There are many K.P.I.s (Key Performance Indicators) in the Supply Chain. Companies set their goals for the year and keep track of it periodically (weekly, monthly, quarterly) to see how they are going and what they need to focus on more to achieve end-year targets.
KPIs are not always meaningful by themselves. You need to have a balanced scorecard Read more
Game of Thrones in Supply Chain
Have you ever wondered what jobs would Game of Thrones characters do if they were in the Supply Chain Business?
Eddard (Ned) Stark – Supply Chain Director
Ned Stark is possibly the only character in Game of Thrones that everyone likes and respects. He is kind, loyal, thoughtful and always thinking for the overall benefit for everyone. Everyone Read more
These watermelons were first developed by a Japanese Farmer Kagawa over 30 years ago. He also has the patent for this “product”. They are perfectly shaped like cubes and moreover they are equally sized. This makes them so easy to stack and transport. This way you can minimize the empty spaces that you should carry around in your truck. I am not sure about the taste, tough. I never had the chance to taste any of these but I must admit it feels a little weird; or maybe I am too much conservative!
It is likely that we will see more fruits and vegetables being grown in similar ways in the future. Our resources are limited and Read more
Making a good decision on which masters program to choose is a tough thing. This is usually a one shot action! Very few people would have the chance to change their minds after they start a program. So you should make sure you won’t regret your choice. But how? Read more
Trending now: Big Data Analytics
Big data is coming from different variety of sources with a high velocity and it has a huge volume. and it will continue to grow bigger and bigger every day, every minute, every second.
All the social media activities of individuals, all sensors around as, GPS data, every digital process, every like and follow in the internet, every supermarket shopping, the digital bracelets you wear in disneyland tour, our mobile devices continuesly creating data and Read more
Supply Chain is a hard business area, where you need to have a perfect balance between demand and supply.
Supply Demand Balance Cartoon (o9solutionsn)
In order to have an efficient supply chain,
- Demand planning is the 1st step. Better forecasting saves you time and gives you the opportunity to build up an inventory plan.
- Inventory management and warehouse utilization is second. This is both about the materials, raw ingredients and finished goods. You need to have set the rules for stock levels (whether you are willing to keep more stock in case of an oversale or not depends on how flexible your production/suppliers are to demand volatilities). Also alternative material/product options must be identified so that you can have some flexibility with the alternatives.
- Supply planning counts on suppliers’, transporters’ and purchasing processes and 3PL performance if you are working with one.
Most importantly it is all about how good you are with handling the stress and making plan B, C, D, etc. Because supply chain is all about estimation of possible variations and managing unexpected issues! This is an exciting and colorful world…
Supply and Demand Balance is one of the most important keys to success in the Supply Chain.