Major U.S. industries such as automotive will face shortages of parts and the production tooling to make them unless American suppliers step up to increase capacity. An expert in online marketplaces suggests strategies that will bolster the supply chain in this country.
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Major U.S. industries such automotive will face shortages of parts and the production tooling to make them unless American suppliers step up to increase capacity. Frank Russo, CEO and co-founder of Fabricating.com, a cloud-based sourcing marketplace, reviews the key strategies suggested for meeting this shortfall. His article looks at these strategies:
Early collaboration
Focus on total cost, not price
Management of the value stream
Mr. Russo adds that online sourcing technology can be a vital enabler in all three of these strategies.
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