Supplier Managed Inventory (SMI also known as VMI) is a supply chain initiative where the supplier takes responsibility for managing inventory levels and replenishment for their customers. Replenishment-based VMI focuses specifically on ensuring that...

Why Outsourcing Manufacturing ProcessOutsourcing manufacturing processes offers several benefits that can enhance a company's operational efficiency, cost-effectiveness, and overall competitiveness.1. Cost Savings:Lower Labour Costs: Outsourcing to c...

The cost of quality refers to the total expense incurred to ensure that a product or service meets customer requirements. It includes both the costs of preventing defects and the costs of dealing with defects that occur. Here are the main components:...

What is MRP – Exception Change Order Request processes In SAP S/4HANA, a Material Requirements Planning (MRP) Exception Change Order Request is a mechanism used to handle deviations or exceptions in the MRP process. When there are discrepancies betwe...

The significance of sustainability in the Procurement and supply chains are: $23T reduced annual global economic output worldwide because of climate change. 35% revenue losses due to climate-related disruptions to specialty supply chains, well-p...