article thumbnail

Beyond Cost Optimization: Building Resilient Supply Chains in an Unstable Trade Environment

Logistics Viewpoints

For years, supply chains were engineered to be lean. Reducing cost was the primary objective, and most operational decisionsfrom sourcing to fulfillmentreflected that mindset. Lean models alone are no longer sufficient. But todays global environment is more unstable than it was a decade ago. AI also helps with scenario modeling.

article thumbnail

ZF’s Transition from Lean to Supply Chain Resilience

Logistics Viewpoints

The Transition from Lean to Resilience. No industry has been more committed to lean practices than the auto industry. Lean cuts inventory out of the supply chain. But when things go wrong, lean can lead to large losses in sales because there are no just-in-case inventory buffers.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

At St. Luke’s, Supply Chain Excellence Depends Upon Doctor Involvement

Logistics Viewpoints

As a result, hospital chains largely lacked competence in sourcing. Sometimes they’ll lean in, and have a discussion, and it usually resolves itself.” In many healthcare systems, the costs of these supplies and services were not closely examined. The costs were passed down the line to patients and insurers.

article thumbnail

Developing Agile Procurement Strategies: Thriving Amid Global Trade Disruptions

Logistics Viewpoints

Companies leaning heavily on global sourcing? manufacturer I know saw their import costs jump overnight, forcing a rethink of a decade-old sourcing strategy. Consequently, when shortages emerged, they had already secured alternative sources, thereby averting a significant disruption to production. For example, U.S.-based

article thumbnail

Walmart and the New Supply Chain Reality: AI, Automation, and Resilience

Logistics Viewpoints

Just-in-time (JIT) inventory models, lean supplier networks, and offshore manufacturing reduced expenses but left companies exposed to disruptions. The COVID-19 pandemic and ongoing geopolitical shifts demonstrated the risks of relying on single-source suppliers and minimal inventory buffers. Resilience is now taking precedence.

article thumbnail

Inflation + Source-to-Pay Strategies: The Cure for the Common Price Hike

ivalua

One way of doing this is by leveraging Source-to-Pay (S2P) solutions, which can provide procurement with the tools needed to manage their supplier relationships and identify opportunities for cost savings. S2P: Where to Start Ivalua provides a comprehensive set of integrated solutions that span the entire Source-to-Pay lifecycle.

article thumbnail

The Evolution of Operational Excellence: AI, Data Science, and Lean Practices

USC Consulting Group

However, artificial intelligence (AI) and data science now augment traditional practices, leading to innovations in Lean manufacturing. Lean manufacturing remains foundational to operational excellence. Organizations can employ AI for real-time data analysis to support Lean initiatives.