How can you improve your understanding of the Consumer Electronics supply chain? (2024)

Know what the acronyms mean. Industries speak in their own terms and knowing the “lingo” is an important part of being accepted in that world. But don’t get caught up in “sounding like everyone else”. And always, always, always ask questions of others if they indeed speak too much with that lingo. In all industries you will encounter people who have learned how to speak like they understand things, but actually only sound like they do, but indeed do not. It’s very common and sometimes hard to distinguish who knows and who does not. Always be the person who knows, versus the person who sounds like they know.

I think technology can significantly enhance understanding and management of the Consumer Electronics (CE) supply chain in various ways, such as: 1. Data Analytics and Predictive Modeling2. Blockchain for Transparency3. IoT (Internet of Things) for Real-time Monitoring4. RFID Technology5. Automation and Robotics6. Machine Learning for OptimizationBy leveraging these technologies, companies in the Consumer Electronics industry can gain better control over their supply chains, enhance efficiency, reduce costs, and respond more effectively to changing market conditions.

Some ways to get started.1. Consider courses or certifications in supply chain management or logistics.2. Gather in-depth insights about market trends, challenges and future cast.3. Study successful supply chain model.4. Attend conferences, seminars, or webinars related to consumer electronics supply chains.

In the current economical environment we are in, the rapid growth of consumer electronics (the boom we have seen during COVID) has stopped and the CAGR is one of the lowest in the Consumer Goods industry (around 2,2%). This leads to the fact that you have to be very careful how many goods you produce and when in order to not generate overstock. A smooth and agile supply chain has maybe never been more important. This does not take away the fact that in the CE industry, time to market and availability is still a key differentiator, meaning, the anticipation of new trends and being first in the market due to a agile supply chain and fast product development is key.

It's very important to consider that electronic manufacturing industry is growing rapidly, leveraging the latest technology advancements in fabrication processes and component designing. Some of the major trends include the use of advanced materials, organic electronics and miniaturization. That's the reason why startups are increasingly develop innovations around designing and manufacturing electronic components for high efficiency and compatibility.

Excellent data is really important and essentially a major point of difference provided you have the resources to interpret that information and implement the findings in an effective manner.Most businesses fall into a bell shaped curve scenario where very few of the operators can effectively use the good data to improve their business.That can be as a result of inertia,lack of understanding or a failure to see the forest for the trees due to the every day pressures of running a dynamic business without the resources.

One thing I have found important through out my job carrier is that a lot of data are available from daily,monthly and yearly reports and material /product specification ,which can indicate trends if we analyze it . This could help to identify the strong variable to focus on in making decisions.

In my experience, engaging with the main stakeholders is the most powerful way to learn, because they are the experts on their processes and that will allow you to understand their main challenges in their Supply Chain. Also, when you have the chance to make gemba walks in their production areas or warehouses, it will allow you to identify their main pain points, and from there a solution can be provided. Remember that collaboration is key for finding win win situations.

Involvement with Stakeholders helps learn Supply Chain very quickly. Every Stake holder is a pool of knowledge in their respective field.They are SME in their fields.

With over 25 years in the industry, advocating for scenario experimentation is vital. The consumer electronics supply chain faces uncertainties and risks, impacting performance. Utilising scenario planning and simulation tools allows testing diverse situations. This involves assessing scenarios like changes in demand, supply, cost, quality, lead time, inventory, and service level. Employing scenario planning software and models provides a proactive approach to anticipate and mitigate potential disruptions, enhancing adaptability in the dynamic consumer electronics supply chain.

The supply chain of consumer electronics is wide, dynamic and highly competitive. Which means that sustainability in such a competitive environment is challenging. Hence the use of best practice is necessary for making the supply chain robust and resilient. All these best practices must ensure that the supply chain is agile and have cost advantage among competitors.

Die Observierung von Mitwettbewerbern ist sicherlich sehr wichtig, um das Marktgeschenen einordnen zu können. Jedoch bedeutet die Aktivität von einem oder mehreren Wettbewerbern nicht automatisch, dass dies der richtige Weg ist. Vielmehr ist es sinnvoll die eigene Ausrichtung in Bezug auf Marke und Produktsegment abzustimmen und dies mit der Mittel- und Langfristperspektive überein zu bringen.

Translated

I once attended a large training event with around 5000 employees. Despite management's initial reluctance to showcase certain products, the younger store staff found them appealing, convinced their own management to order them, and later proved successful in sales. This experience highlighted the importance of those closest to the customers understanding their needs best.

Also don’t be afraid to reach out to people in the industry and ask for mentorship or even a brief meeting. That doesn’t mean you are connecting to sell yourself or a product, but even a simple introductory message that you noticed that they work for x and you really want to learn more or talk a little about how they made their way to that company. Many professionals enjoy speaking about what they do and are willing to speak to others about how they achieved their success and you can learn from others.Not all have time, but if you ask for 15 minutes, you’d be surprised how many say yes if you are someone looking for guidance.