How does lead time impact the value of safety stock in global supply chains?
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How does lead time impact the value of safety stock in global supply chains?
Safety stock refers to the inventory kept on hand to counter the risk of stockouts because of the variabilities in supply and demand.
Safety stock is kept by considering the lead time in mind. It is obvious that the longer the lead time the more the safety stock should be kept to compensate for the stockouts.
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- “There are known unknowns, knowable unknowns and unknowable unknowns”( Donald Rumsfeld). How would supply chain managers deal with the prospect of riskand vulnerability within global supply chains?What role do you foresee analytics having in the future of supply chain management?What can be done to reduce the risk of environmental and economics in supply chain management?
- How do we distinguish between the types of risk in the supply chain?“There are known unknowns, knowable unknowns and unknowable unknowns”(Donald Rumsfeld). How would supply chain managers deal with the prospect of risk and vulnerability within global supply chains?Highlight 3-5 key risks in the supply chain of Ford the automobile company. How would you mitigate these risks?