In supply chain management, there exist two main competing goals—operational adaptability and cost minimization. On one hand, adaptability refers to the capacity of your supply chain to swiftly adjust to changes in market conditions, customer demands, or unforeseen disruptions while…
The interconnected and interdependent nature of modern supply chains poses a huge risk to the businesses involved. This is because malicious actors can now disrupt and paralyze hundreds of businesses by just targeting one link in the supply chain. Take,…
Many small businesses struggle to keep up with orders, especially during the initial stages of growth. With limited resources and haphazard orders, inventory management for small businesses can be challenging and prone to errors. This can lead to several issues,…
Customer satisfaction plays a huge role in business success today, so much so that studies indicate businesses emphasizing this aspect of the consumer experience benefit from revenue growth of between four to eight percent. Customers may have tolerated longer wait times…
Many processes occur within a supply chain — procurement, manufacturing, warehouse management, and order processing. Without order, supply chains would be full of chaos. Picture a busy manufacturing plant lacking any organization whatsoever: raw materials strewn all over the place,…
With so many processes and businesses involved in just one supply chain, maintaining transparency can sometimes become a challenge. But, what exactly is supply chain transparency and why is it important? Supply chain transparency refers to the accessibility of information…
Supply chains aren’t what they used to be—they’ve evolved for the better. Today, ethical supply chain management is an increasingly growing trend that’s taken the industry and world by storm. But what exactly is ethical supply chain management (ESCM)? As…
Artificial Intelligence (AI) in manufacturing has, for the last couple of years, been a hot topic of discussion. From it being a good thing and bringing efficiencies to being a threat to jobs, AI is a trend to watch out for,…
No matter how well you plan and manage your inventory, you are likely spending a lot of money on storage. Cross docking is a potential solution that lets you distribute inventory more effectively without keeping it in your warehouse or…
Any time your business runs out of a product, this frustrating situation is known as a stockout. Stockouts are more than just an inconvenience for your business. They also risk customer dissatisfaction and potential damage to your brand’s reputation. Although…
