There are many hurdles for manufacturing professionals to overcome in our ever-evolving climate. Tariffs, anyone? We wanted to go straight to the source and find out what some of the top challenges are, and most importantly, are there ways we can band together to solve them? We gathered manufacturing pros came for a roundtable and benchmarking discussion. We found that members of OMNIA Partners, Private Sector realize that they’re not alone in the challenges they encounter in their day-to-day activities and that through shared intelligence and experiences, there isn’t a single problem that couldn’t be solved together.
Here are a four key highlights from the discussions:
1. Supplier Risk Mitigation
Choosing a supplier has inherent risk. A strong sourcing process mitigates that risk, and uses the latest metrics to help ensure that suppliers coming into your organization can meet your needs. Companies need to analyze the symptoms of underperforming suppliers to recognize the warning signs in future relationships sooner, and before any damage has been done to production. One must also determine if it makes sense for the company to do this for all suppliers or just for key ones, depending on the ROI calculation of doing so. Another effective way to mitigate risk is to build quality depth in your supply chain buy joining a group purchasing organization.
2. Lack of Skilled Workers and the Impact on Health and Safety
The combination of Human Resource departments scaling down along with the shortage of trained skilled workers can impact your business from a health and safety standpoint. How does your company handle the hiring and training of workers and maintain above average health and safety performance? Many Members have had success through simplifying tasks to reduce the chances of a mishap, holding career days to promote better education of what’s required, and by participating in exchange programs to enhance perspective and build a more well-rounded approach. Another way to add expertise to your staff and tackle projects in the queue is to explore on-demand engineering resources.
3. Auditing Business Agreements
Business agreements come in many shapes and sizes, both formal and informal. Companies have different expectations and requirements when establishing business agreements as well as how they audit the legal, ethical, and moral obligations. The key is a continuous dialogue with your partners to ensure both party’s expectations are being met and to create an open forum for refinement and additional mutual benefit.
4. Sourcing Innovation
For a company to be truly innovative, it starts with embedding the importance of constant innovation into the company’s culture. Purchasing should play a huge role in this endeavor. The first step is gaining supplier involvement as early as possible in each project. This will ensure dead-end paths aren’t pursued and add vital proficiency to enhance what’s possible. In addition, purchasing should aim to collaborate with other departments throughout the project so all rocks are overturned and to create transparency into how decisions are affecting other areas of the company.
Performance Management for Sustainable Success
OMNIA Partners can help with your supply chain management efforts, and help you along your journey to success. In our unique approach, we work to ensure that savings goals are achieved and sustained without compromising superior levels of service. OMNIA Partners applies group leverage and influence to all aspects of the program, ultimately creating a unique experience without sacrificing individual company needs. Our knowledge of cost drivers keeps us one step ahead of the market. The result is a fine-tuned program that not only delivers meaningful savings, but also prevents the undetected “price creep” commonly associated with unmanaged programs.
There is no shortage of challenges in manufacturing today. But the more we realize that we can’t solve it all by ourselves and lean on each other to discover the best solutions out there, the more we’ll all prosper together. Let's find the right solution, designed for your needs, together. Contact OMNIA Partners.