8 types of waste in supply chain management

-


Waste Management in Supply Chain

Downtime

1) Defects 

2) Over production

3) Waiting 

4) Non utilized talent 

5) Transportation

6) Inventory 

7) Motion 

8) Extra processing 





















Comments

Post a Comment

Popular posts from this blog

Procurement Process

-
Image
Procurement  is the process of finding and acquiring all of the goods, services, and works an organization needs to operate and fulfill its business model. Simply described, the procurement process begins with identifying a need, finding a reliable supplier for it, paying for the supplier’s goods or services, and finally accounting for it. During the procurement process, procurement managers need to liaise with suppliers, negotiate terms and contracts, inspect received orders as necessary and keep records of all stages of the procurement process for auditing purposes. Procurement’s end goal is to reduce over all costs by finding the best possible prices and ensuring that companies get what they need on time.  Although unique to each company, the procurement process usually has three essential components: process, people, and paperwork. 
Read more

PROCUREMENT OUTSOURCING AND INSOURCING

-
Image
  Outsourcing refers to the practice of contracting out certain procurement activities or functions to external suppliers or service providers. Outsourcing can be applied to various procurement activities such as sourcing, supplier management, logistics, and even strategic decision making. Pros of outsourcing include: 1. Cost savings: Outsourcing can often lead to cost savings as external providers may have economies of scale and specialized expertise that can result in reduced costs. 2. Access to expertise: By outsourcing certain procurement activities, organizations can tap into the knowledge and skills of external providers who specialize in those areas. 3. Increased flexibility: Outsourcing allows organizations to adapt and scale their procurement operations based on changing business needs. 4. Risk mitigation: Outsourcing can help mitigate certain risks by transferring them to external providers who are better equipped to manage them effectively. However, there are also potent...
Read more

VENDOR SELECTION CRITERIA IN PROCUREMENT

-
Image
  The set of standards and requirements that organizations use to evaluate and choose suppliers or vendors for their procurement needs. These criteria can vary depending on the specific needs and goals of the organization, but some common vendor selection criteria include: 1. Price and Cost: Organizations often consider the pricing and cost structure of vendors to ensure that they can provide products or services at a competitive and reasonable price. This may involve comparing quotes and conducting cost analyses to select vendors that offer the best value for money. 2. Quality and Reliability: Organizations look for vendors that have a proven track record of delivering high-quality products or services. They may consider factors such as the vendor's reputation, certifications, past performance, and product/service reviews. 3. Experience and Expertise: Organizations may prioritize vendors who have extensive experience and expertise in the specific industry or field relevant to thei...
Read more