Coronavirus and the Supply Chain Challenge
From developing domestic value-chain relationship to companies and customers collaborating together, here are a few MoldMaking Technology articles that can help you implement new strategies for your supply chains if they have been affected by coronavirus.
There’s no doubt about it: the coronavirus creates a difficult challenge in supply chain management, and not just for the moldmaking industry. So how do you handle if links in your supply chain have been weakened due to COVID-19?
You’ve hopefully already seen that MoldMaking Technology wants to help address mold builders’ immediate sourcing needs through our new Sourcing Assistance Program. But did you know we also have content that addresses implementing supply chain strategies in tough times?
From identifying bottlenecks, being available and quick to respond to orders, developing domestic value-chain relationship, and to companies and customers collaborating together, there’s a wealth of information in the articles below that just might help your business connect weak spots in your supply chain. Check them out and see what you can do to address this challenge.
There is a complete spectrum of possibilities and combinations in delivering or acquiring a set of tools for a new product roll-out. Sticking to domestic or in-house resources and capabilities will not be the answer in the future for every design and tool. On the other hand, turning over all designs and tools to a low-cost global provider, such as China or Eastern Europe, is not the answer.
How can your tooling project take advantage of the best combination of resources and capabilities — regardless of location — in the future? Your customers will be reading the quotes and marketing hype with which we opened this article. They are aware of the growing competency overseas. They may be tempted to turn over their new product tooling in total to an overseas source. So how should you structure your programs to take advantage of the most optimal set of resources and capabilities?
To fully understand the true cost of this domestic value-chain relationship, OEMs must consider the differences between the price of a product and the cost of manufacturing it, outsourcing and in-house production, and working with a supplier and a true development partner. ISO helps determine this true cost by calculating total cost of ownership (TCO), a financial estimate intended to help buyers and owners determine both the direct and indirect costs of a product or system.
When this news release about The Plastek Group came across my desk detailing how the team stepped up to mold and donate face shields, I was not surprised. I’ve known this company and the generosity of its founder and family since launching MoldMaking Technology in 1998.
In an effort to share solutions and strategies (and so you don’t feel alone), I wanted to share some conversations I’ve been having with mold builders as they continue their manufacturing amidst challenges brought about by the virus. Here is one Q&A with R & D Leverage.
Mold manufacturers who have been critiqued for slow lead times, as compared to the overseas competition, are proving to themselves and customers during COVID-19 that North American mold manufacturers and suppliers can unite and do things at an extraordinary speed.