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How do you compare with competitors?

You can find out a lot about how well your own supply chain is doing by bench-marking against other companies,including your competitors.You can do bench-marking informally by researching public information about your competitors. You also can doformal bench-marking by sharing data between companies or working with a research firm that collects data frommany companies and … Read more

Here are two tips for successfully sharing information with your suppliers:

Share all the information you can.Decide what information to share with suppliers and what information to hold back. Some business informationcertainly needs to be protected, but not all of it requires the security of state secrets. In fact, you’re probably better offto share every piece of information that could be useful for a supplier unless … Read more

What information do you share with suppliers?

Your suppliers need to get certain information from you to maximize their value in your supply chain. Many companies try toposition themselves as strategic partners with their customers but then maintain a guarded, arms-length relationship with their ownsuppliers.It’s also important to make sure that you are sharing information in a useful way. If the data … Read more

How do you define supply chain management?

Many people use the term “supply chain management” when they are really talking about the procurement, logistics, oroperations functions. To be effective in improving your company’s supply chain, you need to have a broader perspective.Example, a project that reduces procurement costs can end up increasing costs for logistics and operations. As a supply chainmanager you … Read more

How could your supply chain create more value?

Companies can become comfortable — even complacent — about the relationship they have with their customers. This attitudeis dangerous because what customers want and how much they are willing to pay will change over time.There is often pressure to lower your prices to make your products more competitive. You should always be looking for ways … Read more

What do your key customers value?

Your supply chain creates value by addressing your customers’ needs. There are many ways to gather data about the things thatyour key customers expect and are willing to pay for including:Analyzing industry trendsConducting surveysInterviewing customersAttending conferencesSponsoring focus groupsAs you gain new insights about what your customers value, use this information to improve the metrics for … Read more

Who are your key customers?

One big challenge for supply chain managers is that they’re often disconnected from the company’s customers.Sales and marketing departments make deals and entice customers to buy; then it’s up to the supply chain folks to make theproducts and deliver them on time. Although supply chain managers have a set of production targets, they often have … Read more

What are the Main Challenges Related to the Supply Chain that Companies are Currently Facing?

Take into account many crucial factors like:Rising costs throughout the supply chain.Consumer demands for improved delivery speed and customer satisfaction.Volatile risks in the supply chain such as market fluctuations, trade disputes, etc.The complexities of risk and cost management.(COVID impact a prime example…….NO ONE was prepared as they did not complete a RISK ASSESSMENT ANALYSIS. For … Read more

What is the Role of Logistics in Supply Chain Management?

Can be very confusing:it could entail the entire process of monitoring the ordering, manufacturing checks and transporting of goods and services fromone place to its intended destination is termed as “logistics.”The term logistics was originally used to refer to the transportation of equipment to military armies on the ground. For more information and assistance with … Read more

Is there a difference between Supply Chain Management and Logistics?

Supply chain management and logistics are two very different processes.Supply Chain Management is confined to the bigger picture, logistics is comparatively small.Logistics is all about producing the goods in one organization and distributing them amongst the consumers who demand thegoods.Supply chain management, on the other hand, is a group of organizations that strive to distribute … Read more