4 ways to build a more flexible supply chain
Shashi Pal Sharma
Outsourcing and Offshoring Consulting | Mechanical Design & Development | R & D | Process Refinement | Cost Estimation & Optimization | NPD | Manufacturing
4 ways to build a more flexible supply chain :
1. Expect the unexpected: Being prepared for unforeseen situations will stand you in good stead should they occur. It is not uncommon for things to not go to plan. In order to plan ahead effectively, it is important to communicate often and in detail with suppliers. We need to adopt a proactive approach to supply chain, and consider likely future trends and market direction to make preparations for them.
2. Stock a little more than you need : Whilst being lean, reducing waste, and being as productive as possible is the aim, one should be conscious to not be too lean. It is beneficial to stock a little more than you need, to account for any eventuality.
3. Stay connected to the engineers on the ground : Technology has meant that we can acquire large amounts of data from machines, however having a close relationship to the actual machine operators and factory floor can prove invaluable. Relationships are crucial, supplier engineers are able to find problems that were not apparent to begin with, and they can report this information and adapt the plan when required.
4. Don’t put all your eggs in one basket : Ensuring you don’t rely solely on a single-source supply will help in building a more flexible supply chain. Having more options will mean less of a risk that material will be unobtainable.