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5 Ways to Optimize Manufacturing Supply Chain Management

Bhagyashri Kambale | February 01, 2022 | 582 views
5 WAYS TO OPTIMIZE MANUFACTURING
A strong supply chain in manufacturing reduces interruptions, which may cost delivery businesses substantial time and money, as well as degrade their brand.

Maintaining consistency is important in any form of business. However, the important question that remains to be answered here is how to achieve consistency when the driving factors seem to be out of the company’s direct reach.

“The future of manufacturing is a critical enabler of economies.”

– Kathryn Wengel

In this article, we'll highlight the five ways to create a strong supply chain that helps any business reduce the risk of disruption and, finally, cost. Furthermore, we will discuss the supply chain leader, Cisco Systems, and how it ranked first in the Gartner supply chain top 25 for 2021.

How Supply Chain in Manufacturing Is Different

A well-functioning organization requires an effective supply chain. However, supply chain management in manufacturing is even more vital.

Below are the three reasons why supply chain management is different and vital in manufacturing. 
  • Products are more complex than they have ever been
  • Brand owners no longer manufacture their own products
  • Manufacturing is becoming more technologically advanced

5 Ways to Build a Strong Supply Chain


Strengthen Your Relationships

Strong relationships require both parties to be transparent and to continually aim for mutual benefit. Manufacturers in supply chain management must recognize the significance of building strong associations with vendors and should act likewise.The primary benefit of a great, healthy vendor relationship is that it enables you to maximize the value of your business. The more familiar you are with your suppliers, and the more familiar they are with you, the more likely you will receive personalized service, preferred pricing, and exclusive terms.

Effective supplier connections assist your business in the following ways.
  • Delivery of high-quality materials on time
  • Production goes off without a hitch
  • Take advantage of incredible deals
  • Excellent service
  • Saving your business time and money

Expand Your Supply Chain

Maintain good working relationships with multiple vendors to ensure the efficient operation of your supply chain. This encourages healthy competition, which might lead to reduced prices and better service. A diversified supply chain enables you to look outside the confines of your organization while also fostering innovation and more creative approaches.

Diversification of your supply chain provides flexibility, allowing you to adapt to changing market trends and consumer expectations. By diversifying your regional supply base, you may be able to provide more competitive rates on a local level.

Maintain Accurate Data

Both you and your supplier will inevitably suffer losses if your numbers are incorrect. Make sure your estimates are based on correct data or numbers and that you've taken into account all possible demand scenarios before drawing them. Collaborate with suppliers in the formulation of projections using your strong supplier ties. Under-and over-delivery and over-stocking can be avoided, and the likelihood of higher freight charges for urgent orders can be decreased.

Organize Integrated Systems

To make informed decisions at all levels of your business, you need a system that collects, integrates, and analyzes data. Supply chain integration is the process of establishing coordination and expanding connectivity across the whole supply chain, from procurement to production planning to logistics.

Advanced technological solutions have made supply chains more efficient and simplified than ever before. Software automation in supply chain management also helps in decreasing the stress on employees, minimizing errors, and improving resource utilization by utilizing high-quality software.

Always Have a Plan B

The risks associated with your supply chain can be reduced significantly, if not eliminated. An effective disaster recovery strategy is a contingency plan that must be prepared keeping in mind all the worst possibilities. There are numerous approaches to mitigating supply chain interruption, including regionalization, segmentation, and supply chain diversity.

Cisco Systems Tops the Gartner Supply Chain Top 25

For the second consecutive year, Cisco Systems is ranked first in Gartner's supply chain top 25. In addition, Gartner reports that the IT company's agility and competency in environmental, social, and governance (ESG) efforts prioritized critical infrastructure for hospitals and vaccine research. Cisco's sustainability standards are integrated into its supply chain business processes to ensure continual improvement and the generation of significant change necessary to manage ESG.

Cisco established two new targets for greenhouse gas emissions (GHG) reductions after reaching specific, ambitious targets one year ahead of schedule: A 30% reduction in supply chain GHG emissions, and by 2025, 80% of Cisco's component, manufacturing, and logistics suppliers will have a public GHG emissions reduction objective.

Final Words

A supply chain is a vital component of nearly all forms of business. If you are facing difficulty in effectively controlling your business's supply chain, consider the techniques suggested. The manufacturing supply chain process flow must be well-designed and well-executed to successfully complete the production cycle. Today's technology enables you to transform a complex supply chain into a simpler one that aids in risk anticipation and reduction. However, utilize this technology wisely and keep in mind that interpersonal relationships remain a critical component of supply chain success.

FAQ


How to build a strong supply chain?

When developing a robust supply chain, flexibility, data, future thinking, integration, and innovation are some of the most significant factors to be kept in mind. Moreover, keeping a backup of everything is critical.

What factors characterize a strong supply chain?

Visibility, optimization, achieving the lowest feasible cost, punctuality, and consistency are key factors of a successful supply chain.

What is supply chain manufacturing?

In the manufacturing industry, the supply chain is responsible for facilitating the transfer and transportation of raw materials into finished products.

Spotlight

Schuler Group

Schuler offers customized first-rate technology in all areas of forming - from the networked press to press shop planning. In addition to press, our product includes automation and software solutions, dies, process know-how and service for the entire metalworking industry. Our customers include automotive manufacturers and suppliers, as well as companies in the forging, household appliance and electronics industries. Press from the Schuler Group mint coins for more than 180 countries.

