- Share all the information you can.
Decide what information to share with suppliers and what information to hold back. Some business information
certainly needs to be protected, but not all of it requires the security of state secrets. In fact, you’re probably better off
to share every piece of information that could be useful for a supplier unless you can identify a genuine risk from
disclosing it. - Ask suppliers what they want.
Talk with your suppliers to find out what information they want from you and how (and whether) they’re able to get it. In many
supply chains, one company assumes that another company is getting the information that it needs, but that may be incorrect. The
information could be hard to find or interpret, or it could be going to the wrong person in the company. The easiest way to identity
and resolve gaps is to have a conversation with the supplier.
Sharing information with suppliers can help both your company and the supplier create more value.
Many retailers have begun sharing sales and inventory information with their suppliers in order to reduce the bullwhip effect.
When suppliers have access to information about supply and demand in retail stores they can do a better job of planning for future
needs.
For more information and assistance with your warehousing / supply chain needs, email Loray at – megasolutions1999@gmail.com
Loray Daws is not a “me too” professional. He looks at life differently and finds the best way to create value for his customers.
He knows LEAN initiatives very well and practices LEAN principles. He can apply Supply Chain theory and recommend substantial
cost savings. Loray is creative, sensitive and respectful to others’ needs and understands people very well. If I had a growing
company, I’d hire Loray to be one of my right hand men. He is experienced, has all the relevant knowledge and applies what he
has learned. “
Charles Intrieri
Management Consultant Charles M. Intrieri Consulting
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