What do you think you’ll take away from this episode?

So let us focus on some of the essential ingredients to be considered while building a viable supply chain for your industry.

The first ingredient: customer request cycle

This is the timeframe it takes to process online requests, prepare them, and ship to the customers on an estimated timeframe.
The industry calculates the customer order cycle by dividing the annual demand by order quantity.

The second ingredient: Production

This incorporates guaranteeing that raw materials are continuously delivered on time to manufacturing production facilities, eliminating the need to acquire extra supplies from alternative sources, avoiding higher prices, and reduced profitability.

The third ingredient: Inventory

It is the area where the various operation such as quality and accuracy of the product is analyzed and moved from warehouse to consumers doorstep.

Remember, with the correct inventory detail, and you can automate various repetitive tasks. So you need to take little care in this area.

The next ingredient: Forecast accuracy

It is a crucial ingredient in lowering the inventory level associated with the scrap cost.

An accurate forecast report helps identify the industry’s growth level and financial grounds.

last essential ingredient: Overall expenses

As the cost plays a paramount role in the supply chain management.

It would be best to oversee all sorts of costs such as transportation, investment in time, goods, fuel, electricity, maintaining the equipment charges, and other disposal charges.

Building an effective supply chain needs a lot of patience and a robust planning strategy, the one way you can effectively optimize your supply chain is by bringing in automation to your firm.

And that’s the Logistics insight for today.

This is Alphonse, signing off, Bye