Five steps to manage supplier risk in your supply chain | Netstock
Improved supplier data will give your supply chain the competitive advantage to drive customer loyalty.
Improved supplier data will give your supply chain the competitive advantage to drive customer loyalty.
As clients become interested in S&OP (Sales & Operations Planning), also known as SIOP (Sales, Inventory, and Operations Planning) to get in front of customer requirements while simultaneously increasing margins and profits, executives want to know if software is required to support S&OP success. Is Software Required to Support [...]
Since the pandemic, it has been a constant battle to ensure material availability, let alone to proactively manage cost and service. Even the most proactive and successful clients have experienced brief shortages of key materials and extended lead-times. The rest have been plagued with these issues.
Because we live in a global, supply chain disrupted world amidst record-breaking prices for food, commodities and oil (and all products dependent on these industries), not only are businesses looking to navigate inflationary pressures, but also deflationary pressures. Inflation can lead to deflation as consumers panic and demand softens.
"Our most successful clients are not hiding under a rock and maintaining status quo during these inflationary times," points out Lisa Anderson, president of Claremont, CA-based LMA Consulting Group, Inc. and manufacturing expert known for creating supply chain resiliency."
Lisa Anderson, manufacturing and supply chain expert and president of LMA Consulting Group states there are operational and supply chain priorities required to be ready to absorb additional sales". One of the most important components is to have planning and scheduling processes required to be ready to absorb capabilities.
Manufacturing and Supply Chain Expert Lisa Anderson, MBA, CSCP, CLTD, President of LMA Consulting Group Inc., states"supply chains are going to be volatile until our world order becomes more predictable".
As our long-term newsletter subscribers and ProVisors (trusted advisor network) colleagues are aware, we have used the Strongest Link in Your Supply Chain” as our tag line for a decade or longer. However, it has never been more relevant than it is today! As has been proven through the pandemic and continuing supply chain disruptions, any company’s performance is only as strong as the weakest link in their supply chain.
Manufacturing and Supply Chain Expert Lisa Anderson, MBA, CSCP, CLTD, President of LMA Consulting Group Inc., predicts supply chain challenges for the foreseeable future. She also suggests that mitigating supply chain challenges will require leveraging the strength of direct and indirect global supply chains.
The latest in a long series of supply chain disruptions has impacted the baby formula industry. 40-50% of the shelves across the U.S. are out of stock for this critical item!