Supply Chain management is the biggest challenge that any manufacturing organization faces. Managing the supply chain well requires ensuring that the costs (procurement, logistics, warehousing) and efficiency of each element balances perfectly.
The four keystones of any supply chain solution are:
1. VISIBILITY of component status – including current production process, location and delivery cycle – at all given times.
2. CONTROL of logistics, usage and management of component life cycle.
3. COMPL IANCES including asset audits and asset condition audits – for statutory requirements like Sarbanes Oxley Guidelines.
4. MANUFACTURING EFFICIENCIES to focus on enabling Just-In-Time, Kanban or other efficiency enhancement processes.
Implementing Radio Frequency Identification (RFID) enabled track and trace solutions for managing assets, components or even spares can help an organization achieve efficiency on all 4 keystones of supply chain Management.
Radio Frequency Identification (RFID) is a technology that allows items to be tagged once and read many times, including the ability to read when not in ‘line-of-sight’. In a supply chain, RFID based solutions can improve efficiencies and reduce losses considerably.