Supply Chain Strategies for ‘Industry 4.0’

Visibility. Agility. Efficiency. Networking. All of these attributes apply to today’s electronics supply chain. Since the memorable component-inventory glut of 2001, the electronics industry has applied both tools and processes to improve inventory management, share meaningful data, reduce costs and keep partners connected. Few experts would claim, however, that there’s no room for improvement. The cloud, big data, social networking and new operational strategies are among some of the recent solutions that are enabling further supply chain advancements.

Tom Derry, ISM

Tom Derry, ISM

“I have come to be convinced that you cannot be proficient in today’s environment if you are not using social media,” said Tom Derry, CEO of the Institute for Supply Management. Derry was one of a number of presenters at a recent forum hosted by Procurious, a social network for supply chain professionals. “People need to be able to access peer-to-peer information,” he said. “Say I’m looking for a supplier that I can count on, or someone who manages risk well or someone with a strong sustainability program. The best way to find these things is through talking to colleagues.”

 

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