This issue of Inside Supply Management® reviews the challenges, trends and successes that are top of mind for supply chain organizations. Read about how reverse logistics is shifting to a value-oriented approach in the cover article and how Argentina plays a role in the lithium supply chain of the future in another feature. A third feature touches on continuing supply chain cybersecurity risks, while the fourth article is a first-hand look at a rural hospital’s unique approach to supply chains that has applications for other organizations.
In Inside Supply Management®’s annual technology, data and analytics issue, learn how artificial intelligence (AI) and generative AI are on track to revolutionize procurement — including tips for using such tools, how to avoid potential risks and how DuPont is using generative AI. You’ll find highlights of Institute for Supply Management®’s (ISM®) 2023 Data and Analytics Study, which examines the caution flags on the data speedway. Another feature delves into anticipating the next era of wartime supply chain strategies.
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Supply chains took center stage Monday, as President Joe Biden announced 30 initiatives designed to strengthen them, as well as, he said, “lower costs for families and help Americans get the goods they need.”
Work-in-process (WIP) inventory counts as an asset on a business’s balance sheet but offers little value beyond that since it cannot be sold. The amount of WIP inventory can provide insight into the health of a company’s supply chain or its finances.
Augmented reality (AR) and virtual reality (VR) provide immersive experiences that can enhance warehouse operations, order picking and transportation management, while also improving efficiency and accuracy.
The drought that is affecting Panama — a tropical country home to several rainforests — is also impacting global cargo shipments, delaying them, increasing costs and potentially leading to other disruption as the holiday season approaches.
One of the world’s biggest supply chain spotlights is on Argentina, part of the Lithium Triangle that is home to largely untapped reserves of the material that is essential to powering the next generation of technologies.
With public- and private-sector supply chains demanding greater visibility and transparency, cybersecurity threats are constant, so fighting them is a never-ending process for procurement organizations.
Rethinking bills of material and other sourcing processes has enabled a rural community hospital to manage availability of surgical supplies, reduce costs and optimize patient care — with potentially far-reaching results.
Doing business with diverse suppliers can provide bottom-line impact as well as increase client satisfaction, introduce innovation, reduce costs and develop future clients. And yet, programs often fail to deliver results because of poor communication.
Financial implications and impacts make this month’s metric, inventory age, so critical.
Even for items that are inexpensive and/or have long shelf lives, inventory age is important to track, particularly in tandem with inventory turnover ratio.
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