
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Demand forecasting could be the key to a business’s future. But how does it work and how could it be leveraged in a way that would be most beneficial?
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COVID-19 has accentuated problems and accelerated change in a global supply chain environment already under stress.
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Minimum Order Quantity can help preserve customers while lowering inventory, improving cash flow, and profitability.
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A supply chain, or logistics chain, is a system of processes, people, activities, information, and resources needed to get a product or service from producer to consumer.
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Backorders are orders for goods that a company cannot fill at present because demand has outpaced supply.
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The reorder point, also known as ROP, is the inventory level at which an order is triggered to replenish the inventory stock. Read more from this article.
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A robust and accurate planning system is critical to any manufacturer. In this article, we are comparing different purchasing practices – ROP/ROQ Principles vs MRP System Planning.
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The forecast is an effective tool for planning and managing any type of manufacturing business. Regardless of the industry type, it will reduce the risks.
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By using these tips, your material planning efforts should become more effective as you and your MRP or ERP system gather accurate and reliable information that results in timely shipments, and a clearer picture of your inventory.
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