Aerospace supply chain best practice

How do I get in touch with [insert company/person here]?

It’s the question on everyones lips, especially these days when every business is trying to manage rising costs. So, how can aerospace companies manage these explosive pressures and stay ahead of the game today? And, how do you mitigate the risks and overcome the numerous hurdles that appear in these complex supply networks?

Technology such as the WEAF Network Portal, can act as a facilitator, helping aerospace businesses harness value from data, respond faster and plan better — all of which go a long way towards managing costs and achieving supply chain best practice.

Aerospace supply chains have shown incredible resilience over the last few years. However, it’s now time for these companies to redesign their supply chains to be more pro-active. Without this change, they risk reverting to pre-pandemic practices that will likely be disrupted again by future challenges. Below we have identified six supply chain best practices from WEAF members that are already succeeding.

Supplier-side delays are one of the most common reasons for supply chain disruptions.

Disruption is driving the need for greater digital transformation alongside increasing economic pressures to decrease costs, without reducing business outcomes. A lack of availability of raw materials, import/export issues, weather and natural disasters, political and regulatory issues and other unforeseen obstacles can all slow down or even cease the delivery of supplies.

The best (and easiest) way for aerospace businesses to overcome supplier delays is to invest in supply chain access and introductions via the WEAF Network Portal.

While it’s hard to predict delays or droughts, aerospace businesses can still account for, and mitigate, these problems. One of the main benefits of building strong alliances with suppliers is the ability to forge open and responsive communication that allows both parties to reach out as soon as possible once a potential delay is on your radar. In addition, diversifying your suppliers can help you when predicting a delay so you are able to deal with the new circumstances.

Enhance your Supply Chain

Aerospace companies that have established strong relationships with providers are much better able to navigate the current lack of available equipment. Companies also need to proactively diversify supplier provider relationships to add flexibility to their networks.

WEAF is dedicated to developing the aerospace supply chain in the South West through collaboration, knowledge sharing and growth opportunities.

There may be opportunities to obtain greater rewards by going outside of an established supplier or contract, but there is also the risk of being penalised for not being in compliance with the established contract.  Any diversification or variation of suppliers must be agreed with the company first (or even when the contract is drawn up) to ensure there is no penalisation or conflict.

Innovative technologies such as the WEAF Network Portal, are constantly changing the way things work within the aerospace supply chain. By streamlining operations, increasing performance, and gaining essential insights, aerospace businesses can use these innovations to improve the way they operate.

The essence of supply chain best practice is nurturing communication and building connections. To find out how WEAFs Network Portal can assist you with your supply chain strategy, help you reduce costs, and advise on your business growth potential, contact us today on 01174 621101 or email enquiries@weaf.co.uk

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