I agree with FLYINGSCOT here that benchmarking is very essential in assessing the overall performance of the supply chain and in identifying the weak areas. Besides the difficulty in obtaining data, one other issue that's usually faced is the reliability of the data. Accuracy of the data is of prime importance in order for the benchmarking activity to be successful.
I have participated din many benchmarking exercises over the years. The most fruitful ones spent a lot of time upfront developing the correct metrics and automating the data collection system. This helped overcome the hurdles of people collecting disparate data or not cooperating with data collection because of the perceived burden. Then we incentivized people to improve the metrics and benchmarking system itself. I believe benchmarking is key to running a worldclass business.
Lalit, benchmarking is an important factor in performance monitoring across industry. But for benchmarking, who is providing the guidelines are important. Like ISO or QA agencies, there should be some apex bodies to quantify the bench marking standards. In normal, most of the companies are rating products themselves with better performances because the standards are fixing internally. The same standard may vary across different companies for the same product. So there should be some apex bodies to standardize and quantify the metric values.
the most critical part of this exercise would be to actually identify the data sources. wrong slection of this could result in jargon and at the same time the interpretation skills are really important to arrive at right solutions. I'm just wondering if there is a standard software with provision for custom options can be really useful for the ems and component supplier across the world to assess the performance of their supply chain. If we add a very good intelligient interpretation algorithm to such tool can greatly reduce the human need. Any ideas on this already.
EBN Dialogue enables and encourages you to participate in live chats with notable leaders and luminaries. Not only editors and journalists, but the entire EBN community is able to comment and ask questions. Listed below are upcoming and archived chats.
Thailand Stages a Comeback Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
Microsoft Surface: Potential Winners & Losers What are the implications for the electronics industry supply chain of Microsoft Corp.'s decision to launch its own tablet PC? Join industry veteran and EE Times' systems and OEM expert Rick Merritt on Tuesday, July 3, at 12:00 pm EDT for a Live Chat on this subject.
Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
Peter Drucker famously said "Trying to predict the future is like trying to drive down a country road at night with no lights while looking out the back window." Yet in the razor's-edge world of electronics—with a lean supply chain and just-in-time demands—the need to know the future is vital.
While no one really can accurately predict the future, we can take guidance from another Drucker saying which is the best way to predict the future is to create it.
You've heard the saying "the No. 1 supply chain risk is your people." That hasn't always been the case. But today's complex global supply chain requires a new type of multitalented employee. It's one who understands, finance, marketing, economics, is savvy with technology, graceful with relationships and can think analytically.
Where are these people? Are universities properly preparing the next generation supply chain professionals? How do train your existing workforce for these new, demanding positions?
Brian Fuller, editor-in-chief of EBN, will lead a 60-minute Avnet Velocity panel discussion that will ask and answer these and other questions swirling around today's supply-chain talent challenges.