Bringing you insight from our partner, Slimstock, we want to share how to address volatile lead times in your supply chain:
1️⃣ Analyze lead times: Identify disparities in your inventory levels and lead times to uncover opportunities for inventory reduction and optimization.
2️⃣ Negotiate with suppliers: Work closely with your suppliers to reduce lead times and improve reliability. Consider sharing forecasts and incentivizing on-time deliveries.
3️⃣ Diversify sourcing: Explore alternative suppliers to reduce transit time or increase reliability, ensuring a more stable supply chain.
4️⃣ Optimize safety stock: Regularly review your safety stock strategy to protect against delays and unexpected demand spikes without over-investing in inventory.
5️⃣ Improve communication: Foster better internal and external communication for greater transparency and quicker resolution of lead time issues.
Discover more about how Slimstock’s Slim4 can help your business navigate volatile lead times and achieve supply chain efficiency. 💡 Get in touch with us today https://lnkd.in/g6gzcdcf
👉 Read the full article from Slimstock here: https://lnkd.in/emcFjKSX