- VIDEO
Optimizing your supply chain network for improved business outcomes
August 2023
“Supply Chain Network Optimization is a complex and iterative process. It requires careful analysis, collaboration and adaptation to achieve the desired outcomes…” ArcBlue’s Director for South East Asia, Chris Hampden provides tips for organizations looking to optimize their supply chain operations.
Transcript
Supply Chain Network Optimization is all about designing and managing your supply chain network to make sure that your products flow from suppliers to customers in the most efficient and cost-effective way possible. It involves analyzing various components, such as:
- the location of your facilities and operations,
- how you set up your transportation, and
- balancing your inventory to meet customer demands whilst minimizing carrying costs.
All while factoring in risk management – to mitigate supply chain risks like disruption, delays and uncertainties.
How it works is that mathematical modelling, simulations and optimization algorithms are used to analyze scenarios and made data-driven decisions. Advanced technologies like machine learning and AI improve decision-making and enable real-time optimization. So here are my tips for where to start with your supply chain network optimization:
- Gather accurate and comprehensive data about your supply chain network.
- Assess your current state network
- Identify the areas for improvements
- Create your ideal unconstrained future network
- Create and refine scenarios by introducing constraints.
- Evaluate your responses while considering your limitations.
- Develop financial models to assess the impact of different optimization scenarios
- Monitor and adapt as you go.
Continuously monitor the performance of your optimized network and make necessary adjustments as needed, because Supply Chain Network Optimization is a complex and iterative process. It requires careful analysis, collaboration and adaptation to achieve the desired outcomes.
At ArcBlue, we can help with this, utilizing industry-leading digital tools and best practice methodologies to optimize your network, saving money and improving customer service in the process.
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