A version of this article was initially published in Industry Week.
The Strategic Advantage of Mapping Key Products
Manufacturers often face supply chain disruptions without knowing their timing or impact. Assessing risks and implementing management practices can seem overwhelming, especially without dedicated staff or tools.
A practical solution exists: map the supply chain of a key product. Visuals like maps are more intuitive than spreadsheets, highlighting areas for improved safety stock and reduced variability.
This exercise identifies risks and opportunities and enhances organization-wide understanding, similar to how value stream mapping sheds light on internal operations. Supply chain mapping offers a roadmap for broader risk management by visualizing material sources, supplier networks, and distribution channels.
Begin by gathering data to create a comprehensive map with supplier information and performance metrics. This provides clear insights for strategic decisions, making it a valuable tool for manufacturers seeking to navigate supply chain challenges effectively.
Mapping Program: A Tool for Visual Data Analysis
Map your supply chain—a mapping program identifies vulnerabilities and risks and deepens understanding of costs and supplier interdependencies. It serves as a central data repository, facilitating easy access and updates. CIRAS offers templates and best practices for data collection.
A detailed map visualizes various aspects of your supply chain—including supplier locations, critical material sources, and potential bottlenecks—highlighting improvement areas.
You might be surprised where your Tier 2 and 3 suppliers are located. You may be more dependent on overseas shipping than you think. Or you may want to pursue other options for your most critical materials or hard-to-find parts. This will help identify potential bottlenecks and opportunities for improvements.
Opportunities and Risks Uncovered
Maximizing the benefits of supply chain mapping involves collaboration with knowledgeable partners. CIRAS can help you understand the fundamentals of mapping in the context of your greater supply chain strategy.
Mapping helps categorize parts based on vulnerability, uniqueness, or criticality, offering insights into supplier relationships and identifying opportunities for leveraging supply chain strengths.
CIRAS: Your Partner in Supply Chain Mapping
Many manufacturers seek to enhance their supply chain management but struggle to know where to start. Mapping facilitates comprehensive supplier performance and risk management, suggesting strategies for engaging with key partners. CIRAS provides a structured approach to mapping your supply chains.
For more information, contact Marc Schneider at maschn@iastate.edu or 563-221-1596.