Developing a Key Competitive Edge
Inventory management has always been an important task in the workings of an effective supply chain. But as we speak, new technologies and collaborative methods of working with your trading partners are set to revolutionize this practice. Those who embrace, implement, lead and master these new technologies and methods will develop a significant key competitive edge over rival firms in the marketplace.
In order to effectively manage products within the supply chain requires that the systems used for Supply Chain Management have accurate product information in them. This is accomplished through the first building block which is Electronic Catalogues. Working from this accurate base data, the second step is to directly link the movement of products throughout the supply chain utilizing a combination of RFID ( Radio Frequency IDentification ) for products and Vehicle Location / Wireless Communications technologies for transportation vehicles and trailers/containers.
Once the above catalogue and tracking infrastructure is in place and working throughout the supply chain, collaborative supply chain management using the essential process of CPFR ( Collaborative Planning Forecasting and Replenishment ) will then propel you and your trading partners to the next level of inventory management.
We have organized here articles, information and links to provide you with a quality starting point for investigating the improvement of inventory management through use of these emerging technologies and methods. A review of the related resources organized below will assist and please take a moment to voice your opinion and ask questions in the Logistics and Supply Chain Forum.