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Some business experts believe that responsiveness and efficiency are polar opposites. Supply chain efficiency requires speed, and large, uniform orders. Responsive demands a slower pace, and, sometimes, customized orders. But they both serve the same end goal, and both are equally important. So how do you incorporate one without sacrificing the other? Read more on this link
Technology is the foundation for an efficient and responsive supply chainCompanies need access to data in order to make smarter decisions about how they manage production, inventory, locations, and transportation. Unfortunately, data is often dispersed across multiple systems that sit in siloed business units. Without transparency and system integrations, leaders will have a difficult time establishing and enforcing efficient or responsive processes, much less an efficient or responsive supply chain.Read more on this link
Breaking the Trade-Off Between Efficiency and Service
What if a manufacturer had to deal with customers waltzing around its shop floor? What if they showed up, intermittently and unannounced, and proceeded to muck up the manufacturer’s carefully designed processes left and right? For most service businesses, that’s business as usual.
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What if a manufacturer had to deal with customers waltzing around its shop floor? What if they showed up, intermittently and unannounced, and proceeded to muck up the manufacturer’s carefully designed processes left and right? For most service businesses, that’s business as usual.
Read more on the link
While designing for a higher service level—say, 98 percent—would result in fewer stockouts, this requires significantly more safety stock. There must be a balance between inventory costs and custom- er service. By using the methods and equations that follow, you can find safety stock levels to achieve your desired customer service levels.Read more on this link
While choosing what supply chain process is to be used, the choice one has to make is between responsiveness and efficiency.It is Extremely vital to identify the correct framework to device the most effective supply chain.Different frameworks has been suggested for arriving at a proper supply chain process.But the choices has been widely varied.The first person to arrive at a standardized solution was Fisher, who suggested the proper supply chain framework can only be decided by analyzing the nature of the demand for the product.Read more on the link
Production planning and scheduling tend to seem overwhelmingly similar. However, there are some differences that set these two concepts apart. The main difference between planning and scheduling is that planning determines what and how much needs to be done while scheduling defines who and when the operations will be performed. Read more on this link
In this post, we use the approach to resilience-building to compare and contrast disruptions, especially how the Covid-19 pandemic fits into supply chain’s risk universe. Our aim is to improve companies’ understanding of supply chain risk and resilience, and help them contextualize the pandemic’s unique risk profile.Read more on the link
Understanding Data Noise & Methods to Detect & Remove Noise in Datasets for Machine Learning, Read more on the link
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