a significant change in how procurement teams source goods , they cannot afford to make decisions that only deliver immediate or short-term value – they need to consider how their supply chains will develop moving forwards .
“ This necessitates creating a nearshoring plan which is predicated on stability and predictability , as opposed to pure cost efficiency . Procurement professionals also ought to build a supply chain environment for their business which grows and improves over time , in conjunction with the company ’ s evolving strategic aims .”
How can technology be used to aid success ? Resnick believed that : “ Technology is key to implementing a nearshoring approach . Having a standardised global Warehouse Management System gives consistent and precise inventory levels , and provides the relevant information needed for accurate forecasts and delivery capability into different markets .
“ The use of demand planning technology can also help enable better forecasting of supply requirements , matching to global trends and macroeconomic events .”
106 May 2024