Supply Chain Trends
Is Your Procurement Team Staying on Top of “Tail Spend?”
After procurement departments source 80 to 85 percent of their companies’ purchases, the remaining 15 to 20 percent of purchases are referred to as “tail spend.” According to a report from the consulting firm the Hackett Group, managing tail spend is an opportunity to not only lower costs, but also help procurement in tackling its…
Read MoreHow Can Your Company Improve Cargo Security?
For the most part, supply chains are highly technical and efficient operations, and yet they’re still very vulnerable to disruptions, attacks and the loss of goods. In the United States, over $35 billion is lost annually to theft and overseas; supply chains are at an even greater risk from thefts and violent hijackings. The U.S.…
Read MoreWhy Supply Chain Needs to Embrace 3-D Printing to Reach Customers
Thanks to ever-increasing levels of supply chain efficiency, customers are demanding more when it comes to acquiring the goods they need. Many suppliers are meeting these greater expectations by embracing 3-D printing and supply chain stakeholders need to embrace the change as well. Opening up to social media Rising in popularity at almost the same…
Read MoreMost Manufacturers Aren’t Prepared for Cyber Attacks
According to a recent report by professional services firm Sikich LLP, most manufacturing companies aren’t prepared for cyber attacks, such as the theft of intellectual property and sensitive data. Manufacturers might not think they are in the crosshairs of hackers and cybercriminals, but news story after news story shows that manufacturers aren’t immune to online…
Read MoreU.S. to Move Back to No. 1 on the Global Manufacturing Competitiveness Index by 2020
We’ve heard a lot about how countries with low labor costs are outcompeting the U.S. when it comes to manufacturing, but a new study from Deloitte and the U.S. Council on Competitiveness has found the U.S. will overtake China as the most competitive manufacturing nation by 2020. The prediction is based on survey reactions from…
Read MoreHow the Internet of Things Helps Efficiency in Logistics
The “Internet of Things” refers to containers, appliances, equipment or other objects that have added functionality thanks to an internet connection. For instance, radio-frequency identification (RFID) tags placed on packages allow for the precise tracking of shipments. With a number of connected devices already available and more being developed each day, the logistics field is…
Read MoreLinear Optimization Improves Resource Usage
Deciding how to use resources is a universal business concern. In today’s hypercompetitive ecosystem, it’s vital to your company’s fiscal health that its people and resources are used most effectively. When dealing with complicated networks, achieving maximum efficiency can be challenging. Companies looking to maximize resources often make decisions on product mix, logistics and demand…
Read MoreHow Can You Increase Your Manufacturing Sales through eCommerce?
For traditional manufacturing companies, selling products directly over the Internet can seem like something hip startup companies out in Silicon Valley do. However, many manufacturers are finding eCommerce sales can boost their bottom line. In fact, those that embrace eCommerce often say they wish they had done so earlier. Out of what was initially just…
Read MoreEvaluate Your Value Chain to Provide More to the Customer
A supply chain is designed to acquire resources in order to create a product or offer a service. A value chain, on the other hand, is designed to add value along the various steps of the supply chain, and its ultimate goal is to gain a competitive advantage over a competitor. Together, these two chains…
Read MoreImprove Manufacturing Efficiency by Looking at Your Energy Usage
As the economy picks up steam, the competition between companies is picking up as well, highlighting the need for organizations to seek out every advantage possible. Increasing energy efficiency is one way companies can gain a much-needed advantage over a competitor. To determine if significant energy savings can be found, many companies start by conducting…
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