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Elaborating on the importance of Hyster- Yale’ s supply chain, Tracy continues:“ We build innovative, quality driven equipment that requires more than just a few parts, so supply chain management is crucial to ensure we have materials and parts exactly when we need them. Which again, is why maintaining strong relationships with our suppliers and implementing our new onepiece flow system are so important to us.
“ To guarantee that we are continually strengthening our working relationships, we’ ve established a supplier advisory committee that brings our suppliers together several times a year to share honest feedback and best practices. Additionally, we conduct monthly realtime meetings with all suppliers, providing a valuable opportunity to gather and share feedback, as well as synchronize our operations.”
Collaborative power
Tracy is committed to strengthening the company’ s relationships with suppliers and fostering mutually beneficial partnerships based on integrity and clear communications.“ We are taking the time to understand our suppliers’ operations and collaborating with them to align expectations,” he says.“ We’ ve implemented an enhanced vendor-managed inventory( VMI) system, which eliminates the need for purchase orders and uses an in-process Kanban-style system. This allows suppliers to easily forecast demand. As we pull parts from inventory, our demand is automatically communicated to the supplier, providing greater visibility throughout the entire process, from products in transit to their point of use.
“ Our enhanced VMI also encourages improved planning for both us and our
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