How to Leverage Plan For Every Part (PFEP) in Supply Chains
April 06, 2023 | Supply Chain Strategy
As a seasoned supply chain professional, one of the most effective tools you can use to optimize your supply chain is the Plan For Every Part (PFEP) approach.
Plan For Every Part methodology provides a complete view of all the parts and components required for production along with associated data such as lead times, storage requirements and supplier details. Through PFEP, companies can streamline their supply chain processes, reduce inventory costs and improve overall efficiency.
Vertical Integration of Supply Chain: Pros and Cons
April 04, 2023 | Supply Chain Strategy
Vertical integration is a supply chain strategy that involves a company taking control of multiple steps in its supply chain -- from raw materials to finished products.
This can involve backward integration (taking control of suppliers) or forward integration (taking control of distributors or retailers).
A Comprehensive Guide to Supply Chain Finance
February 03, 2023 | Supply Chain Strategy
Supply chain finance (SCF) is a powerful tool for businesses of all sizes to manage their working capital and optimize cash flow and can be used to finance suppliers, customers or both.
The supplier is typically paid upfront while the customer is given more time to pay. This delay in payment allows the customer to free up cash which they can then use to invest in other areas of their business.
Supply chain finance (SCF) can be used in a variety of industries, including retail, automotive, food and beverage, and manufacturing.
5 Emerging Trends in Supply Chain Management
February 02, 2023 | Supply Chain Strategy
Supply chains have become increasingly complex in recent years, with new technologies and innovations. As a result, there’s a need for innovative strategies to manage them more efficiently and effectively and to build resiliency in supply chain operations. The main trends in supply chain management today are artificial intelligence and automation, supply chain as a service, circular supply chains, risk management and stability, and increased focus on sustainability.
The Essential Guide to Supply Chain Orchestration
February 01, 2023 | Supply Chain Strategy
Businesses today are operating in an increasingly competitive and global environment. To be successful, they must have a robust supply chain that is efficiently managed. Supply chain orchestration is an essential tool for managing and optimizing the entire supply chain process.
Supply Chain Segmentation: Ways to Achieve it
February 01, 2023 | Supply Chain Strategy
Supply chain segmentation is a process used to identify, analyze and segment a supply chain into distinct markets, channels, and customer groups. It is an effective way to align supply with demand, increase efficiency and reduce cost. The value of supply chain segmentation rests in its ability to help organizations achieve their strategic objectives. By segmenting the supply chain, organizations can develop customized strategies to meet their customers' needs and maximize their profits.
Lean Supply Chain Management: Benefits, Elements and Characteristics
January 31, 2023 | Supply Chain Strategy
An efficient supply chain management is quintessential for any business to succeed. Companies are constantly looking for ways to reduce costs, increase customer satisfaction, and improve overall efficiency. This is where lean supply chain management comes in. Lean supply chain management is a comprehensive approach to improving the performance of the entire supply chain by eliminating waste, streamlining processes, and increasing communication and collaboration between suppliers, manufacturers, and customers.
Compliance vs. Risk Management: Understanding the Differences
January 31, 2023 | Risk Management
Does your business comply with all applicable laws and regulations? And does it have a risk management program in place?
Well, what’s the difference between these two? And why do you need to understand this difference?
The modern business world is becoming increasingly complex, with organizations facing numerous challenges in understanding regulatory requirements, managing risk, and ensuring the safety of their customers and employees.
Elastic Logistics: Benefits, Implementation and Examples
January 25, 2023 | Supply Chain Strategy
The global logistics market size touched USD 4.92 trillion in 2021 and is projected to reach USD 6.55 trillion by 2027. The e-commerce logistics market size was 269.34 billion in 2021.
3 Best Practices to Tackle Inflation in Supply Chain Network Design
January 25, 2023 | Supply Chain Strategy
Since 2022, global economies have been facing record inflation. The rate of inflation in 37 of the 44 advanced economies has doubled over the past two years, according to Pew Research Center.
Three key factors are driving up the cost of making and providing goods and services:
