Look at manufacturing through the prism of information
A data-driven value chain and automated processes help manufacturers mitigate operational risks across the global supply chain. Significantly, uninterrupted flow of information ensures prompt response to demand, while maintaining low inventory.
A two-part series published at Manufacturing.net discusses how manufacturing units can boost customer satisfaction and margins:
- High inventory turn rate: Optimize processes based on bottleneck throughput, select transportation management systems that ensure buffer stock, and delay the use of production components.
- Flexible pricing mechanism: Adopt a holistic solution to implement price control, manage promotions, effect risk-based post-shipment price adjustments, transfer exchange rate risk to customers, and process claims accurately.
- Information bridge: Streamline stakeholder networks for collaborative planning, forecasting and replenishment. In addition, implement real-time data models to schedule production, track consumption, and reconcile bank statements.
Published with the permission of Manufacturing.net
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