How Will a Recession Impact Your Supply Chain?
Recessions occur when there is a consecutive decrease in economic growth. The global economy is volatile, and its impacts can travel through many parts of business and society. Recessions happen when there’s a drop in real gross domestic product, income, employment, manufacturing production and consumer retail sales. When the economy goes south, ... Read More
March 19, 2020 lead time, supply chain, supply chain riskRecommendations for Managing Supply Chain Risks and Challenges
Globalisation means that our supply chains are more entwined and complex than ever. When a global disruption like the ongoing Covid-19 virus outbreak happens, its impact will be felt on both social and economic levels. Disruptions in the supply chain The Covid-19 outbreak is having a major impact on global supply chains, especially as governments [ ... Read More
March 4, 2020 Covid-19, supply chain, supply chain challenges, supply chain riskOffset These 5 Types of Supply Chain Risks
Today’s supply chain risks are increasingly diverse as disruptions can come from a wide variety of sources, including physical damage at production facilities, natural disasters, strikes and labour disputes, capacity issues, delays, inventory stock problems and incorrect forecasts. Supply chain risk management is becoming a top priority in pr ... Read More
September 26, 2018 supply chain, supply chain challenges, supply chain riskThe First Step to Controlling Supply Chain Risks
The supply chain describes the processes and transfer of products and information from the origin or supplier all the way to the checkout counter in-store. As this is such a complex chain involving many hands and sometimes multiple countries with corresponding currencies and regulations, it can be fraught with uncertainties and risks. The supply ch ... Read More
September 19, 2018 suppliers, supply chain, supply chain challenges, supply chain management, supply chain riskIs Your Supply Chain Vulnerable to These Risks?
Supply chains are comprised of technology, logistics and people coordinating with each other around the world. They are powerful tools, but there are numerous risks that can threaten the health and stability of any supply chain. It’s important to identify what poses threats to your supply chain and be prepared. With good planning, you can [&helli ... Read More
September 11, 2018 supplier relationship, supply chain, supply chain challenges, supply chain riskA Guide to Identifying Supply Chain Risks
You can limit the impact of supply chain disruptions on your business by identifying supply chain risks and then developing ways to mitigate them. Best practices document this process in a risk management plan. Supply chain risks come in varying forms, and with varying degrees of harm to your business. There are two main types […] ... Read More
September 6, 2018 supply chain, supply chain riskIdentifying and Managing Supply Chain Risk
Supply chains consist of many different activities and stages. Upstream are the suppliers and manufacturers who transform raw materials into finished goods, while the downstream supply chains distribute these goods and services that will eventually reach an end user. Supply chain risk is often unavoidable because of external factors that cannot be ... Read More
August 28, 2018 supply chain, supply chain riskLearn from these Supply Chain Mistakes
The supply chain is one of the most complex processes that a company must control. This is for many reasons including its vastness, its complexity with multiple businesses involved, its expanse over multiple geographical locations with multiple currencies and time-zones to contend with, and last but not least, its involvement of complex and vulnera ... Read More
May 10, 2018 logistics, supply chain, supply chain management, supply chain riskKeeping Your Supply Chain Sustainable
Sustainable supply chains are becoming increasingly popular among not only small, local businesses but also large multinational companies as well. This is first and foremost because they are seen as socially responsible and healthier for the environment. However, the benefits for your business itself should not be overlooked. In the article below, ... Read More
April 30, 2018 supply chain, supply chain management, supply chain riskBenefits of a Domestic Supply Chain
The success of a business, amongst other things, is largely dependent on their ability to supply their product or service to a customer exactly when and in what quantity they require. It is this ability that can be compromised by so many factors, the main one being supply chain management and accurate and reliable fulfilment […] ... Read More
February 17, 2018 suppliers, supply chain, supply chain risk5 Things to Know About Sourcing Globally
Global sourcing occurs when companies go beyond their home borders for sourcing goods and services. There are many benefits to doing so, but there also are risks involved, we have identified five major risks and some ways to mitigate them. Time Differences Having a supplier on the other side of the world often means that […] ... Read More
February 3, 2018 logistics, supplier relationship, suppliers, supply chain riskHops Aren’t Enough: Four Quick Wins for Brewery Supply Chain Success
Although craft beer still makes up a small percentage of the beer market, tastemakers are increasingly favouring pilsners, pale ales and stouts over crisp session lagers. The craft beer industry is approaching a crunch point, with more small scale craft brewers competing for consumer loyalty than ever before. Developing a reputation for innovation ... Read More
November 13, 2017 brewery inventory management, craft beer, just in time inventory, supplier relationship, supply chain, supply chain riskSupply Chain Risks and Inventory Management
There are a multitude of things that can go wrong throughout the supply chain, exposing the firm to different kinds of risks. Staff can get injured, delivery times can be delayed, goods and delivery vehicles can be lost, damaged or stolen, and weather conditions may require a detour. These disruptions may require changes to inventory […] ... Read More
August 24, 2017 supply chain, supply chain challenges, supply chain riskSix Tips For Inventory Management Best Practice
Inventory is one of the largest assets in a goods-based business, and even if your business is small-scale, chances are that a significant part of its capital is invested in inventory. In a goods-based business, your success depends on inventory being managed well. In this article we look at what best practice looks like in […] ... Read More
July 25, 2017 best practice, efficient inventory management, inventory tips, real-time inventory control, stock control, supply chain risk5 key ways to manage inventory management supply chain risks
It is imperative to understand the interconnected ways of inventory management supply chain risks so executives can tailor balanced and effective risk reduction inventory strategies for their businesses. Inventory management is crucial to the heart of a business’s profitability, and as such supply chain risk management is of extreme importance. T ... Read More
June 26, 2017 inventory management, inventory risk, risk management, supply chain, supply chain management, supply chain riskManaging Risk: Five Strategies to Strengthen Your Business’ Supply Chain
Supply chains make and break businesses. The best thought out marketing plans and the most efficient inventory management strategy are unable to compensate for stock simply not being there. Supply chain management, which is all about ensuring reliability and redundancy within the procurement process, is critical to business success. Let’s look at ... Read More
May 17, 2017 business management techniques, business success, suppliers, supply chain riskCreating Efficiencies in Distribution Inventory
Distribution and wholesaling revolve around inventory. Distributors are in the business of consolidating procurement and minimizing cost for retailers and other businesses. Because distributors work with narrow margins and compete extensively on price, efficient inventory management is essential. Let’s look at some ways that a distributor can car ... Read More
May 15, 2017 business efficiency, distribution, efficient inventory management, lean manufacturing, procurement cost, supply chain riskCommon inventory mistakes to avoid
Inventory management is a critical part of any business’ operations, and you need to get things right to avoid potentially far-reaching consequences. ... Read More
January 21, 2017 internal communication, inventory mistakes, overstocking, supply chain risk, understockingHow inventory software can help food manufacturers streamline their business
Let’s take a look at how inventory software can help create efficiencies, drive down costs and streamline business for food manufacturers. ... Read More
December 5, 2016 food manufacturing, raw ingredients, stock alerts, supply chain risk, track and trace