December 04 2015
By: Staci Cretu, Marketing and Communications Manager
The holiday season is creeping up slowly for many of us. But for some it's coming quicker than we can blink an eye. Donna Fritz, Manufacturing.net outlines 'The 12 Days of Christmas' For The Supply Chain.
Fritz like others are counting down to the holidays and as we inch closer by the minute, supply chain operations are gearing up in the hopes of creating lots of happy customers and little, if any dissatisfied ones.
According to Fritz, if you have supply chain responsibility, there are 12 essential tips to follow during the holiday season to stay ahead of the rush:
- Avoid service gaps or delays by gauging transportation cargo capacity and availability
- Forecast, forecast, forecast to align inventory levels with your order projections or promotions that may shift demand
- Communication with trading partners is critical, ensuring they have proper inventory levels
- Don't let your inventory go missing. Ensure you have real-time visibility of your products.
- Plan for returns based on defects or high return rated products
- Keep a close eye on your customer expenses to revenue ratios
- A rapid replenishment plan for hot items will improve inventory planning
- Collaboration with suppliers will help with faster fulfillment and customer satisfaction
- Let someone lead the way, aligning supply chain strategy across the organization
- Look at the overall system, coupling revenue and expense activities into one view
- Data-driven insights will provide better operational efficiency
- Prepare, prepare, prepare to minimize risk