We all know the 6 P’s, but how well do you apply them when considering your consumable supplies?
The quickest change you can make to your supply chain efficiency is to take time regularly to look at the work ahead and plan for your wire and consumable use well before you need it.
This will ensure you have the appropriate consumables, with any required certification, in stock when the welder reaches for it. No downtime or loss of productivity, no stress trying to locate product and get it in urgently. Seems obvious? It’s surprising how many shops are regularly sending staff out to collect product they need urgently on at least a weekly basis.
Keep your suppliers informed of your upcoming requirements too. In today’s global market, most welding consumables are imported. Supply risk depends on the uniqueness of the product, number of suppliers, demand, length of time for production/delivery, availability, technological sophistication, substitution possibilities, etc. No matter who the supplier, there is always a limit to the amount of any stock held at any one point of time, so all it may take is an unexpectedly high demand by several customers at one time and stock out could occur.
By working closely with your suppliers to keep them informed of your upcoming needs, supply chain risk can be substantially minimised. Think of it as a strategic move. With early warning of short to medium term need fluctuations, not only can your purchasing can be much more effective in terms of matching inventory to requirements and negotiating prices, your supply partner can meet your needs with maximum efficiency and lower costs.
Small shop or major player, your business will benefit from collaboration with suppliers you can trust and bi-directional information flow.