What Is the Agile Supply Chain?
An agile supply chain is essentially the application of competence, responsiveness, agility, flexibility, and speed to control how well an organization’s supply chain is operating daily. In contrast to those who work in a lean supply chain, an agile supply chain uses updated real-time data and information.
Make use of current operations and live information against forecasts of demand which can enhance the effectiveness and efficiency of the company in question.
How is agile supply chain different from lean supply chain?
The lean supply chain’s flaw is based on the reality that the data gathered from the lean supply chain isn’t used to provide a prescriptive quantitative assessment of what will be required soon. This is why the supply chain frequently has overstocking problems and is incapable of providing a perfect level of transparency.
The agile supply chain can adapt to changing conditions, including the economy, customizing and trends, customer needs, and other elements. Solve issues quickly; the supply chain can effectively navigate through the chaos that can manifest itself during manufacturing, shipping, or in the supply chain for reverse logistics.
The benefit of agile supply chain
An Agility permits supply chain partners to collaborate to create the quantity of product that is required daily and not based on quarterly or monthly forecasts. Essentially, agile solutions take the lean supply chain and improve it to respond and foster supplier-to-customer-to-manufacturer relationships.
An entity that is part of the supply chain involved in textile or fashion printing will not be able to print the actual products until a customer has purchased the materials. But, the printing process will not be able to begin until the order is established, and, consequently, the printing processes will need to be carried out near the place where the purchase will be completed. The critical point in the supply chain that is agile is about dissolving barriers to the organization and rigid structures to meet the needs at a local level.
How can ListTrader help you?
ListTrader procurement software, trade technology platform, procurement, payables, finance, collaboration, analytics, digital invoicing, digitized supply chain, invoicing, receiving payments, flywheel of value for both buyers and sellers, monitor suppliers, authorize purchases, and track inventory, find potential suppliers, compare them, and negotiate the best prices for your business.