Put simply, vertical integration is a strategic structure which means that a company owns the supply chain for its products or services. Fundamentally, this is considered to be important as it implies a certain and robust degree of control over operations.
A look at manufacturing and the COVID-19 pandemic shows the comparison to WWII is an apt one. From victory gardens to discussions of shared sacrifice to ramping up production of critical supplies, the parallels between the health crisis and WWII are hard to ignore.
For example, in many organizations, different business units buy similar products from multiple suppliers instead of buying everything from one supplier and benefiting from economies of scale. Procurement can see that, but the rest of the organization can't.
Within the realm of manufacturing, one thing is abundantly clear: supply chains are intrinsically tied and vulnerable to just about everything in our world today.
Companies will need to quickly find ways to sustain their business, mitigate all supply chain risks, and be more flexible to the new environment. These requirements will drive a need for greater visibility and control over operations.
Now, with concerns over China's handling of the virus, rising labor costs across the developing world and apprehension about geographically concentrated supply chains, companies are placing bets on the next hotspot for affordable manufacturing services.
Whether it is because they are switching production from clothing to personal protective equipment (PPE) or because their regular suppliers are suddenly unavailable, many procurement teams are now searching for new suppliers under significant time pressure.
The COVID-19 outbreak has highlighted the vulnerability of the complex global manufacturing supply chains. To make matters worse, the CNC industry heavily relies on on-time deliveries.
When attached to shipment containers, the IoT affords manufacturers insight into what's happening at each point of the supply chain, thereby assuring their products reach their destinations in a safe and timely manner.
If you're in manufacturing, or if you oversee any part of a consumer goods or e-commerce supply chain, you know how many moving pieces there are in fulfillment.
Supply chain risk management has been a top-of-mind business issue in executive board rooms for quite some time, but occasionally, a major disruptor brings this issue to the forefront once again.
MODEX 2020 takes place in Atlanta, GA March 9th - 12th. This ManufacturingTomorrow.com Special Tradeshow report aims to bring you news, articles and products from this years events.
Event to feature 950 exhibits, 150 education sessions and keynotes from Ambassador Nikki Haley, Tan Le, Peyton and Archie Manning.
As an industrial manufacturing engineer writing and speaking about the supply chain for many years, as well as being in the field helping companies for most all of my career, I wanted to pass on some thoughts and information for those of you that are considering this type of deployment option - especially if your mission-critical business depends upon a working cloud.
The devices are tailored for logistics asset tracking and designed using years of experience to offer full transparency on the cargo journey through real-time data and context awareness.
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Nothing beats the positioning accuracy of linear encoders from HEIDENHAIN. Available in absolute and incremental versions and ideal for a variety of applications-including machine tools, semiconductor machines and medical machines-these measuring solutions combat a variety of issues that erode precision.