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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What’s Holding Manufacturers Back? It All Comes Down to Trust

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 New Shortage Economy Explained

Shortages are dominating the headlines. The COVID-19 pandemic brought monumental challenges to the supply chain, culminating in what experts deemed “the perfect storm.” The added pressures of the pandemic overwhelmed manufacturers already struggling with changing market trends and outdated technology. At the beginning of the pandemic, demand was volatile and the shelves were bare. Now consumers around the world are getting used to this new shortage economy. 

But how did we get here? This topic and more were addressed by leading industry experts in “The State of Supply Chain 2022 Webinar” hosted by LeanDNA and The Association for Manufacturing Excellence (AME) in response to the recently published “The State of Supply Chain 2022” report. Below we’ll address the factors that led us to our new shortage economy.

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The State of Supply Chain 2022 Webinar Recap

This week LeanDNA and The Association for Manufacturing Excellence (AME) hosted a webinar on the current state of the supply chain and the New Shortage Economy. Our very own Richard Lebovitz and Kamalina Srikant joined AME’s Robert Martichenko and Deloitte Consulting’s Louis Librandi to expand upon results from the recently published “State of Supply Chain in the New Shortage Economy” report and discuss the current pain points, opportunities, and approaches in manufacturing and supply chain. 

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Hot Off the Press: The State of Supply Chain 2022 Report

COVID-19 has had a lasting impact on virtually every industry, and manufacturing is no exception. The pandemic has amplified supply chain challenges that are increasingly complex, from highly customized orders, intricate sub-assemblies and parts sourced from more global suppliers, and overburdened planning and procurement teams.

In this “new shortage economy,” it’s increasingly evident that manufacturing’s existing processes are in need of an upgrade. Additional insight and visibility into the supply chain is necessary for manufacturers to avoid shortages, optimize inventory, and save money.

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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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Build or Buy? Here’s How to Free Up IT’s Time and Resources

No manufacturer uses just one tool. Today’s factory operations and procurement teams use a slew of technological tools to analyze the inventory data stored in their ERP systems, guide their daily actions, and navigate the increasingly common global supply chain disruptions. In order to bring their teams out of manual processes and spreadsheets, many companies build their own solutions in-house in order to define and control how they categorize and analyze their data.

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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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