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EVERSANA™ Announces Strategic Partnership with Compai Pharma to Expand Commercialisation Services Across the Asia Pacific Region

EVERSANA | July 18, 2022

EVERSANA™, a pioneer of next-generation commercial services to the global life sciences industry with its Asian regional headquarters in Singapore and offices across Japan, China and other countries in the area, and Compai Pharma, an enterprising pharmaceutical company offering full-service commercialisation with offices in Singapore and Malaysia, today announced a strategic partnership to expand service across the Asia Pacific region. Together, EVERSANA and Compai Pharma will provide medical and commercial resources to healthcare partners to support full market implementation and development for life science and pharmaceutical companies ready to expand into these markets. "As the needs of clients and their patients continue to grow, so too do our capabilities to scale delivery on a global level, The Asia Pacific region is one of the fastest-growing pharmaceutical markets in the world and requires regional expertise to increase patient access. Together with Compai Pharma, we're now able to drive greater value and services for our clients to support their evolving commercialisation needs." -Jim Lang, CEO, EVERSANA. Capabilities available through the partnership include consulting, market access, medical awareness, education and communication, pharmacovigilance, marketing & sales excellence, as well as distribution and additional services. "I am deeply honoured and excited to enter this partnership with such an esteemed company as EVERSANA, Our mission is to work closely with healthcare practitioners across APAC to ensure needed medications and devices are available for patients while also becoming a trusted partner to provide education and updates on the latest in clinical developments. This goal is highly synergistic with EVERSANA's global ambition." -Tim Cushway, Founder and Director at Compai Pharma. The partnership with Compai builds on EVERSANA's continued global growth, including recent expansion across the European Union and the United Kingdom. Additionally in June 2021, EVERSANA announced the growth of its medical communications and integrated compliance services across 18 European countries and in 10 local languages. About Compai Pharma- Compai Pharma was founded in 2017 with a headquarters in Singapore with a strong focus on healthcare business development focusing on medical, sales and marketing excellence. The company is governed by a lean and transparent management team, operating out of Singapore and Malaysia, that have experience and strong relationships across Australasia. The strategic imperative adopted by all members of the Compai team is to contribute in a dynamic, interactive and transparent manner building lasting partnerships. The initial focus has been with the introduction of a specialised high-dose IV iron, Monofer®, which has an important medical role across nearly all therapeutic areas – especially obstetrics and gynecology, surgery and anesthesia, cardiology, oncology, gastroenterology, and general practitioners – enabling strong networks and collaborations in both the private and public sectors. Compai is a Spanish word meaning 'friend' which characterizes our largely young, dynamic and passionate team that strives to bring first-class service to patients and our healthcare partners. About EVERSANA- EVERSANA™ is the leading independent provider of global services to the life sciences industry. The company's integrated solutions are rooted in the patient experience and span all stages of the product life cycle to deliver long-term, sustainable value for patients, prescribers, channel partners and payers. The company serves more than 500 organizations, including innovative start-ups and established pharmaceutical companies, to advance life sciences solutions for a healthier world.

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3D PRINTING

Fortify Ships FLUX CORE 3D Printer to IERUS Technologies

Fortify | October 06, 2022

Fortify, provider of advanced composite-photopolymer printers, announced today that IERUS Technologies received a FLUX CORE 3D printer and Flux Developer materials onboarding software for design and engineering of Defense Systems. The 3D printer will be used to realize complex RF (radio frequency) applications. "Placing a printer at the IERUS Technologies headquarters provides a critical resource to support the growing need for additive manufacturing solutions in electromagnetics for Defense, Fortify's printers are uniquely positioned to print low-loss 3D printing materials, enabling performance advantages where traditional manufacturing falls short (due to machining, weight, and size)." -Eric Versluys, Director of Defense Programs at Fortify. IERUS Technologies, a provider of engineering and design solutions for Defense and commercial customers, such as sensors and strategic systems, is designing novel RF structures such as Graded Refractive Index (GRIN) lenses leveraging Fortify's FLUX CORE system. The Flux Core system enables companies like IERUS to take advantage of the design freedoms enabled by RadixTM, a 3D printable low-loss material developed by Rogers Corporation. "The Fortify 3D printer line will enable IERUS Technologies to develop complex RF structures that push the limits of traditional RF architectures with novel electromagnetic phenomenologies." -Jason Keen, CEO of IERUS Technologies This announcement comes a few months after Fortify's strategic investment from In-Q-Tel and the development of a portfolio of electronic 3D printing materials. IERUS will leverage the FLUX Developer toolkit, an open platform for the development of viscous and filled resins, to optimize printing of RF devices. Fortify will be showcasing 3D printed RF structures printed on the FLUX CORE 3D printer at Array 2022 October 11 - 14 in Waltham, MA. About Fortify: Fortify is transforming the 3D printing industry with its patented DCM (Digital Composite Manufacturing) platform. DCM delivers new levels of additively manufactured part performance by introducing functional additives to photopolymers. By combining a deep understanding of material science with high performance mixing, magnetics, and polymer physics, Fortify is able to produce custom microstructures in high-resolution 3D printed parts. The company is currently focused on applications ranging from injection mold tooling to high performance end-use parts with unique mechanical and electromagnetic properties. Founded in 2016 and based in Boston, Fortify4 technology enables material properties and components unattainable using other additive or traditional manufacturing processes.

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