Managing your supply chain has never been more important – or more difficult. Pendulum swings throughout the supply chain as a result of new changes in consumer demand can wreak havoc on production and business operations for manufacturers, wholesalers, and retailers alike. Even worse? This pendulum swinging creates product inventory unaligned with actual consumer demand, […]
The Procurement Pendulum & What To Do About It Read More »
Let’s face it – procurement isn’t easy. Today’s procurement organizations are faced with the daunting task of becoming both smarter and more agile while also remaining cost-conscious. Needless to say, procurement must think outside the box to create winning strategies for 2023. But what does this look like? We recently hosted a webinar with our
The 4 Pillars of Procurement Success in 2023 and Beyond: Webinar Recap Read More »
Chief Procurement Officers (CPOs) are under constant pressure to reduce costs in their supply chain. They often try to achieve this goal in two ways: by focusing on doing more with less or by negotiating better pricing on purchased materials. But all too often, efforts to implement cost-cutting initiatives are thwarted by one culprit: messy
3 Challenges To Managing Procurement Data & How To Overcome Them Read More »
A resilient electronic component supply chain can endure, if not avoid, disruption and setbacks. As a result, companies worldwide are looking to invest in supply chain technologies to achieve more operational performance, increased productivity, flexibility, and risk reduction. Shortages and inflation have resulted from heightened demand, trade restrictions, factory closures, and rising freight costs. In
7 Steps to Building a Resilient Electronic Component Supply Chain Read More »
Electronic Component supply chains serve as product highways creating a clear path from concept to delivery. A great supply chain is frictionless, fast, and efficient. Many factors contribute to the quality of a supply chain, some of which are beyond our control. The past two years have been extremely difficult for supply chains. Even those
Creating a resilient electronic component supply chain in the face of a recession Read More »
2020 and 2021 were years like no other. First, the global shutdown flipped the supply chain world on its head, exposing inefficiencies with lasting repercussions. Businesses were left with billions of dollars in unsold goods, causing inventory-to-sales ratios to surge for a short time before businesses liquidated these inventories. Then, as the economy recovered, businesses
Navigating Toward a World-Class Supply Chain During a Looming Recession Read More »
Lytica’s own Chief Technology Officer, Ken Bradley, recently took some time to chat with Martin Harshberger on the Manufacturing Supply Chain CEOs podcast. They discussed everything from industry challenges to best practices on procurement and approaching negotiations to where he sees the future of supply chain resiliency. As the former Chief Procurement Officer at Nortel
There is significant value behind giving our customers a heightened sense of confidence and market knowledge before going into negotiations. That’s why we developed SupplyLens™ Pro API, letting us connect with customers’ systems to transfer information faster, more securely, and more accurately. Too many companies are operating on multiple systems siloed from one another. This adds
In a previous post, we discussed how technology’s rate of adoption is getting increasingly shorter, and faster. For those companies remaining stagnant in legacy systems, the hustle needed to catch up to those businesses that have adopted innovative solutions more quickly becomes insurmountable. It also reveals several operational pain points. Focusing on business adoption enables
It’s not news that COVID-19 flipped the supply chain ecosystem on its head, revealing cracks in an industry ripe for disruption. The gap it caused between supply and demand made it hard to get an holistic overview of the market, as quality, supplier search, and price fluctuations were in disarray. Not to mention, the ‘acceleration
The Rate of Acceleration and Its Effect on the Supply Chain’s Future (Part 2) Read More »
