Vikas shirsath on LinkedIn: #supplychainmanagement #inventorymanagement #ai #bigdata #logistics… (2024)

7 Ways to Optimize Your End-to-End Supply ChainMaximizing supply chain efficiency and profitability is crucial in today’s fast-paced market. Here are seven practical strategies to enhance your end-to-end supply chain operations:1. Know Your Tier 2 Suppliers: Your supply chain starts with your suppliers’ suppliers. By understanding their products, costs, and lead times, you can negotiate better deals and ensure a steady flow of raw materials and components.2. Renegotiate Supplier Costs: Even if you have existing agreements, it’s beneficial to renegotiate supplier costs regularly. Suppliers often find ways to reduce their expenses, which can be passed on to you through lower prices.3. Share Demand Information: Open communication with your suppliers about demand forecasts helps prevent overstocking or shortages. This ensures you get the right amount of supplies when you need them, reducing waste and cost.4. Customer Demand Planning: Accurate demand planning involves more than customer forecasts. Use market analysis, historical data, and understanding of seasonality to predict needs better and reduce excess inventory.5. Examine Inventory Records: Relying solely on warehouse management systems isn’t enough. Regular physical inventory checks are necessary to maintain accuracy and avoid unnecessary stock purchases or delays in shipments.6. Risk Management: Be prepared for disruptions with comprehensive risk management plans. Develop contingency plans for various scenarios like extreme weather or supply chain interruptions to keep operations running smoothly.7. Optimize Logistics: Evaluate and automate logistics processes where possible. Automating loading and unloading trucks, for instance, can reduce delays, minimize accidents, save labor costs, and improve overall efficiency.Implementing these strategies can lead to significant cost savings and a more resilient, efficient supply chain. Keep these points in mind to continually optimize your operations and stay ahead in the market.#SupplyChainOptimization #LogisticsEfficiency #InventoryManagement #RiskManagement #SupplierNegotiation #DemandPlanning #Automation

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🚚 👩🚒 UNDERSTANDING THE PHARMACEUTICAL SUPPLY CHAIN 💊In today's health-conscious world, the pharmaceutical supply chain is crucial for delivering life-saving medications to patients. But what exactly does this complex process involve? I have explained it in short. Key Players1. Raw Material Suppliers: They provide the essential ingredients needed to produce medications.2. Pharmaceutical Manufacturers: These companies are responsible for creating the finished drugs.3. Wholesale Distributors: They buy drugs from manufacturers and distribute them to various pharmacies.4. Pharmacy Benefit Managers (PBMs): PBMs negotiate drug prices with manufacturers and manage prescription drug benefits with insurers.5. Pharmacies: The final link in the chain, where patients receive their prescribed medications.The Process:1. Manufacturing: Drugs are created at production facilities.2. Distribution: Wholesalers transport drugs to various types of pharmacies.3. Pricing and Management: PBMs work to negotiate prices and ensure the drugs meet quality and utilization standards.4. Dispensing: Pharmacies provide the medications to patients, ensuring they have the information needed for safe and effective use.ChallengesSupply Chain Visibility: Tracking drugs through each stage to ensure transparency and safety.Drug Counterfeiting: Preventing the circulation of fake medications.Cold-Chain Shipping: Ensuring certain drugs are kept at the correct temperatures during transport.Rising Prescription Drug Prices: Managing the increasing costs of medications to reduce the financial burden on patients.InnovationsDigitization: Leveraging technology to streamline processes, enhance efficiency, reduce costs, and manage risks more effectively.Top Challenges Identified by Experts:1. Coordination issues among stakeholders.2. Effective inventory management to avoid shortages or overstock.3. Inadequate demand information leading to inefficiencies.4. Reliance on human resources and order management.5. Ensuring drugs do not expire before reaching patients.6. Maintaining proper warehouse management.7. Temperature control for sensitive medications.8. Shipment visibility to track the movement of drugs.Efficient coordination among all these stakeholders ensures that patients receive safe and effective medications without disruptions. By understanding and improving each step, we can make the pharmaceutical supply chain more robust and reliable for everyone. 🌟#PharmaSupplyChain #Healthcare #Pharmacy #Medication #HealthTech #SupplyChainManagement #PatientCare #Pharmaceuticals #Innovation #DrugSafety

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"CVS vs. Walgreens: Strategic Supply Chain Battles for Market Dominance"Walgreens is challenging CVS by making exclusive deals with pharmaceutical benefit managers (PBMs), who act as middlemen between drug manufacturers and retailers. This strategy has proven successful for Walgreens, as CVS announced it is set to lose 40 million prescriptions next year due to Walgreens' agreements with Prime Therapeutics and Tricare.CVS Health, which owns its own PBM, has built a significant healthcare presence. By integrating its supply chain after acquiring Caremark, the nation’s leading PBM, CVS has been able to cut costs and offer lower prices to customers. For instance, CVS’s PBM sales contributed significantly to its revenue, outperforming its retail segment by 20%.Despite these advantages, Walgreens is leveraging CVS’s vertically integrated supply chain by spreading its own network horizontally. By signing exclusionary partnerships with PBMs that compete with CVS, Walgreens ensures that customers covered by these PBMs prefer its stores over CVS. Additionally, Walgreens' $9.4 billion acquisition of Rite Aid enhances its mail-in prescription services, posing a direct competition to CVS.While CVS’s vertical supply chain model has helped it become a healthcare giant, it has also made the company dependent on a single supplier. This approach may not always provide the best prices or inventory options. In contrast, Walgreens' strategy of partnering with multiple PBMs and expanding its services demonstrates how diversifying supply chains can be more advantageous, especially for maintaining a variety of prescription stock and meeting customer needs effectively.

