Supply Chain Design for Mechatronic Instruments
Faiyaz Syed, Executive Vice President of Global Operations
Posted on August 21st, 2018
As an expert in operations and supply chain management, how do you know whether a supply chain is designed for success?
A product’s success in the marketplace is highly dependent upon its supply chain. Design for Excellence (DFx) requires that supply chain considerations be incorporated into all stages of product development. Component selection, costing, alternate sources, availability and sustainability of supply must each be carefully weighed.
At Paramit, we perform a pre-production comprehensive stress test on each product’s supply chain using simulations of various quantities. We review availability of alternative sources, differing quantity breaks, and component lead times, including lead times associated with volume ramps and non-cancelable, non-returnable (NCNR) items. For lower volumes, heavy and/or custom parts, we focus on the localization of our supply base relative to our demand quantities. By completing this test early in the process, we pre-identify suppliers and/or components subject to failure at certain volumes or lead times, and implement a plan to retire or reduce related risk levels.
What global trends and innovations are affecting the way businesses currently think about supply chain strategy, and how is Paramit keeping pace with the latest breakthroughs?
Exciting work is being done with machine learning and AI in the field of supply chain management. At Paramit, we watch developments closely and evaluate how to apply them in ways that provide value to our customers. Both within and outside its enterprise resource planning (ERP) system, Paramit has automated procurement tools in place to support the supply chain needs of large electronics distributors. We also currently partner with technology developers to evaluate and advance the use of Augmented Reality Platforms and new tools in the assembly process. Paramit strives to be a nimble, cost-efficient, and flexible manufacturing supply chain partner. We are always open to developing custom supply chain management solutions that work well for both our supply base, as well as for our customers.
What makes Paramit’s operations and supply chain management especially well-suited to building complex mechatronic products?
Paramit’s unique computer-directed assembly process (vPoke), along with its supply chain software applications, has been custom built to support the manufacture of mechatronic intensive devices. Furthermore, every member of the Paramit team accepts full responsibility for “owning the outcomes” that our customers expect and deserve. Our collective focus is always on the successful completion of the entire project, rather than the completion of individual tasks. Our engineering, operations and supply chain management teams invest heavily in the preparation leading up to a product launch. To ensure that there are never any unanticipated surprises, we employ an approach to teamwork called “CenterPoint.” Being on “CenterPoint” at all times guarantees the project team (including our supplier and customer) are always in sync and information is being shared clearly, concisely and in real time.
Please share an interesting fact about yourself that we would not be able to learn from reading your professional bio.
I am an avid technophile who consumes large amounts of information daily from tech magazines and blogs. From personal expenses to managing my investment portfolio, I take the time to simulate every financial decision. I enjoy traveling and learning about different cultures, and I believe in the goodness of people and humanity. I have been blessed to have been able to work in Asia, Europe, and North and Central America. Interacting with people from different regions broadens and expands the mind to all that is different and new, while also reminding us of how similar we all are. And finally, I am passionate about manufacturing operations and leadership and finding new ways to excel at both.
Faiyaz is a known leader in Global Marketing, Operations, NPI processes and Supply Chain Management who has spent the last two decades working in senior management positions, both in the Americas and Asia. Thank you, Faiyaz, for taking the time to talk with us and for helping us understand the ins and outs of successful supply chain design, particularly when it comes to the manufacture of complex, mechatronic products.