Supply Chain

Specright keeps you up to date on all things specification management – see all the latest when it comes to Supply Chain!

cannabis leaf and oil

Supply Chain Management in the Booming Cannabis Industry

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The cannabis market going into 2021 has never been stronger. The industry is expected to climb to $73.6 billion in the U.S. alone by 2026, and its economic impact may hit $130 billion by 2024. But the industry’s boom can’t overshadow the many challenges for manufacturers, suppliers, and retailers. Regulatory compliance and legal requirements have…

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supply chain visibility vs. traceability

Supply Chain Visibility Vs. Traceability: What’s the Difference?

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Supply chain visibility and traceability are both essential for improving supply chain functionality. Many companies have limited knowledge about how their supply chain works outside of one or two upstream or downstream layers. By gaining more transparency throughout the supply chain, companies are in a better position to identify inefficiencies, reduce complexities, and improve decision…

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supply chain risk

Mitigate Supply Chain Risk with Master Data Management

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Reliable supply chain data is critical to ensuring efficiency, effectiveness, and ongoing operability. When data is missing, incorrect, or inaccurate, it opens the doors for a number of business risks that could harm profitability, create delays, and damage your reputation.  To mitigate supply chain risk, organizations are turning to better ways to collect, share, and…

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supply chain digitization

Supply Chain Digitization is Vital to the Future of COVID-19 Vaccinations

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Welcome to the age of information, where you can access your entire supply chain at the touch of a button, every asset has a digital twin, and the fate of the COVID-19 vaccine depends on how well we manage our specifications.  COVID-19 and the Supply Chain In the average supply chain, there’s a lot to…

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supply chain network

Build a Resilient Supplier Network with Supply Chain Master Data Management

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If there’s ever a time to fix glaring inefficiencies in the supply chain, it’s now.  To be fair, COVID-19 did not create the supply chain issues like slow global lead times, product shortages, geopolitical restrictions, and logistics disruptions that many industries are currently experiencing. Rather, it further exposed and amplified poor sourcing strategies and distribution…

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Why Supplier Collaboration Is the Only Viable Future for Procurement

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In times of uncertainty, are two heads better than one? In cases like procurement, the answer is a resounding yes! COVID-19 has shown us the dangers of not being forward-thinking when it comes to the supply chain system. No one saw the effects of a pandemic coming, but once the supply chain was disrupted, many…

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3 Best Practices for Writing Technical Specifications

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Specifications are the contract all stakeholders agree to when creating a new product, and getting them right is vital to a successful project.  Traditional specification management processes aren’t designed for the constant change and evolution of the marketplace. But how do you achieve better version control, streamline communication, and get your customers the products they…

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Smart supply chain

Is Your Supply Chain Smart and Sustainable?

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As technology gets smarter, so do all of the components, processes, and industries affected by it. The goal of adopting smart technology is to enable a better way to share information in real time to aid in collaboration. This often takes the form of automation and AI, but it can also include the unification of…

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New Research Highlights Specification Management Supply Chain Opportunities

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Today’s consumers are a unique breed, demanding more specialized products that cater to their tastes and needs as well as greater transparency into the products they buy. Although many companies have been quick to pivot to growing consumer expectations, the result has left a trail of fragmented data and proliferated SKUs that organizations struggle to…

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5 Ways to Make Your Supply Chain Sustainable

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Aiming for a more sustainable supply chain is an important piece to doing business ethically. But many companies find it’s hard to put sustainability into practice, especially in a way that doesn’t sacrifice speed, quality, or cost savings.  However, the pressure from vendors, partners, consumers, and stakeholders continues to mount when it comes to pushing…

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