As supply chains grow increasingly complex, it can feel impossible to understand how to assess and optimize inventory from end to end. Supply chain leaders, already tasked with the daily responsibilities of firefighting through shortages and ballooning inventory, also have compounded responsibilities to guarantee sustainable on-time delivery over time.
However, inventory data collection is often tedious and manual, and it can take weeks, if not months, to complete. And as soon as it’s analyzed, the inventory data may already be out of date. And while ERPs can hold all of that inventory data, they require expensive, manual, and time-intensive maintenance to keep up to date. Without a simple, structured process for routine inventory data updates, it’s even harder to see and act on opportunities for improvement in the factory.
That’s why lean manufacturers introduced the Plan for Every Part (PFEP). As your team develops inventory optimization goals to reduce shortages, improve working capital, and ultimately maximize production throughput, your PFEP can help you prioritize opportunities that can create the biggest impact in end-to-end inventory management. Instead of churning through noise to look for exceptions, your team can instead efficiently manage the outliers that most affect your supply chain.
Continue Reading “PFEP Helps You Optimize Your Entire Supply Chain”
Advances in analytics allow manufacturers to see and interact across sites like never before. There are many benefits to this multi-site visibility – increased inventory savings, happier customers, and less stress. Connecting your sites and standardizing their data using cross-site analytics is the future of manufacturing. Here are 5 benefits of cross-site visibility: Continue Reading “5 Benefits of Improving Cross-Site Visibility in Supply Chain”
“Data tools would be great– but for us it’s garbage in, garbage out.”
“We can’t start fixing this problem because it will unearth 100 others!”
Have you heard this before? With the amount of data manufacturers juggle, it’s no wonder so many face the same dilemma: missing and inaccurate data… on a massive scale!
Data can be an overwhelming issue, but it’s time to stop saying “our data isn’t great.” LeanDNA’s built-in data cleansing process helps manufacturers evaluate and fix their data. Over our time working with manufacturers, we’ve discovered 13 common data points where bad data runs rampant. Here’s what you should understand and check if undertaking data cleansing in your own system. Continue Reading “Got Bad Supply Chain Data? Here’s What you Need to Know for Data Cleansing”
What are today’s shareholders in aerospace and defense (A&D) manufacturing expecting from company leadership? Deloitte recently analyzed letters to shareholders from the top 20 A&D companies and discovered a few core management themes to drive sustained growth.
There are two standout themes worth exploring:
- Achieving long-term operational performance through better working capital management, process improvement, and program transformation
- Supporting continued business growth by investing in new technologies
Continue Reading “How Top Aerospace Manufacturing Execs Exceed Shareholder Demands”
Data analytics is entering a new frontier as teams disperse around the globe. New analytics technologies enable organizations to read deeper into the story behind their data. But more often than not, teams miss out on the benefits of new technology because they rely on tried-and-true methods to solve the problems of the future. One of those bad habits is turning to one-way analytics — inputting your data into spreadsheets to be emailed from user to user, one at a time to avoid multiple copies of the same document. The hope is that someone can glean useful information before relaying it back through the chain. Continue Reading “The Trouble With One-Way Analytics? Your Data is Useless Without Collaboration”
Supply chain managers are constantly hampered by distractions. You get stuck monitoring on-time deliveries, vendor-managed inventory (VMI), and impending (or existing!) shortages. Ever feel frustrated by the challenge of how to deal with material shortages?
It seems there’s hardly any time to seek real solutions when you’re so busy applying bandaids. Believe it or not, there are initiatives supply chain managers can implement to reduce shortages, save costs, and smooth out the process. Continue Reading “How to Deal With Material Shortage Using Analytics and Collaboration”