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Manufacturers Must Seek Better Supply Chain Visibility

ivalua

Unfortunately for manufacturers, there are many areas in need of improved visibility such as customer demand, inventory, total cost, and supplier risk. There are two initiatives that we believe manufacturers should elevate to the top of the priority list for their company: tracing the upstream supply chain and supplier capacity management.

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October Marked Seventh Straight Month of Increased Spare Capacity

Supply Chain Brain

The survey showed that the extent to which supplier capacity went underutilized was higher in October 2023 than it was in September and August.

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How Modern Software Empowers Procurement with Agility and Resilience in Times of Crisis

ivalua

“As you add tools and technologies to try to solve these challenges, the landscape becomes very complex, creating data silos that limit stakeholders’ access to the data they need to understand supplier capacities and forecast effectively.” Start by Putting the Right Technology in Place.

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5 New Year’s Resolutions for Procurement

Una

Make yourself available to guide suppliers through your requirements and answer any questions. Look for contract hurdles that exclude small, diverse suppliers. Look for ways to help increase diverse supplierscapacity so you can work with them more.

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Supplier Collaboration: Fundamental to Elevating Manufacturing Performance

Jaggaer

For example, regionalizing EV battery manufacturers or suppliers of microchips in lower-risk countries can decrease dependencies, yielding advantages even if the manufacturing costs of the new suppliers are higher. The importance of proactive engagement with suppliers should not be underestimated.

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Procurement’s Role in Building Social License

Una

To overcome this, procurement can: Quantify the long-term value of stronger community ties and brand reputation Benchmark against competitors to show the market rate for ethical/local sourcing Negotiate with preferred suppliers to keep costs competitive Explore creative financing options like social impact bonds.

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5 New Year’s Resolutions for Procurement

Una

Make yourself available to guide suppliers through your requirements and answer any questions. Look for contract hurdles that exclude small, diverse suppliers. Look for ways to help increase diverse supplierscapacity so you can work with them more.