Supply Chain Management (SCM) is a critical aspect of any small or large business. SCM is the active management of supply chain activities to maximize customer value and generate a sustainable competitive advantage. SCM also includes the movement and storage of raw materials, as well as inventory management and the tracking of finished goods from point of origin to point of destination. Whether you love your supply chain or not depends on the operation and the effectiveness of your SCM.
Electronic component kitting is a manufacturing process that refers to the physical act of assembling a production-ready kit of parts and components for delivery to a point of assembly in order to manufacture an electronic device. The use of electronic component kitting allows the assembly line to operate faster and more efficiently. Having kits on hand is a low-cost solution that will reduce the production of the many complexities of production. It can assist you in saving time, organizing your workspace, and freeing up production space.
We sat down with David Schultz, NewStream's business development manager, recently to discuss the process for onboarding new customers, their concerns, NewStream's value adds, and how we help original equipment manufacturers (OEMs) love their supply chain.
With the advancement of digital technologies that enable real-time management of supply chains, coordinating global supply lines across a wide range of industries—from food and beverage to pharmaceuticals and healthcare—is now possible. This is especially helpful because, as we’ve learned with COVID-19, supply chain ecosystems can be impacted by catastrophic events such as trade issues, natural disasters, pandemics and others. To maintain supply chain effectiveness and serve customer needs, procurement and compliance strategies must include better planning, decision-making and execution.
The COVID-19 pandemic is not only a health crisis; it has become an economic crisis as well. Entire supply chains have been disrupted and the logistics industry has been put under the microscope as communities have experienced empty shelves and long waits for medical supplies and essentials such as food, cleaning supplies and toilet paper.
