Data & the Supply Chain: Rethink your safety stocks
Whether it’s the PS5, microchips, metals, or plastics, 2021 has already been a year of product failures and disruption. But even if the health crisis has mainly caused these issues, their severity and duration have certainly revealed the inherent weaknesses in the current system.
Before the crisis, these flaws were already present, and businesses were well aware of them. In fact, the average number of days of stock coverage for manufacturers and retailers between 2004 and 2019 has increased by 32%.
Delays and shortages are therefore expected to increase in number and intensity over the next few years. So, how should we rethink our safety stocks? How can we optimize raw material and component inventories? And how can new technology help?
- Which calculation method to adopt for your safety stock?
- How to improve the accuracy of your forecasts?
- How a probabilistic approach can help you gain resilience?
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