Modern technology has accelerated the rate of change in our world and allowed us to operate more effectively and with lower costs. Along with this rapid change, manufacturing network optimization becomes even more nuanced and more essential.
Retooling production networks to strike a new balance between cost optimization, remaining competitive and increasing resilience where it matters most are now chief concerns of supply chain optimization efforts.
Where manufacturing network optimization meets supply chain optimization
Perhaps the most daunting challenge is to optimize the manufacturing network as a key piece of supply chain optimization. Analyzing production assets within the structure of the overall value chain to determine what to keep, what to shed, how to optimize costs, where to build in redundancies and where to add flexibility and agility is complex. There is no simple answer. However, having a sound and robust process in place with technology that supports manufacturing network optimization and allows you to model strategic “what if” scenarios is critical.
To learn more about increasing competitiveness with manufacturing network optimization, read my AspenTech article, “Manufacturing Strategy Imperative: (Re)Design for Cost Reductions and Resilience.”