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Supplier Quality Management: What it is, 5 Key Metrics to Know & a 4 Step Supplier Evaluation Process

GlobalTranz

The next posts in the series will break down metrics and issues to consider in SQM by industry and conclude with a case study on the application of SQM. 5 Key Metrics to Use for Scoring Supplier Quality Management (From LNS Research ). The definition of this metric is similar to the way it sounds. Cost of quality.

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Why You Should Conduct Internal Quality Audits

Arena Solutions

Many companies within aerospace and defense , electric vehicle (EV) technology , medical devices , biotechnology , and clean tech sectors are seeing lucrative business opportunities to compete in the market. In 2022 alone, the global aerospace and defense market size has grown from $795.92 billion to $855.62 billion in 2023.

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Prescriptive Analytics for Supply Chain Optimization: 6 Powerful Use Cases 

ThroughPut

These analytics techniques serve as essential tools to transform descriptive metrics into actionable insights and informed decisions. Demand Forecasting In this highly volatile and unpredictable market, demand forecasting can be particularly challenging if it were to be done manually or with half-baked tools.

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SCRC Student Project Lineup Off to a Great Start…

Supply Chain View from the Field

The curriculum emphasizes the importance of collaboration, through the application of practical tools and approaches that drive mutually beneficial outcomes. Supply chain risk is an important subject in today’s environment, and a set of risk tools is presented and applied. Establishing process models for global aviation manufacturing.

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Procurement KPIs & Metrics: What To Focus on and How To Measure

Precoro

Keep reading to learn in detail about the top 13 most crucial procurement metrics, how to track them, and what to focus on to drive the most value to your company. This metric helps the procurement department reduce future costs and prevent price increases due to inflation or other economic factors. Cost Avoidance.

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How Machine Learning Is Redefining Supply Chain Management

IQMS

Also, machine learning is leading to more accurate measures of Overall Equipment Effectiveness (OEE), a key metric many manufacturers and supply chain operations rely on. Council of Supply Chain Management Professionals (CSCMP) Supply Chain Quarterly, Machine learning: A new tool for better forecasting, Joseph Shamir, Q4, 2019.

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Tracking Fixed Assets Across the Modern Supply Chain

RFgen

Failure to accurately track key metrics can lead to huge losses down the road. Aerospace & Defense. Keeping track of equipment, tools and machinery used in large-scale manufacturing of complicated projects makes asset and inventory tracking software a must. Fixed assets represent high-value inventory and can take many forms.