Supply Chain Investment and the Importance of Diversification

40 years ago, China attempted to perfect the "Third Way"; Keep authoritarian control while allowing a few to enjoy a "capital-ish" market. As China's less expensive labor & material costs became apparent, companies from all industries quickly migrated resources, and resourcing, to China to increase cost savings. With their entry into the WTO in Read Insight

2024-01-30T02:56:47-06:00January 30th, 2024|General News, Supply Chain Insights|

How does Forsyth Advisors Define “Supply Chain”

Most businesses define a supply chain as the activity between when a purchase order is placed, received by a vendor, produced, and delivered to a processing factory or warehouse for storage. But does a business make money when a product is delivered to their location? A supply chain includes much more and understanding that Read Insight

2024-01-16T05:25:16-06:00January 16th, 2024|General News, Supply Chain Insights|

Cost Reduction Mining within the Direct-to-Consumer Element of Your Supply Chain

For those in the process of scaling up your Direct-to-Consumer via Shopify or otherwise, pick and fill rates usually rule the Key Performance Indicator boards. However, stepping back and performing a supply chain visualization of your processes may be an effective way to bolster your supply chain. The questions below will help evaluate those Read Insight

2024-01-09T05:00:23-06:00January 9th, 2024|General News, Supply Chain Insights|

Tracking Commodities and Currency and Supplier Price Negotiations

Strategic sourcing internationally carries heightened level of complexities and simpler tactics can get lost when performing a supply chain visualization. Tracking commodity pricing and currency fluctuations is a meaningful add in to your cost reduction strategies with the added benefit of letting your supplier know you're watching during supply chain negotiations. Pricing on commodities Read Insight

2023-12-19T07:22:56-06:00December 19th, 2023|General News, Supply Chain Insights|

Not Just Duty and Tariff Avoidance, but Elimination

Way back in 2018, tariffs and duty costs became top of mind for importers. Prior, those costs were relegated to afterthoughts and the "cost of doing business" when importing products, especially from China. Today, the magnitude of the increases in tariffs (the 301, or "Trump" Tariffs) created added focus with a variety of supply chain Read Insight

2023-12-13T01:57:39-06:00December 13th, 2023|General News, Supply Chain Insights|

How does Forsyth Advisors Define “Supply Chain”

Most businesses define a supply chain as the activity between when a purchase order is placed, received by a vendor, produced, and delivered to a processing factory or warehouse for storage. But does a business make money when a product is delivered to their location? A supply chain includes much more and understanding that Read Insight

2023-11-24T08:28:11-06:00November 28th, 2023|General News, Supply Chain Insights|

“Just in Time” Means As Much Inventory as You Need

Operations professionals have been preaching the Toyota Production System (TPS) with its the elimination of waste in all formats. A famous (infamous?) element of TPS is the concept of Just-In-Time (JIT) inventory with factories and project managers praising the reduction in inventory seen through its practice. As a result, Just in Time inventory has Read Insight

2023-11-20T02:30:03-06:00November 21st, 2023|General News, Supply Chain Insights|

Cost of Quality in your Supply Chain: How it is calculated and how can it drive improvements to your supply chain?

A hidden effect on inventory costs is the Cost of Quality (CoQ). The CoQ reflects the amount of money spent managing malfunctioning product, damaged goods or stock out due to inconsistent supply An example: If you're shipping 1,000 items on a container that you sell on the market for $5 each The container costs Read Insight

2023-11-13T11:06:42-06:00November 14th, 2023|General News, Supply Chain Insights|

Indications That Your Supply Chain Needs An Evaluation (Answer: You Have One)

A supply chain is not just from a supplier to your warehouse, but rather from a Purchase Order through to Supplier, Delivery of product to a customer and receipt of payment and, hopefully, feedback on the product. Here are a few things to watch for as indications that you supply chain needs a review: Read Insight

2023-11-06T09:27:11-06:00November 7th, 2023|General News, Supply Chain Insights|

The A, B, C, (and D’s) of Inventory Management: Aligning Inventory with Supply Base and Demand

Inventory levels are driven by two metrics: Volume and Volatility, which focuses on a team's ability to maximize a customer's fill rate and your revenue. Forsyth Advisor presents how historical data can help set, and manage, inventory levels. Using historical data, a supply chain team should review a group of SKU's while asking the Read Insight

2023-10-30T10:40:37-06:00October 31st, 2023|General News, Supply Chain Insights|
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