Addressing the $250 Billion Excess Inventory Issue with New Course on Supplier Management

Dublin, Oct. 25, 2023 (GLOBE NEWSWIRE) -- In the wake of a 2023 Kearney study highlighting the stark reality of a $250+ billion problem of excess inventory in the U.S., brought sharply into focus by the 2020 supply chain upheaval, there's a glaring need for improved supplier and inventory management. The report reveals that the U.S. alone is grappling with this monumental challenge, while globally, census data indicates that excess inventory amounts to trillions of dollars. As companies dispose of excess electronic components from the past rush, the demand for effective supplier and contract manufacturer management has never been clearer. Addressing this demand, the "Supplier And Contract Manufacturer Management" training course has been added to's offering.

This all-encompassing course dives deep into the intricate facets of supplier management, offering actionable strategies to foster relationships that ensure efficient supply chain operations. Tailored for today's business entrepreneurs and managers, the course outlines the roadmap from identifying potential suppliers to developing robust exit strategies.

Key Benefits:

  • Relevance in Current Scenario: In light of the recent oversupply challenges, understanding how to adeptly manage suppliers can be a game-changer for businesses. By streamlining the supplier management process, companies can avoid inventory gluts and the associated financial and environmental implications.
  • Comprehensive Learning: Participants will grasp the essentials of building lasting supplier relationships, while also delving into the specifics of risk assessments, auditing techniques, and supplier exits.
  • Customised Approach: The course offers hands-on exercises to design a personalised supplier scorecard, aligning with your company's unique requirements, ensuring that supplier relationships remain symbiotic.
  • Cost Analysis: One of the standout features is the segment dedicated to analyzing the cost of manufacturing versus purchasing. This will equip businesses with the knowledge to make informed decisions, potentially saving them from costly excess inventory issues.

Given the aftermath of the 2020 supply chain disruptions and the ongoing challenges of excess inventory, effective supplier management is no longer a luxury but a necessity. The dynamics of supplier relationships play a pivotal role in determining a company's financial health and environmental impact.

This course stands out by providing invaluable insights into regulatory requirements, sole sourcing suitability, quality agreement development, and ongoing supplier process performance monitoring. Furthermore, participants will be equipped to handle nonconforming incidents, changes, and even the nuances of transitioning to a new supplier.

To summarise, the “Supplier And Contract Manufacturer Management” course is not just timely but imperative. As businesses across the globe reassess their supply chain strategies in light of past mistakes, this comprehensive course offers the tools, techniques, and strategies to make informed decisions, foster strong supplier relationships, and ultimately, drive success in an increasingly complex global marketplace.

For more information or to enrol, pleasevisit

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