Gene Tyndall, EVP at Tompkins International
The near real-time matching of supply and demand minimizes inventory, reduces lead times, and maximizes sales.
Raleigh, NC / Dallas, TX (PRWEB) April 11, 2013
A supply chain’s ability to respond rapidly to demand variability, and match it with supply, will yield lower working capital requirements and stronger sales levels, according to the recent report Improving the Consumer Electronics Supply Chain: Applying Demand-Driven Practices to Reduce Lead Times.
Published by Tompkins International and One Network Enterprises, the report explains the financial benefits of using new technologies such as cloud-based networks for demand-driven supply chains. The near real-time matching of supply and demand minimizes inventory, reduces lead times, and maximizes sales.
“The ability to reduce variable lead time enables significant decreases in inventory levels, as well as improved customer service levels, product availability (both on-shelf and online), and ready-to-ship statuses,” says Gene Tyndall, Executive Vice President at Tompkins International. “All of this boosts sales revenues.”
Gartner Research estimates that up to 40% of actual lead time in supply chains is due to system lead time (SLT). While companies have invested heavily in information technology, SLT is still a problem due to multiple system and IT platform integration issues. Tompkins and One Network recommend a single cloud-based platform that is flexible and allows each company in the supply chain to implement its own processes.
The report shares five technology pillars to consider when responding to real-time demand:
1. Any‐to‐any, multi-echelon network‐based architecture
2. Best-of-breed application functionality and a Single Version of the Truth
3. Continuous and incremental recalculation of requirements tied to execution
4. Advanced sense and respond (real-time sense with real-time automated response)
5. Scalable/flexible architecture that is easy to deploy
“When the right technologies are employed on a platform,” says Doug Kane, Industry Partner at One Network, “SLT is eliminated and inventories are significantly reduced for any manufacturing company.”
To read the full report, please click here.
About Tompkins International
Tompkins International transforms supply chains to create value for all organizations. For more than 35 years, Tompkins has provided end-to-end solutions on a global scale, helping clients align business and supply chain strategies through operations planning, design and implementation. The company delivers leading-edge business and supply chain solutions by optimizing the Mega Processes of PLAN-BUY-MAKE-MOVE-STORE-SELL. Tompkins supports clients in achieving profitable growth in all areas of global supply chain and market growth strategy, organization, operations, process improvement, technology implementation, material handling integration, and benchmarking and best practices. Headquartered in Raleigh, NC, USA, Tompkins has offices throughout North America and in Europe and Asia.
About One Network Enterprises
One Network Enterprises Inc., a high growth technology company, provides the world’s first enterprise networking platform that exploits the latest principles–mobile apps, social networking, cloud-based computing—that are revolutionizing consumer technology. Known as the Real Time Value Network, this unique and revolutionary platform is used today primarily to drive dramatic improvements in demand, supply and logistics management effectiveness and efficiency. All of the stakeholders in any trading partner community have access via this platform to timely and accurate information, and a “single version of the truth,” regarding changes in demand and supply conditions. This enables trading partners to plan, execute, monitor, synchronize and optimize in real time all of the business processes and events that take place throughout their extended supply chains. The Real Time Value Network currently serves a pre-existing community of more than 30,000 trading partners.
CONTACT:
Myra Schwartz, 919-855-5533
Tompkins International
mschwartz(at)tompkinsinc(dot)com
Nicole Farris, 972-455-3527
One Network
NFarris(at)onenetwork(dot)com
Twitter: @jimtompkins
Blog: Creating Supply Chain Excellence, http://www.tompkinsinc.com/category/blog/
Global Supply Chain Podcast: http://www.tompkinsinc.com/category/podcast/
