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Your supply chain budget just got cut, what goes first?
If you had to cut your supply chain budget, what is the first thing you would alter? How would you compensate?
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1 Answer
It depends on whether you've got time to get smart, or you've got to knee-jerk to satisfy a real, but mindless imperative.
If you've got time, you can enlist your supply base for creative cost (not necessarily price) reductions. You can also work with carriers and 3PLs for improvements on the other end of the chain, looking at mode alternatives in transportation, for example. If customers can tolerate slightly slower, but reliable, shipments there might be cost reductions in that corner. Hard looks at inventory levels, safety stocks, redundancies, and the like might help to defer purchases and lower carrying costs.
if slash and burn is the only option, get your resume up to date and in circulation - you're on a runaway train.
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