It's not too late to make a New Year's Resolution, so here's one for molders and moldmakers: "I resolve not to be the weak link in the supply chain." In the latest Supplier Survey report from the Original Equipment Suppliers Association (OESA), it was evident that the supply base is a huge concern for the Tier 1 suppliers.
Many of the respondents indicated they are doubling or tripling up on suppliers for certain tooling and components, depending on the commodity. It was also noted that they are going to invest in more supply chain management people to pay visits to suppliers and ensure that these companies have the capabilities to produce tooling and components in a timely manner. Mitigating the risk in the supply chain is a big priority for both Tier 1s and the OEMs.
With OEMs in many industries, including the automotive and aerospace industries, getting busier, having suppliers that can meet demand is critical to their success. In a Dec. 30 issue of the Wall Street Journal, an article looked at Boeing's efforts to strengthen its supply base as orders for its best-selling 737 jets have reached all-time highs (no pun intended!). The company has plans to "stress-test" suppliers through comprehensive reviews by "supplier examiners." Boeing has increased "its ranks of these examiners with about 200 engineers and other supply chain specialists in the past 18 months," said the WSJ article. ...