Challenges for Manufacturers On the Horizon: the Paradox of Reducing Shortages vs Inventory

According to the recent State of Supply Chain 2022 report, nearly 75% of manufacturers feel pressured to digitally transform their supply chain operations. But why are there so many internal roadblocks to adopting new technologies, work processes, and business solutions?

In our latest State of Supply Chain 2022 webinar, hosted in tandem with The Association for Manufacturing Excellence (AME), industry leaders from LeanDNA, AME, and Deloitte participated in a roundtable discussion to answer this question and more. Below we’ll address different perspectives on why the implementation of new tech and new ideas, which manufacturers need to stay successful in today’s market, is easier said than done. 

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The Truth Behind Resolving Today’s Shortages

Shortages are the main causes of global supply chain disruptions amidst the ongoing COVID-19 pandemic, and they’re proving to be extremely pervasive. While ERP systems and other data categorization tools may help mitigate shortages to an extent, investing in planning or BI tools alone isn’t enough anymore. In the final installment of our shortage series, we move beyond the basics of shortages and the teams that manage them to illustrate why, in today’s economy, manufacturers need to look differently at shortage management.

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Shortage Series #2: Who Handles Shortages?

Shortages are tricky, even one part can halt an entire production line. Successfully navigating shortages isn’t something one person on one team can tackle alone, they require a wide range of people to manage and eliminate them. Understanding the different roles that are directly involved in shortage management and the part they play is critical to preventing shortages in the future.

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ERP On Its Own Isn’t Enough.

Most, if not all, manufacturers have at least one ERP system in place to house and categorize critical data. But investing and implementing ERP systems are just the first step towards achieving true inventory optimization. While ERP systems are necessary, on their own they lack the prioritization and visibility necessary for manufacturers to stay competitive and successful in today’s increasingly complex supply chain. To save both time and money, manufacturers must aim to operate as efficiently as possible. By implementing an additional analytics engine, ERPs can achieve their full potential.

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From ABC to XYZ: Understanding the XYZ Analysis

Buyers spend their days determining the optimal levels of inventory that should be bought at any given time, but it’s not always a straightforward process. Without the right tools at their disposal, it can be incredibly tedious and time-consuming, often leaving buyers to rely on guesswork to guide their inventory actions. Beyond the ABC analysis, which helps categorize items depending on their value and importance, there is another process that is critical in maintaining optimal inventory levels—the XYZ analysis. The XYZ analysis provides an additional layer of statistical analysis that is essential to optimizing inventory levels to prevent as many shortages as possible while also minimizing the amount of inventory being carried.

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Spotlight on Astrid Hussonnois: 2021 Women in Supply Chain Award Winner

At LeanDNA, highlighting our Leaniacs’ successes is one of our great honors. It is with great pleasure that we announce that Astrid Hussonois, Senior Customer Success Manager, has been named a 2021 Women in Supply Chain Award Winner. Anyone who has worked with Astrid can speak to how deserving she is of this award and we are so proud that she has received this industry honor.

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Cycle Counting and Inventory Shortages

Successfully managing inventory can be difficult. There are many moving parts, from determining the level of inventory that should be kept to maintaining the inventory levels necessary to avoid shortages and excess inventory. While there are many ways to count inventory, cycle counting is one of the most efficient methods to prevent inventory shortages and target discrepancies between reported versus actual inventory. 

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In Our DNA: Summer Core Value Spotlight

At LeanDNA, we strive for collaboration and teamwork to create a safe space for innovation. We live and breathe our four core values, because our vision—to disrupt manufacturing by transforming every factory into a strategic force—wouldn’t be possible without our extraordinary Leaniacs. Beyond accomplishing business goals, LeanDNA continues to work towards being One Team and fostering collaborative and rewarding work environment.

Every month, we recognize the accomplishments of some of our teammates who embody LeanDNA’s core values every day in their work.  Below are this summer’s value winners who not only embody these traits, but take them to a whole new level. 

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