With the pandemic disrupting global supply chains, should decades of just-in-time and Lean manufacturing practice be thrown out the window?
Cost-cutting has ruled supply-chain management strategies for years. Exhibit A is the slashing of inventories feeding manufacturing lines. Then there’s the gospel of Lean, which seeks to eliminate waste from every aspect of production, storage and distribution. Now, though, with so many companies suffering from interrupted (if not dismantled) supply chains, one might ask whether it’s time to disrupt conventional wisdom. On this episode, we discuss the consequences of J.I.T. and Lean with Roy Anderson, chief procurement officer with Tradeshift, provider of a B2B network and supply-chain payments platform. What’s needed today, perhaps, are multiple strategies that can respond to a variety of situations. We also talk about why buyers should be treating their suppliers as “innovation engines,” not sources of short-term savings by stretching out payment terms. Hosted by Bob Bowman, Editor-in-Chief of SupplyChainBrain.
A blog post from Tradeshift about rethinking global supply chains.