Elemica highlights three keys to empower supply chain execs
Big Data, Analytics and Social Collaboration are the ‘three keys’ to creating a high performance supply chain, according to supply chain integration specialists Elemica.
Utilising these three capabilities provides companies with a real competitive edge, according to a statement released by the company, which highlights the best conditions companies should adopt to allow supply chain executives to make informed decisions to drive positive change in their businesses.
According to Elemica, it is essential to create a collaborative environment of intelligent, cross-enterprise decision-making, and a pervasive data-driven culture to offer the best decision making environment for supply chain execs.
“In the supply chain world, Big Data really means capturing and analysing every piece of information from raw material procurement through manufacturing, through the distribution channels to the end customer,” said John Blyzinskyj, CEO of Elemica. “This wealth of data feeds analytics to create a comprehensive, interconnected picture of business performance and fosters collaboration leading to high operational efficiency. This allows our customers to significantly reduce their working capital.”
Analysing the data gathered from your trading partners’ supply chains dramatically improves the ability to respond faster and more efficiently to shifts in their demand, according to Elemica. Analytics also provides business specific insights in identifying and mitigating issues. It not only provides a means to act in the present based on the past but also provides a future outlook, improving forecasts, trimming inventory, reducing stock-outs, and optimizing logistics costs.
Drilling down into collected data from social networks gives businesses the ability to:
· Connect with business colleagues and external contacts
· Create peer or special interest groups
· Write and post a review of a supplier, customer or business partner
· Rate or “Like” a supplier, customer, or business partner
· Share documents and collaborate
· Create discussion forums of business related questions and topics
· Search for new suppliers using various filters
· Search for new customers using various filters
Elemica provides a supply chain operating network that automates processes across procurement, order fulfillment, and logistics, capturing data along the way, and analyzing trends and information across product, demand, and supply networks. Today, the Elemica QuickLink Network handles over 500,000 documents daily in real-time; reliably and securely.
Elon Musk's Boring Co. planning wider tunnels for freight
Elon Musk’s drilling outfit The Boring Company could be shifting its focus towards subterranean freight and logistics solutions, according to reports.
A Boring Co. pitch deck seen and shared by Bloomberg depicts plans to construct wider tunnels designed to accommodate shipping containers.
Founded by Tesla CEO Musk in 2016, the company initially stated its mission was to offer safer, faster point-to-point transport for people, particularly in cities plagued by traffic congestion. It also planned longer tunnels to ferry passengers between popular destinations across the US.
The Boring Co. completed its first commercial project earlier this year in April. The 1.7m tunnel system is designed to move professionals between convention centres in Las Vegas using Tesla EVs. It says the Las Vegas Convention Centre Loop can cut travel time between venues from 45 minutes to just two.
Boring Co.'s new freight tunnels
The Boring Co.'s new tunnel designs would allow freight to be transported on purpose built platforms, labelled as “battery-powered freight carriers”. The document shows that, though the containers could technically fit within its current 12-foot tunnels, wider tunnels would be more efficient. Designs for a new tunnel, 21 feet in diameter, show that they can comfortably accommodate two containers side-by-side, with a one-foot gap between them.
The Boring Co.’s new drilling machine, dubbed Prufrock, can tunnel at a rate of one mile per week, which is six times faster than its previous machine, and is designed to ‘porpoise’ - mimicking the marine animal by ‘diving’ below ground and reemerging once the tunnel is complete.
Tesla’s supply chain woes
Tesla is facing its own supply chain and logistic issues. The EV manufacturer has raised the price of its vehicles, with CEO Musk confirming the incremental hike was a result of “major supply chain pressure”. Musk replied to a disgruntled Twitter user, confused as to why prices were rising while features were being removed from the cars, saying the “raw materials especially” were a big issue.
Car manufacturing continues to be one of the industries hit hardest by a global shortage in semiconductor chips. While China’s chip manufacturing levels hit an all-time high in May, and the US is proposing a 25% tax credit for chip manufacturers, demand still outstrips supply. Automakers including Volkswagen and Audi have again said they expect reduced vehicle output in the next quarter due to a lack of semiconductors, with more factory downtime likely.
Top Image credit: The Boring Company / @boringcompany