OEMs and suppliers both bring experience, expertise and specialized knowledge to the table during the manufacturing process. Suppliers often don’t enter the picture until a design is created, and sometimes not until prototypes have been manufactured. However, there’s an argument to be made that a partnership between an OEM and a trusted supplier should be formed during the design phase. Collaborative design can benefit both OEMs and suppliers for a number of reasons.
Although the aerospace industry is leading the effort to combat counterfeiting through methods like serialization tracing and supply chain control, the use and sale of counterfeit parts is still an issue in manufacturing. Counterfeiters are changing with the times too, applying more sophisticated approaches and techniques to skirt testing, laws, and standards. Blanks, clones, and undisclosed remanufacturing are just some of the growing trends infiltrating the world of counterfeit.
Investing in the right prevention procedures, purchasing processes, and product quality controls might seem daunting, but the value of the price of protection far outweighs the cost you might pay for buying, selling, or using counterfeit parts. Here are some steps you can take to mitigate the risk of falling victim to counterfeit.
The Bill of Material is a critical component of the planning process in manufacturing for any industry. This comprehensive list of components and equipment required to manufacture a product can fluctuate depending on cost, availability, and capacity. For original equipment manufacturers (OEMs), outsourcing a level up the Bill of Materials might prove to be beneficial.
Industry predictions indicate that manufacturing will grow faster than the general economy*. Growth in areas such as global aircraft manufacturing is projected to spike from the less than 4% rise seen from 2013-2017 to nearly 9.5% from 2017 until 2021. These high manufacturing expectations are bound to cause an increase in production needs for OEMs. But how do you best scale up production without falling victim to overspending on inventory or finding yourself unable to fill orders due to long lead-times and or lack of capacity?
With the news of backlogs at record highs this year, industry OEMs and suppliers are looking for ways to ramp up production to meet demand. Meeting these needs can become challenging when fulfillment issues arise. According to forecast experts like Deloitte, manufacturers in 2019 should be focused on strengthening their supply chains, more effectively managing projects, and leveraging advanced technology to increase efficiency. As OEMs and suppliers both contemplate ways to meet demand, here are a few things all procurement professionals should look for in suppliers to prevent fulfillment pitfalls.
One way a company can support its community is by offering educational and employment opportunities to the members of the community, especially students. This is particularly true for companies, like Liberty Electronics, in the STEM field. By engaging with the community, the company can educate students about the field and equip them with opportunities for the future. Larger companies, such as Lockheed Martin, do this regularly. Liberty, though located in a smaller community, still offers valuable resources to the area through career, STEM, and mentorship programs to reach students and potential employees.