How does SDC do procurement?
October 26, 2017
In today's competitive industrial environment it is not enough to merely meet a client's expectations, a supplier must endeavor to exceed those expectations. In order to effectively do this, the effective management of a component's availability is an integral, a vital part of the component's life cycle management. In order to properly support these tasks a means must be in place to fulfill the client’s needs and expectations.
This is where a method, a framework for not only the comprehensive, but also the efficient management of the components comes into being. A discerning component management strategy means formulating a disciplined approach to ensure that a component is procurable when it is needed. The effective management of inventory is the way of not only monitoring the flow of the components, but also dispersing the components either into inventory or to the client as ordered. For a supplier to meet the expectations of the client and grow one's clientete base, and in order to stay competitive, a comprehensive and efficient means of managing the component acquisition process is necessary.
This is inventory management, and the effective management of inventory enables a supplier to exceed their client’s expectations for any given component available for the total number ordered that will not merely maximize cost control, but also minimize deliver time. And, in order to do this properly the development of accurate forecasts for future component demands, through close consultation with the client, and in concurrent with a thorough, intelligent methodology for discerning decisions on inventory must be in place.
Whether it is the determining of the most economic purchase quantities, the determining of the best source for, and quality of the component, and how much if any reserve safety inventory is necessary to meet possible projected demands; all relevant, pertinent data concerning the component must be presented to the client, in order to clarify these matters. These are the integral, the vital aspects of Standard Dynamic's approach to the elements of not only a comprehensive but also an efficient means of inventory management, and our commitment to serve our clientele.
A comprehensive, and efficient inventory management framework enables the supplier to not merely meet, but to exceed the client's expectation for a given product or component.