Speed, Efficiency, Optimization. For many companies, actualizing this powerful trio can seem more like a dream than a concrete, achievable supply-chain goal. There are ways to realize all three, and the evolving excellence of supply chain technology is providing more and more opportunity to do so. Enter Big Calculations: the act of optimizing your business in real time, to create fast and efficient results.
Studies document that innovation in engineering and production works best when the two disciplines are contiguous. Pairing the two was problematic for one company until an online marketplace came to the rescue.
Segmenting customers and products to lower costs and improve profit margins also results in higher customer satisfaction, says Wade McDaniel, vice president of solutions development at Avnet Velocity.
The big North American distributor of industrial products was looking for a means to eliminate paper and curb the flood of e-mail exchanges generated by its supplier-management efforts. It also wanted to keep closer tabs on a growing supplier base. Time for an automated solution.
The global electronics contract manufacturing market is forecast to grow at a CAGR of 5.74 percent from 2012-2016, according to TechNavio analysts. One of the key factors contributing to this market growth is the need for original equipment manufacturers to optimize resources. With the fast-paced product development environment of high-tech electronics manufacturers, creating a closed-loop, traceable collaboration process with their contract manufacturing partners and suppliers is key to product efficiencies, quality, compliance and meeting time-to-market goals.