What are the main challenges in supply chain optimization?

What are the main challenges in supply chain optimization?

The main challenges include demand forecasting, inventory management, and supplier relationships.

How does demand forecasting impact supply chain efficiency?

Accurate demand forecasting helps in reducing excess inventory and stockouts, leading to better efficiency.

What strategies can be used to improve inventory management?

Strategies include just-in-time inventory, safety stock analysis, and using inventory management software.

Can technology help overcome these challenges?

Yes, technologies like AI, machine learning, and IoT can enhance visibility and decision-making in supply chains.

What role do suppliers play in supply chain optimization?

Suppliers are crucial as they affect lead times, costs, and the overall reliability of the supply chain.