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I'm thrilled to share that I've successfully completed the Capstone: Applying Project Management in the Real World specialization offered through Coursera by Google, achieving a grade of 97.30%. 💯 This comprehensive course has equipped me with invaluable skills in project management, essential for navigating real-world challenges in today's dynamic business environment. 🌐Throughout the specialization, I've delved into crucial topics such as analyzing project requirements, evaluating stakeholders, problem-solving, and drafting project charters. 📊 The course provided me with practical tools and frameworks to effectively manage project scope, goals, and stakeholder expectations. 💡One of the highlights of the course was the hands-on project charter activity, where I had the opportunity to apply theoretical concepts to a real-world scenario. 🛠️ Additionally, the peer-graded assignments allowed me to receive constructive feedback and further refine my project management skills. 🔄I'm confident that the knowledge and expertise gained from this specialization will not only enhance my academic journey but also empower me to excel in my future professional endeavors. 🚀 Grateful for the opportunity to learn from industry experts and excited to apply these skills to drive successful projects and initiatives. 💼#ProjectManagement #Google #Coursera #Specialization #ProfessionalDevelopment #SkillsAcquired #AchievementUnlocked 🎉

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🚀 Hey LinkedIn fam! Let's talk about Clayton M. Christensen's game-changing ideas on how businesses can stay on top of their game in a fast-changing world!💡 Here's the lowdown:Spot the Danger: Christensen warns us about the sneaky threat of disruptive innovation. It's when big companies get so good at what they do that they forget about the little guys. Spoiler: those little guys might just end up taking over the market! Get Creative with Structures: Want to avoid getting left behind? Christensen shows us how to shake up our organizational structures to encourage innovation.Listen to Your Customers: Forget fancy gadgets - focus on what your customers need. Christensen's all about solving real problems, not just making cool stuff. Money Matters: Sometimes, our financial systems hold us back from innovating. Christensen helps us figure out how to break free from those chains. New Business, New Model: To really shake things up, you might need to rethink your whole business model. Christensen shows us how it's done. Merge with Caution: Mergers and acquisitions can be make-or-break moments. Christensen gives us the lowdown on how to make them work. Stay Ahead of the Curve: Want to know where the money's gonna be? Christensen's got the scoop on predicting industry trends.🌟 Oh, and don't forget about his personal advice in "How Will You Measure Your Life?" it's like a pep talk for finding balance in work and life.💼 So, whether you're a bigwig CEO or a fresh-faced start-up founder, Christensen's got nuggets of wisdom that'll keep you ahead of the game. Let's embrace the change and keep those businesses booming!#DisruptiveInnovation #BusinessTips #GameChanger #ClaytonChristensen

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Forward integration, the strategic move "upstream" in the supply chain, presents an intriguing avenue for companies to assert control, enhance profitability, and streamline operations. Advantages:1. Price Setting Power: Transition from price taker to price maker, maximizing margins.2. Competitive Edge: Leverage existing resources and expertise for a competitive advantage.3. Distribution Control: Direct integration into distribution channels ensures stability and reliability.Disadvantages:1. Management Complexity: Increased operational intricacies pose managerial challenges.2. Focus Dilution: Diversification may lead to a loss of focus on core competencies.3. Innovation Risk: Reduced pressure for innovation without competitive market dynamics.Strategic Considerations:- Assess Core Competencies: Align integration with existing strengths and capabilities.- Mitigate Risks: Proactively address complexities to minimize potential disruptions.- Balance Control and Collaboration: Strike a balance between control over the supply chain and strategic partnerships to foster innovation.In essence, forward integration holds promise for companies seeking market influence and profitability. Yet, success hinges on adept navigation of its challenges, strategic foresight, and a commitment to maintaining organizational agility amidst expansion.

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This semester, I had the privilege of touring the Amazon Fulfilment Centre in Mesa, Arizona, United states, where I witnessed first-hand the remarkable supply chain processes and state-of-the-art technology driving Amazon's order fulfillment and delivery operations. It was captivating to observe the practical application of the principles I've studied on such a grand scale! Amazon undeniably stands as a frontrunner in the industry. I extend my heartfelt gratitude to Andrea Cherman, Ph.D. for orchestrating this enlightening excursion and offering us an insider's view into the workings of a global e-commerce titan. #AgileProjectManagement #Amazon #PMP From the moment products arrive to the time they reach your doorstep, each step is meticulously coordinated to ensure efficiency and customer satisfaction.Here I have explained the Process. 1. Inbound: Products are received and organized into yellow totes before being transported to the stow station.2. Stow & Retrieval: Items are stored in coded bins within yellow storage pods, retrieved by mobile robots guided by 2D barcodes.3. Picking: After you place an order, a mobile robot brings the pod to the pick station where employees retrieve your item.4. Packaging: Items are boxed or bagged at the packing station, with packaging size suggested based on product dimensions.5. SLAM (Scan, Label, Apply, Manifest): Packages are scanned, labeled, and weighed before shipping labels are affixed with precision.6. Shipping Sorter: Labeled packages are sorted based on destination and routed to the appropriate shipping trailer.7. Outbound: Trucks are meticulously packed to prevent shifting and damage, supporting Amazon's climate goalsAt every stage, technology, and human expertise come together to ensure seamless operations and timely delivery.

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