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...
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....
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...
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...
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 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...
