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Fast feedback loop on Supply Chain improvement projects helps.
Supply Chain teams work on several improvement initiatives. A key element often missing in these projects is the fast feedback loop. For example, if we change a parameter like MOQ with a particular vendor of critical items, does it help? If we have executed it well, it should reduce stock shortages as well as excess inventory pileups.
We need to connect these three in the form of a fast feedback loop and monitor it. If the expected improvements are visible, we should reinforce the action with another reduction in MOQ. However, if we don’t see an improvement, it’s time to revisit the execution and make the necessary modifications.