As companies are searching for ways to successfully navigate these turbulent times, the best ones are achieving a win-win focus on the customer and costs. Since the pandemic, there has been a heightened awareness of the customer experience as companies struggled with supply chain disruptions, delays, shortages, and the lack of resources.
Prior to Uber, a medallion (a transferable permit that allows a taxi driver to operate) cost $1 million dollars in New York city. It was a powerful permit with substantial value. After Uber started up, the low point for a medallion was around $25,000. That is a 40-fold reduction [...]
Manufacturers are experiencing continued inflationary pressures threatening customer service and profit margins with record-breaking price increases and lack of material availability. To add fuel to the fire, they are also starting to worry about preparing for a potential recession.
Improved supplier data will give your supply chain the competitive advantage to drive customer loyalty.
Emerging technologies in supply chain from e-commerce to robotics are more important now than ever.
Vendor Managed Inventory (VMI) revolutionizes supply chain collaboration, optimizing inventory management and partner relations.
It is worth considering at least being aware of the power of crowdsourcing. Crowdsourcing can apply to all business and social interactions.
Reach out to your extended supply chain for collaborative ordering, product development opportunities, and logistics improvements.
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.
Supply chain optimization focuses on demand planning, inventory accuracy, and collaboration to improve efficiency and customer satisfaction
