Quite often, the terms value chain management and supply chain management are used interchangeably. While they overlap and are ultimately complementary, they are in fact two separate yet critical terms that impact your organizational success.
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Effective supply chain management (SCM) in today’s technologically-advanced manufacturing environment can be a daunting task. However, according to Dr. Donald Radliff, executive director of Georgia Tech’s Supply Chain and Logistics Institute, efficient supply chain and logistics operations backed by a solid supply chain strategy can reduce costs by as much as 10-40 percent. The trick is following ten rules for successful supply chain management:
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Guest blog by Jonathan Kall, CEO, Vecco International
So you’ve just learned that there’s good news… and there’s bad news. First, the good news: your sales for a specialty item manufactured in-house are through the roof. In fact, they’re way over forecast.
Now, the bad news. You’re short on production orders. And raw materials. And coordinating your global supply chain in a timely manner to meet your customers’ needs feels like an even taller order.
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There is no question that today’s global manufacturing marketplace has brought increased complexity to the supply chain. Even the smallest manufacturers might establish supplier partnerships and source raw materials around the world as growing competition and market volatility cause growing concern for material availability and costs.
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Most companies understand the importance of consistent, efficient and scalable business processes but are fuzzy on the best way to achieve it. Optimizing business processes is a way for companies to eliminate inefficiencies and reduce costs – a strategic approach that alters how an organization conducts business and manages operations to produce better results and increased profits.
Tags: Supply Chain Optimization, Business Process Optimization
An enterprise supply chain is a complex system with a number of components that need to work together efficiently and effectively to ensure that planning, procurement, production, inventory and distribution processes flow smoothly. By optimizing SCM, companies will see a number of benefits, including increased productivity and reduced costs.
Tags: Supply Chain Optimization, Business Process Optimization
