4 problems facing consumer electronics and what to do about them
Let’s face it. Working in supply chain is no walk in the park. Unless of course you’re walking barefoot and the ground is covered in razor-sharp pebbles that randomly change location. Then maybe it’d be comparable.
The fact is, while supply chain is big business for most companies, it also comes with a whole new set of challenges unique to its many processes, data requirements and functions. But depending on which industry you work in, your specific set of supply chain pain points could vary greatly. This blog series takes an in-depth look at some of the specific supply chain obstacles certain industries face, and how to potentially overcome them.
First up is consumer electronics.
Relatively short product lifecycles (typically 6-9 months) with multiple feature changes throughout
This creates an atmosphere full of risk. With so many changes happening over the course of the lifecycle, you’re likely carrying extra inventory to make sure you have enough stock on hand to cover any part substitutions or adjustments. That means higher carrying costs and a greater risk to your bottom line if the product ends up as slow moving, excess or obsolete inventory.