14 Sep 2021

Lead Time Reduction through Value Stream Mapping

2021-09-14T00:17:46-04:00September 14th, 2021|Categories: Inventory Management, Lead Time Reduction, Lean Manufacturing, Risk Mitigation|Tags: , , , , , , , , |

Lead time reduction is something all manufacturers wish to achieve. By identifying work-in-process (WIP), value stream mapping helps to pinpoint which processes in a production sequence drive overall lead time. Finding ways to reduce work-in-process (WIP) helps to reduce lead time.

25 Aug 2021

Procurement Outsourcing Vs. Insourcing

2021-08-27T09:42:27-04:00August 25th, 2021|Categories: Inventory Management, Risk Mitigation, Supply Chain Management|Tags: , , , , , |

Outsourcing the procurement of some materials (direct or indirect) is appealing since most manufacturers lack the capabilities or capacity to successfully capture the full value of total spend optimization. Procurement outsourcing providers employ many resources that client companies often lack in sufficient quantities such as procurement expertise, category knowledge, technology, and processes. Yet, while outsourcing procurement has its advantages it also poses some risks…

24 May 2021

3 Keys to Making Vendor Managed Inventory (VMI) Work

2021-05-31T20:43:30-04:00May 24th, 2021|Categories: Inventory Management, Lead Time Reduction, Risk Mitigation, Supply Chain Management|Tags: , , , |

The ultimate goal of Vendor Managed Inventory (VMI) is cost reduction. VMI achieves this by better controlling material and information flow. In VMI, the supplier performs the function of planning inventory for the client. The information must be shared between the two parties to allow the supplier to manage a high level of inventory visibility at the client’s location. Rather than the client having to place an order when stock runs low, it is the supplier’s responsibility to…

25 Apr 2021

Supply Chain and Logistics KPIs

2021-05-03T07:07:59-04:00April 25th, 2021|Categories: Inventory Management, Lead Time Reduction, Risk Mitigation, Supply Chain, Supply Chain Management|Tags: , , , , , , , , |

Key Performance Indicators (KPIs) are an efficient way to measure the overall health of an organization, project, team, or individual, When it comes to supply chain and logistics operations however, there’s often confusion over which metrics to use or even how many KPIs there should be. The truth is, there isn’t a standard number of KPIs that must be used. The specific measurements and number of metrics to utilize completely depend on your specific needs.

2 Mar 2021

Cost Multiplier Effect of Lead Time

2021-03-09T21:15:40-04:00March 2nd, 2021|Categories: Risk Mitigation, Supply Chain|Tags: , , , |

Lead time has a significant impact on inventory level. Thus, reducing lead time should be top of mind for manufacturers looking to better control their parts inventory. Long lead times tie up cash in huge inventories. This is cash that could be better used elsewhere in the business such as generating more sales or improving competitiveness.