Supply chain deficits, such as semiconductor and chip shortages, have had a huge impact on businesses in recent years, with the issues becoming more pronounced as many manufacturers have struggled to ramp up production after the COVID-19 pandemic.
Significant electronic component market shortages not only impact production directly, but also have a knock-on effect across the supply chain, as it forces teams into ‘fire-fighting’ mode and prevents them from focusing on projects that add long term value to the business.
For larger businesses operating across multiple sites and/or geographies, the potential solution is often at their own doorstep. However, these organisations tend to operate within complex data environments where cross business data visibility is challenging.
So what is needed to help overcome these problems?
In many cases, what’s really needed to help businesses navigate through these issues is a new and innovative way to view their supply chain.
Best-in-Class businesses are increasingly deploying supply chain analytics solutions which efficiently take feeds from local systems in order to match shortages with excess stock across the network.
Here are a few areas you may want to consider when looking at managing semiconductor shortages through implementing supply chain management software.
For large organisations in particular, there may be multiple data systems being used. Connecting and cleansing your data systems will help to improve visibility and improve collaboration across the business, putting you in the best position to rectify shortages.
Extending scope to include key contract electronic manufacturers (CEMs) and encouraging collaboration between critical suppliers significantly grows the power of the network and solves shortages further up your supply chain.
Connecting to key distributors of electronic components across the global inventory network through their application programming interfaces (APIs) enables stock to be matched against shortages in near real time.
By involving your key customers in the network they can help solve critical shortages which will ultimately impact their business.
Creating a private network of specialist partners with access to other OEM / CEM stock gives you another option to explore if you’re unable to locate stock through traditional channels.
The best system for any business is one that is designed specifically to suit their needs. Do you need help tackling shortages in your supply chain, or are you looking to transform your supply chain management?
Get in touch with our experts to learn more about how we help to implement transformation in businesses like yours.
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