Manufacturing and supply chain expert Lisa Anderson, President of LMA Consulting Group Inc., emphasizes the importance of establishing processes to strengthen supply chains during uncertain times. The pandemic has forced companies to stockpile inventories, but customer demands have changed, rendering many inventories obsolete or irrelevant. This has left many companies struggling because they have no idea what inventory is needed where.
Communication at all levels is crucial to optimize the supply chain and improve efficiencies, reduce costs, maintain profitability, and position for business growth. Operations, sales, finance, IT, and other departments must understand the customer and their needs so that the company can react and respond accordingly. Competitors are fierce in today’s market, and manufacturers need to be flexible and agile, have their supply chain in place, and be ready to respond.
Implementing a process like SIOP (Sales Inventory Operations Planning), also known as S&OP, establishes a protocol that requires communication between departments to focus on customer needs. This process allows for transparency, which leads to transformative strategies for growth. Ms. Anderson and co-author Diane Garcia have recently released the e-book SIOP (Sales Inventory Operations Planning): Creating Predictable Revenue and EBITDA Growth. The book can be found on the LMA Website, Amazon, and iTunes.
Ms. Anderson also provides supply chain updates through Supply Chain Chats, a series of short videos that address current topics, issues, and challenges related to supply chains.