Some people use the acronym SME to represent Small-to-Medium (sized) Enterprises. For others, SME refers to the Society of Manufacturing Engineers. But SME also stands for Subject Matter Expert.
Two of the largest and most successful companies in the world achieved and maintain their success by mastering the supply chain. Wal-Mart took logistics to new heights, bringing big city, low prices and convenience to rural areas. Apple dominates its chosen markets through innovation but also benefits greatly from a single-minded focus on operational excellence.
The Fresh Connection simulation tool provides the foundation for a new level of supply chain training. Participants gain hands-on experience and insight into interactions between inventory policies, production schedules, supplier relationships, customer service commitments, logistical challenges and more!
Companies that don’t do a detailed forecast are greatly limiting their ability to marshal their resources to meet customer demand effectively. They will likely be caught with too little or too much inventory at some point, the need for expediting or overtime, and some disappointed customers and lost sales.
We all know what ERP is … the major information management system for manufacturers (and others) that integrates all of the major functions of the business. There is still some confusion, however, about just how some of the other approaches – Lean Manufacturing, Theory of Constraints, DDMRP, etc. – fit in and whether they replace ERP or are complementary.