By focusing on improving supply chain resilience there is an opportunity for OEMs to position themselves for growth and profits, reports The Engineer.
Talking with management consultants, Vendigital, they recommend companies to focus on a more agile approach to mapping customer demand instead of “steady state” conventional ERP mapping.
“Most manufacturers realise that improving supply chain resilience has become a priority and could help to boost their performance financially and operationally in the year ahead. But where should they start?
“Instead of using traditional enterprise resource planning (ERP) systems, which are typically based on ‘steady-state’ models, to inform a company’s operational structure, manufacturers need to take a more agile approach, based on real-time data. Data-based insights can be used to map demand and inform the development of a new operating model.”
Vendigital suggests that manufacturers may need to invest in advanced technologies, such as digital twin technology, robotics or AI systems to get to the market faster.
“Using data analytics to guide investment decisions can help to future-proof the business and support its growth strategy,” they say.
Another key step to improving supply chain resilience, reports The Engineer, is to get closer to the customer. “Deep-level understanding of market trends and regulatory drivers will enable them to configure their supply chains based on the right parameters.”
With more than three decades of supply-chain expertise, Astute Electronics has a very deep understanding of supply chains and is ideally placed to work with you on your daily component requirements.
Either through the hundreds of manufacturers we purchase directly from, or the international network of component supply-partners offering full product traceability, Astute Safe-Supply, run by sourcing experts and offers a deeper insight into the global components markets.
With real-time access to the latest listings and prices cultivated through several decades of close supplier partnerships, we are able to spot price disparities and leverage product price variances to deliver cost-effective solutions to customers, whilst ensuring a quality, risk-free supply.
For more help with looking at supply chain options, contact Astute Electronics here
