What is Traceability for Electronic Manufacturers (and Why it Matters)? - Bar Code India

Compared to the yesteryears, today’s supply chains are far more complex. As this complexity continues to increase, so do the risks associated with it. Regardless of their size of production volumes, all electronics manufacturers rely on traceability to combat these risks.

What is traceability?

Traceability in electronics manufacturing refers to the ability to trace the history, location, and movement of a product or component through the production process. This can include tracking the materials used to make the product, the manufacturing processes it went through, and the various stages of testing and inspection that it underwent.

A traceability solution equips manufacturers with detailed information about the complete production process, answering questions like

Who handled a material/product/process?
When was the process conducted?
What operations and processes were carried out?
How did the process transpire?
What were the materials used?
Where did these materials come from?

Why does traceability matter?

Traceability is important for electronics manufacturers for a number of reasons. One reason is that it helps to ensure the quality and reliability of the products they produce. By being able to trace the history of a product or component, manufacturers can identify any issues that may have occurred during the production process and take corrective action to prevent similar problems from occurring in the future.Read more...

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How Does Supply Chain Digitization Leads to Customer Satisfaction? - Bar Code India

Did you know that a 2020 Gartner study found that more than 50% of companies are yet to build a roadmap for supply chain digital transformation?

The advent of new technologies, such as IoT, blockchain, artificial intelligence (AI), and machine learning (ML), have unlocked tremendous potential for supply chains digitization worldwide.

There are numerous far-reaching benefits of digitization. Since more than half of the companies are yet to embark on their digital journey, one of the most significant advantages of fast movers is achieving competitive advantage through improved efficiency, agility, and customer focus.

This blog will dive deep into what supply chain digitization entails and how it can lead to a happier customer base.

What is Supply Chain Digitization?

Supply Chain Digitization refers to using technology to automate, digitize and integrate manual/analog components and processes to improve efficiency, increase visibility and ease manageability.

It helps in transforming traditional setups with data silos into completely integrated ecosystems that are transparent to all key stakeholders. Read more....

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How Real-time Data Translates to Better Supply Chain Management Decisions - Bar Code India

The advent of technologies such as AI and IoT has revolutionized managing supply chains. These advancements have enabled companies to stay up-to-date regarding all events in their supply chains by collecting real-time data.

What is real-time data?

Data accessible immediately after it generates and stores itself classifies as real-time data. Therefore, it is the core of real-time decision-making.

Today, amassing large volumes of real-time data and extracting insights has become more accessible, making it extremely valuable for businesses.

To understand how real-time data can translate to faster and smarter business decisions, we must know how it is processed and analyzed and the typical insights it can provide.

How is real-time data processed, and why does it matter?

In the past, data engineers and scientists collected and analyzed all data. Today, vast volumes of data can be processed and analyzed in seconds, thanks to artificial intelligence (AI) and machine learning (ML) algorithms.

Once data is collected, all corrupt or unnecessary components are filtered out, and then the ‘clean’ data is passed on to the AI and ML algorithms to be processed. Finally, the processed information returns to the end user in a readable form, such as documents or data visualizations. Businesses or end-users can also store this information for posterity.

This entire cycle only takes a few milliseconds or seconds, and business leaders receive the reports in ‘real-time.’ Moreover, the information received is always current, which ensures that key decision-makers can act on the data in the minimum amount of time. Read more....

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3 Supply Chain Trends to Watch Out For in 2023 - Bar Code India

 

The recent years have been tough for businesses across the world. India’s supply chains have also faced the brunt of disruptions due to COVID-19 and the recent geopolitical Russia-Ukraine crisis. Various aspects of a supply chain, such as sourcing, logistics, production, and distribution have been adversely impacted.

The pandemic has forced businesses to look for new strategies to adapt to the new reality and has brought about a wave of new tactics to combat the testing market scenario.

During a recent Commerce Ministry webinar, Indian Prime Minister Narendra Modi expressed concern regarding the impact of the disruptions to supply chains on the global economy.

According to a survey by Oracle, several Indians have been unable to purchase a number of items due to shortages (45 percent), forced to cancel orders due to delays (53 percent), and even rationing essential items out of fear of running out (41 percent). 

There is good news on the horizon, though. The latest GDP numbers for Q1 FY2022–23 suggest that economic growth is healthy. Consumers, after a long period of apprehension, have started to spend confidently, with spending going up 25.9% in Q1. Read more....

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Using Business Intelligence and Analytics to Combat Supply Chain Disruptions - Bar Code India

 

Over the past couple of years, the world has witnessed events that have disrupted several supply chains across the globe. The pandemic and current geopolitical turbulence have dealt a heavy blow to the global economy. While these are major events that have a global impact, however, most supply chain disruptions often stem from seemingly innocuous causes.

Anticipating and navigating disruptions is essential to the success of every business. Enhancing predictive capabilities is a must for creating or maintaining a strong supply chain, it can give business owners the required time to create a strategy that can help them sail through unfavorable situations.

Broadly, there are 3 major components to mitigating supply chain disruption: visibility, agility, and resilience.

Visibility across your supply chain can help you anticipate potential future disruptions as well as equip you with the data to build an effective response to such disruptions

Agility is the ability to gauge and act quickly against disruptions, to minimize the overall impact

Resilience is the ability to resist, absorb and recover from disruptions

The most efficient tools to preempt and stay afloat during a disruption are Business Intelligence and Analytics (BI & A). Read more....

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3 Ways to Optimize E-commerce Supply Chain with Zebra Hardware - Bar Code India

 

E-commerce was born as a mere straightforward online channel for sales and purchases. However, customer expectations for E-commerce have significantly changed the E-commerce fulfilment and competitive landscape over the last few years.

The internet has interconnected billions of buyers and millions of sellers in a web of commerce. Online platforms today are crowded with sellers, and the competition is fierce. The movement of goods must be accurate and timely while also ensuring that the quality and condition of these goods are not compromised. The current scale of E-commerce transactions has made the supply chain more complex and an effective supply chain management system a necessity rather than a luxury to achieve performance excellence in all aspects of the order fulfilment journey.

Optimizing E-commerce Supply Chain Strategies

Here are a few simple tips for optimizing your E-commerce supply chain.

1. Real-Time Inventory Visibility

Real-Time visibility has never been more critical given the industry’s record-breaking pace of inventory arrivals and departures. Businesses need to know what inventory they have on hand and at what stage of the supply chain it is lying at. Read more.....

Source Link:- https://www.barcodeindia.com/blog/3-ways-to-optimize-e-commerce-supply-chain-with-zebra-hardware/

Ways Retailers Can Improve Inventory Management - Bar Code India

 

Good inventory management is key to the success of any retail business. Optimizing inventory levels according to demands, holiday seasons and downtimes requires an efficient strategy.

The balance between stocking just enough product to meet customer demands and overstocking is tricky, yet crucial in today’s scenario.

The retail industry has come a long way in the past few decades. Thanks to the hyper leaps in technology, today there are a bunch of excellent inventory management tools available in the market.

In this article, let us go over some tools which smart retailers are leveraging today to effectively manage their inventory.

1. Inventory Management Software
Retailers can benefit from investing in and implementing an efficient inventory management software to keep track of their inventory levels. The inventory management software can provide real-time updates about the inventory level, thereby, empowering business owners to make quick and informed decisions for replenishment and ensuring that consumer demands are met at all times. Read more...

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