Question

What recommends solution and justification in the logistics and supply chain operation management?

Answer 1

Recommend Solution and Justification for Supply Chain Management:

• Automation: Automation is the next big thing in the Supply Chain Management. With implementation of EPR into the organizations, the whole supply chain is going automated
• Real Time Information Flow: One the most prevalent bottlenecks in the supply chain is the real time information flow. This will lead to inventory mismatch at all the stages like, supplier, manufacture and distributor
• Just-in-Time: To improve the efficiency, now more and more companies going for JIT approach invented by Toyota. In JIT, there is no need to have inventory stocking and product and raw material flow at the real time requirement
• Utilizing Data Mining: In every industry, data is recorded at every level of the supply chain. To make the system more effective, the companies need to make more use of this data using data analytics
• Performance Management: Having reliable supplier/vendor in one of the most critical competitive advantage that companies thrive for. By regularly monitoring and improving the vendor/supplier performance, a firm can lead its competitors by a long way