As the ripples from 2020’s global events are still being felt throughout the manufacturing industry, now more than ever it is essential for manufacturers to manage their supply chain, forecast demand, and use production resources as efficiently as possible. It is during challenging periods such as these that manufacturing businesses need to review the tools they use to plan and manage inventory and production. [...]
The global pandemic is forcing everyone to reassess their inventory management processes. A recent bulletin from the Cleaning and Hygiene Suppliers’ Association (CHSA) has called on medical supply businesses to urgently address their supply chains and plan for shortages. Discussing the impact of COVID-19 on the cleaning and hygiene sector, it cited the fragility of just-in-time supply chains, reduced production capacity, and unprecedented demand [...]
I apologize for using the cliché ‘new normal’ but we really do have to accept that the practices and expectations of procurement in the modern enterprise have changed and may never be the same again. As a result of the disruptions caused by COVID, procurement is no longer a clerical and transactional role but needs to step up to show how it can be [...]
One thing that procurement departments are working intensively on at the moment is how to spend more effectively. That doesn’t mean just cost-cutting, but where to prioritize spending. Given that direct and indirect materials makeup at least 50% of the typical manufacturer’s costs, what procurement can do to improve inventory management is an obvious place to start. (more…)
It goes without saying that these are testing times for the UK’s Movers and Makers. One of the key lessons has been the importance of having a robust procurement strategy. Only then do you have the agility for effective supply chain management. By embracing a comprehensive enterprise resource planning (ERP) system, manufacturers and distributors can adapt and pivot as procurement professionals have business-critical data [...]
This month we observed World Food Safety Day. This year’s theme of “Food safety, everyone’s business” is particularly relevant as approximately 650 products including food-related items are recalled in Australia every year, but only about half of them are returned to the retailer. In October last year, the ACCC reported that there were about 1.7 million recalled products still in Australian homes. (more…)
What do exploding phones, automobile exhaust emission problems, and food and drug contamination have in common? They embroiled the companies that made and distributed them in a complex and costly product recall process. The impact of recalls Product recalls are one of the biggest risks that manufacturers and distributors have to face. According to the insurance industry the average cost of product recall claims is over [...]
There seems to be quite a lot of confusion around Cycle Counting vs. Stocktaking. So, before we discuss the importance of Cycle Counting, we will need to understand WHAT Cycle Counting is, and What Cycle Counting is NOT: What is a Cycle Count? Traditional inventory audits or stock takes, involve counting all of the stock that the organization has on a particular date. Typically this is [...]
The current power crisis in South Africa is teaching all of its citizens a few lessons in inventory, distribution and asset management. Here’s how these lessons translate into better inventory management for all manufacturing operations. (more…)
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