In this episode of "What the Duck?!" with your host Sarah Scudder, we explore the intricacies of inventory management with guest expert Simon Watson. Simon shares his wealth of experience, having navigated inventory challenges in both large corporations and smaller startups. He discusses the importance of safety stock, especially in the context of supply chain disruptions caused by events like COVID-19. Simon emphasizes the significance of effective communication within the supply chain, helping partners align their goals for improved results. Join us for valuable insights into inventory management and the critical role it plays in ensuring the availability of life-saving medical devices.

SHOW HIGHLIGHTS

Simon’s Career Journey in Manufacturing

Navigating and Managing the World of Returns 

Effective Inventory Management Practices

Challenges of Forecasting When Dealing with Imperfect Data 

How Contract Manufacturing Works 

How to Effectively Demand Plan with Inaccurate Data

Challenges Faced by Supply Chains During COVID-19 

The Significance of Effective Communication within the Supply Chain 

Future Planning and Strategies for Better Collaboration 

MOMENTS TO DUCK AROUND

SIMON: On the Importance of Safety Stock

“We never want to run out of inventory. It's a medical device that has a large effect on saving people's lives. So, we'd rather eat the cost of holding more inventory than run the risk of doing just-in-time and ending up without anything for a period of time.' So, we actually have a very aggressive amount of safety stock. We hold three months of inventory, so we have a pretty large buffer.”

SIMON: On Effective Communication in Supply Chain

“And I've always had the belief that if you communicate effectively and make people understand what your end goal is, then you're going to have better results. So, that's going to be one of the big things we're focusing on next year is helping some of our partners be able to understand a little bit more what our end goals are and giving them better visibility to where we are and on track to get there.”

Connect with Simon and learn what he’s been duckin’ around with:

Simon Watson | Baxter International 

Connect with Sarah and find out more about what the duck she’s up to

LinkedIn |Twitter |SourceDay |SourceDay.com

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