The cost of global food waste and loss is estimated to be $940bn a year. For businesses, this represents a significant proportion of shrinkage in retail supply chains, and it has a direct impact on companies' triple bottom lines. Does digital hold the solution?
It only makes sense that The 3M Company, with a business model resting almost entirely upon technology, would eventually get around to deploying it as a tool for realizing new operating efficiencies, while meeting rising customer demands for service.
The digital imperative is driving companies to seek new sources of value for their customers, but this mission is difficult within the often cloistered confines and bureaucracy of their headquarters. Seeking to foster a culture that is more akin to startups than the corporate motherships, many large enterprises are cultivating innovation in digital labs and incubators.
There was a time when contract manufacturers performed one specific task: making products, usually of a high-tech nature, while staying well behind the scenes. But that time is long gone.
Most manufacturers understand that skillful management of service parts operations is critical to reducing costs and optimizing stock levels throughout a supply chain network. But very few are actively leveraging the after-sales side of business as a source of greater profits.
Lawrence Black sees the circular economy finally moving from theory and high-level strategy to practical applications in design, engineering, and marketing. He has a clear view of these changes as senior advisor to the Waste Management-McDonough Sustainable Innovation Collaborative, a partnership formed in 2013 to improve the recyclability of packaging and products.
The latest news, analysis, trends and solutions regarding product lifecycle management and its impact on supply chain management. New developments in product lifecycle software - which manages product information from design to disposal - are transforming the way companies operate and allowing them to stay ahead of the competition in their industries. As these solutions continue to evolve, businesses are discovering new ways to increase efficiency and cut costs. Learn how companies around the world are using product lifecycle management solutions for supply chain optimization.
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