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5 Tips for Better Supply Chain Management
Supply chain management is by no means an easy task. The term encompasses all that is required in the entire production flow of a good or service - from the raw materials, to the processes and/or manufacturing, delivery and even beyond. Regardless of how big or small your company is, the supply chain is likely to be a complex web of elements. So much so that numerous models have attempted to simplify its key components to make it easier to understand and effectively manage. One such example is the SCOR (Supply Chain Operations Reference), developed by the supply chain council [...]
The Importance of Supply Chain Diversity
In this blog post, I want to talk about the importance of supply chain diversity and why it’s beneficial for large companies to look to diversify their suppliers. Not only does this strategy present significant advantages to the company in hand in terms of agility and the ability to adapt to a changing market, but it also has significant economic and social benefits. Let’s begin then, by looking at what supply chain diversity actually means. What is Supply Chain Diversity? Supplier diversification is a term that is associated with the strategy of manufacturing businesses to broaden the range of suppliers [...]
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