What are the best practices in supply chain management?

What are the best practices in supply chain management?

Best practices in supply chain management include demand forecasting, inventory optimization, and supplier collaboration.

Can you explain why demand forecasting is important?

Demand forecasting helps businesses predict customer demand, allowing for better inventory management and reduced costs.

What role does technology play in supply chain management?

Technology enhances visibility, improves communication, and automates processes, leading to more efficient supply chains.

How can companies improve supplier collaboration?

Companies can improve supplier collaboration by establishing clear communication channels, sharing data, and building trust.