Don’t let a supply chain control your business In the past 25 years, major original-equipment manufacturers around the world have shifted to the Japanese tiered approach to supply chains. They’ve radically reduced the number of suppliers that they directly manage and off-loaded responsibility for supervising the rest, along with the task of building major subsystems,…
Inventory Management Techniques that will save you money Some of the most important techniques of inventory control system are: Setting up of various stock levels. Preparations of inventory budgets. Maintaining perpetual inventory system. Establishing proper purchase procedures. Inventory turnover ratios. Always Better Control (ABC analysis). Setting up of various stock levels: To avoid over-stocking…
THE USE OF THIRD PARTY LOGISTICS SERVICES The importance of logistics and supply chain management is increasing in manufacturing companies as they are sourcing, producing and distributing across the world and hence managing their supply chain is getting very complex. However, outsourcing logistics activities such as transportation, warehousing, inplant material handling and other value-added services…
