Businesses today are a part of a highly complex supply chain involving multiple suppliers and vendors located at different places across the world.
SubmitWhen a disruption or bottleneck occurs in any part of the chain, it is often impossible to identify the culprit without a complete supply chain analysis. Without identifying the source and cause of the problem, it is not easy to achieve targeted sales and growth.
Supply chain analysis is the process of evaluating every stage of a supply chain starting from the time the business acquires raw materials or supplies from its suppliers to the delivery of final products to the customers. The purpose of the analysis is to determine which part of the supply chain can be improved or shortened to deliver the product more quickly and efficiently to the customers. The philosophy behind supply chain analysis is that the more flexible a business can be, the faster its growth rate will be.
Supply chain analysis helps businesses identify the suppliers and/or processes that can be bypassed, reduce inventories, schedule events and programs, and improve forecasts. This increases efficiency, reduces costs and minimizes risks. It helps businesses optimize their processes to remove redundancies in the supply chain while helping create new value-added processes. Continue Reading