Monday, 24 November 2014

Not an Option, But a Necessity

In today's global, dynamic economy, it is beneficial for companies to operate a supply chain that is both Lean and agile. Using Lean and agile in combination is known as a hybrid supply chain strategy.

A Lean supply chain focuses on adding value for customers, while identifying and eliminating waste anything that doesn't add that value. Being agile and responsive, on the other hand, implies that your supply chain can handle unpredictability and a constant stream of new, innovative products with speed and flexibility.

An agile supply chain must be responsive to actual demand, and capable of using information as a substitute (to some degree) for inventory through collaboration and integration with key customers and suppliers.