How Electronics Companies Can Increase Supply Chain Agility
by Joe Longo, on August 20, 2020
Ever since Gordon Moore predicted the doubling of the components on an integrated circuit every two years, the demand for electronic components expanded with their growth in performance and reduction in size. Powering everything from cell phones and insulin pumps to home thermostats, smart technology continues to drive growth in the industry today. The result of this rapid change is an unremitting requirement to innovate while continually increasing efficiency and reducing costs.
With the electronics manufacturing operating under such highly competitive conditions, one would expect the coronavirus pandemic, which caused major shifts in both supply and demand of components and products, to wreak havoc on the industry. Factory closures in Asia and shortages of components and materials interrupted manufacturing for many. Yet some companies, especially those who diversified their product lines, manufacturing sites and suppliers, quickly adjusted to the changing conditions and shifted operations to locations with less impact. Manufacturers who were able to respond to increased market demand for networking and telecommunications solutions, medical technology and computer and peripheral products, saw their revenue grow. Key to their success, these forward-thinking companies invested in Enterprise Labeling capabilities that supported their diversification.
Here are the top three ways Enterprise Labeling has enabled electronics manufacturers to respond to changing industry dynamics and increased customer demands:
Eradicate Supplier Labeling Errors and Optimize Inventory Management
Changes made after the global recession in the early 2000’s helped several electronics manufacturers respond to the disruption caused by the COVID-19 pandemic. They diversified not only their product lines, but their manufacturing sites and supply chain partners. This made it possible to shift production to other locations, source materials from other suppliers and contract manufacture with other partners. Key to the success of these shifts is their ability to adapt labeling operations to new locations and different suppliers. Labeling systems must support the quick on-boarding of suppliers, with browser-based access that extends labeling to supply chain partners, using approved labels and content. Deploying a cloud-based Enterprise Labeling Solution also allows manufacturing and warehousing sites across the global landscape to access labeling content, ensuring that products and materials arrive on schedule and production lines continue to operate.
Gain Visibility Over Your Labeling Landscape
Coupled with the need to shift product from one location to another is the need for visibility across the supply chain. With greater reliance on suppliers, contract manufacturer and 3PLs, electronics manufacturers need better insight into what is shipping and when. Standardizing labeling on a central, cloud-based platform eliminates silos of information and improves visibility of what is being produced and delivered to which locations. A globally accessible centralized solution also makes it easier to track and trace goods, aiding in the fight against counterfeiting. Incorporating business analytics that provide information via real-time dashboards and flexible reporting, can provide invaluable information about where products are in the supply chain and which resources are in greatest use.
Ensure Continuous Labeling Operations
Labeling is a mission-critical operation within the supply chain that requires highly available solutions to support uptime. Yet, as electronics manufacturers expand production to more locations across the globe, remote sites may lack reliable network connections, potentially disrupting operations with a centralized labeling system. Multi-Site capabilities, which enable local processing using standardized data from the central system, support continuous labeling operations without a connection to the central system in headquarters. Transactional data and label content are synchronized with headquarters at a scheduled time, or once the connection is re-established. Enterprise Labeling Solutions with multi-site capabilities, which enable decentralized processing within a centralized system, help ensure supply chain continuity, while maintaining accuracy, consistency and visibility over all labeling operations.
Are you looking to increase the agility of your supply chain? Take a look at our Q&A for the Electronics Industry and find out more about how Enterprise Labeling can transform your labeling processes and help to support your business goals.