Did you know: 79% of companies with high-performing supply chains see greater than average revenue growth in their same industry? A smooth-running supply chain makes for a smoothly-sailing business in the field of manufacturing. Having what you need, when you need it, is a cornerstone of efficient production.
Thanks to California Manufacturing Technology Consulting, a key sponsor of GMI, for the following tips on supply chain management:
Supplier Sourcing: Efficiency Begins at the Source
Supplier development is an important start to improving your supply chain—because finding the right companies to supply your materials sets the stage for everything else. Operating efficiently relies heavily on suppliers to provide products, services, and raw materials in a timely manner.
Maintaining clear communication and expectations – on both sides – strengthens and builds trust. When unexpected events happen on either side, having trust allows quick navigation to find a solution.
Are Your Numbers Accurate?
When reviewing supply costs, make sure you know exactly what you’re seeing—and consider where you can save. Accurate readings can help save you money! Supply chain doesn’t end with what’s coming into your business; identifying the costs on the back end provides clarification on areas of improvement ranging from shipping routes to carriers. Not only will an accurate freight logistics analysis open up areas of possible savings, but it will give a scope on how to make things move along faster.
Improving your complete supply chain has proven to improve business as a whole, as a streamlined supply chain leads to faster production, which ultimately makes for happier customers. The improvement possibilities are endless, and GMI is here to help you with resources along the way.