Should Supply Chain be a Strategic Function?
The supply chain has a dramatic impact on several areas of the company – the ability to grow and “keep customers promises”, profitability, cash flow, and customer service.
The supply chain has a dramatic impact on several areas of the company – the ability to grow and “keep customers promises”, profitability, cash flow, and customer service.
By collaborating, we create a win-win-win. The customer has what he needs when he needs it without having to go out of his way and deviate from his typical process. The supplier has information in advance about an upcoming event and so can modify plans as appropriate to better serve his customer at the lowest inventory levels and maximum efficiency levels.
Vendor Managed Inventory (VMI) offers companies a chance to partner with customers to better manage inventory and costs. Once the partnership proves fruitful, expanded business opportunities occur.
Although evaluating your supply chain readiness is paramount to support growth, there is no reason to wait for your customers to request an audit.
Though reducing inventory is generally advisable special situations arise when stocking inventory makes good business sense.
Must you compromise quality for speed? Reducing lead time will increase customer satisfaction and avoid the Amazon Effect.
Businesses with growth ambitions have to gauge the current capacity of every facet of their facility to plan future productivity
Take stock of where you are and what levels of growth you expect. Undoubtedly, preparation action items will pop to mind.
The quickest, most practical inventory solutions happen with teamwork.
It’s easy to feel lost when you have no direction from customers about their own sales projections. Get a clearer picture through demand planning.