Overview of Circular Supply Chains
What is the Circular Supply Chain? The circular supply chain involves recycling materials and manufactured goods for as long as possible, focusing on optimizing a product’s life cycle with circular practices and positively impacting the environment. This approach embodies the core circular economy principles, ensuring a transition from the traditional linear supply chain to a […]
What is Supply Chain Traceability?
What is Supply Chain Traceability? Supply Chain Traceability is the path a product journeyed from raw material through to where it eventually reached, while collecting and storing data at each stage to enhance transparency, quality and efficiency. This allows businesses to attain supply chain visibility, enhance supply chain risk management and conduct effective supply chain […]
What is Product Traceability?
What is Product Traceability? Product traceability logs details about manufacturing and supply chain. It controls the quality, lowers the recall costs and increases the production. Such a process is necessary for the effective operation of product traceability manufacturing. What is Traceability in Manufacturing? Manufacturing traceability is the act of keeping records about inspection results as […]
What is Backorder?
What is A Backorder? Backorder is the term used for an out-of-stock product that a business continues to sell and promise delivery as soon as inventory is replenished. This leaves the businesses to maintain order processing and keep customers until they are ready for the delivery. Knowing the backorder process and having the ability to […]
Digital Twin in Manufacturing
What is a Digital Twin in Manufacturing? A digital twin in manufacturing is a virtual model of a physical system developed through the use of sensor data and analytics. It simulates and predicts system performance to help manufacturers visualise and solve problems efficiently. This approach improves operational efficiency and the digital twin manufacturing paradigm is […]
What is Digital Logistics?
What is Digital Logistics? Digital Logistics is a technology that automates and digitises supply chain processes. Real time tracking, data transparency, automation and features like the above help boost operational efficiency. It enables digital transformation of order fulfilment, lowering costs and using digital solutions in logistics to create digital twins for forecasting visibility and digital […]
What is Production Lead Time?
What is Production Lead Time? Production lead time is the time it takes for a product through its manufacturing process including sourcing of materials, assembly, and delivery. Shorter lead time in production makes production meet the customer’s satisfaction by timely delivery. Product complexity and planning efficiency in production logistics are the key determinants of the […]
What is Direct and Indirect Procurement?
What are Direct and Indirect Procurement? Direct and Indirect Procurement are essential components of Procurement strategies, ensuring efficient operations. One might wonder exactly ‘what is direct procurement and indirect procurement?’ In short, Direct procurement focuses on acquiring production-specific materials, while indirect procurement supports operational needs. Both enhance supply continuity and cost-effectiveness, crucial for business success. […]
Procurement Strategic Sourcing
What is Procurement Strategic Sourcing? Procurement strategic sourcing is a systematic approach to adopting best practices in procurement that focuses on efficiency, cost-effectiveness and supplier performance taking into account lifecycle costs. In doing so, this process moves traditional procurement from tactical to strategic decisions, making procurement decisions a function of organizational objectives. Using the strategic […]
What is Perpetual Inventory System?
What is the Perpetual Inventory System? When reading about what is perpetual inventory system, one can see that it utilises computerised tools to track finished goods inventory and raw materials in real time. By continuously updating records with every purchase, sale, or manufacturing order, it minimises inventory shrinkage, enhances vendor managed inventory, and supports just-in-time […]
