Aerospace firms would benefit enormously if their suppliers shared process capability data from their lines. But first, you will have to overcome a supplier’s reluctance to share data from their equipment. The key to doing so is conveying the benefits for both parties, such as an enhanced relationship and being able to identify issues as early in the process as possible, which reduces costs for all parties.
Aerospace and defense firms generate an overwhelming amount of data, which is stored both internally and externally. With the sheer volume of data only increasing, the procurement and supply chain function is no exception in looking toward advanced analytics and business intelligence to better leverage their mountain of data.
The late Philip Crosby argued that the performance standard that defines total quality is zero defects, which he defined as conformance to requirements. Taguchi further argues that any deviation from a target value carries with it some level of opportunity loss due to scrap, rework, and dissatisfied customers. We can operationalize the pursuit of zero defects, however defined, in several important ways. Each recognizes the importance of eliminating product and process variability.
In the aerospace industry, nothing is more important than product quality and compliance to FAA regulations. To ensure all parts meet the strict specifications of OEM’s like Boeing and Airbus, not to mention the Federal Aviation Authority, quality begins early in the supply chain with a concept known as Supplier Certification.
The success of an aerospace firm is often predicated on the performance of its suppliers. After all, how can a firm thrive and grow if its suppliers are not consistently meeting their requirements?
The aerospace industry is highly regulated and faces many unique challenges. Program managers must constantly analyze data as part of their quest to optimize performance and minimize exposure to risk. To help them succeed, aerospace firms are increasingly leveraging technology to filter out the noise from the information that matters. Here are 5 steps to improve supply chain visibility.
Typically, asset management firm require to provide standard reports to ever increasing client base. It can be challenging to keep up with reporting requirements due to increasing demand, resulting in a growing backlog and longer turnaround time.
Eliminatemundane task of report generation and automate it.
Asset management firms are required to provide standard reports to their (hopefully) ever-increasing client base. It can be challenging to keep up with reporting requirements due to increasing demand, resulting in a growing backlog and longer turnaround time. It’s time to eliminate mundane reporting tasks by automating them.
Did you know there’s a central repository designed specifically for asset management firms that can not only funnel all data from various resources, but also allows you to simply import data?
UBTI’s Financial Reporting and Analytics System (FRAS) provides users with role-based visibility of valuation reports, performance, and risk management data for efficient analysis of complex information.
This streamlined data empowers firms to spend more time on what matters most: managing risk, maintaining compliance, reducing expenses, and focusing on customers.