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 operations.
COVID-19 has had a lasting impact on virtually every industry, and manufacturing is no exception. The pandemic has amplified supply chain optimization 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.
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.
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. But is it better to build or buy?
Supply chain 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.
Here are three important areas that all manufacturers should be prioritizing and acting on to ensure high levels of supply chain visibility, optimization and efficiency this year.
With bottlenecks in the supply of both goods and services running rampant post-pandemic, the term “shortages” is quite common to hear in the manufacturing industry. But what exactly are shortages and why are they such a big deal?
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.
It’s time to talk about the “human holdup” factor in the world of supply chain management. When it comes to building the best processes possible, we need to help procurement and factory operations teams get out of their own way.
When it comes to technological advancements in manufacturing, many conjure up images of advanced robotics on the factory floor. While this technological investment has revolutionized the way manufacturers build their products, another technological wave is sweeping through the supply chain. This wave focuses on boosting the efficiency of the procurement and buying teams tasked with inventory management.
Software as a service (SaaS), cloud-based computing hosted remotely by a vendor and accessible over a network, has quickly proven to be a game changer in navigating the increasingly complex manufacturing landscape. Below are five major ways that SaaS can boost productivity and efficiency.