We can’t always plan for all circumstances, particularly in Supply Chain. But we need to at least ‘think through’ some worst-case scenarios and have some conceptual plans in place.
So how good is your Supply Chain Planning? What kinds of things do you plan for?
Watch this video:
Best Regards,
Rob O’Byrne
Email: [email protected]
Phone: +61 417 417 307
BLACK SWAN PLANNING IN SUPPLY CHAIN IS IT PERTAINING TO DISRUPTION IN
SUPPLY CHAIN ONLY; SINCE TODAY DISRUPTION IS A KEY WORD IN SUPPLY CHAIN.
REGARDS
Yes indeed. Black Swan events are usually classed as being ‘one off’ unforeseen events.
Excellent point, Rob, thank you. The novel coronavirus and the Suez canal blockage really highlight the need for supply chain visibility, flexibility, and resilience. I’m an undergraduate student in the US studying Supply Chain; it’s fascinating to see how the industry is adjusting to these disruptions. The landscape of the industry appears to be changing for the better. Automation innovation should be a consideration for long-term solutions, in my opinion.
Yes indeed, automation and AI are on the rise
What are KPIs that we should measure for Production and Material planning?
We want to optimized the cost involved in the inventory storage for both RM and FG. How do we standardize the process that how much inventory we should store. How to calculate the optimum level of inventory for both RM (imports) and FG that we should have in our warehouses?
That’s a really big question that requires a very long answer. But a key thing to focus on is demand forecasting, forecast accuracy, and production accuracy (make to plan) It is often temping to make more than is needed to gain production efficiencies.