TechMobile, a global leader in the mobile technology industry, has seen unprecedented growth and success over the years. Still, this success has come with its share of complex challenges within its supply chain and logistics operations.

These challenges encompass inaccurate demand forecasting, disruptions in key supplier relationships, an inefficient distribution network, and problems with inventory management, including high carrying costs and a growing issue of obsolescence.

Sarah Collins, the Director of Supply Management at TechMobile, was at the wheel of addressing these challenges. She recognized the urgency of transforming the company's supply chain and logistics operations to overcome these obstacles.

Sarah initiated a series of strategic solutions to tackle these issues directly. First and foremost, she championed the adoption of advanced data analytics and machine learning models to enhance demand forecasting accuracy that allowed TechMobile to align supply with demand better, reducing stockouts and excess inventory.

Simultaneously, Sarah fostered closer collaboration with key suppliers, working to establish stronger partnerships and reduce lead times through shared demand forecasts and coordinated production planning. The results were a 20% reduction in stockouts and a 15% decrease in lead times.

Furthering her efforts, Sarah led the redesign of TechMobile's distribution network, introducing regional warehouses and advanced routing and scheduling software. This optimization improved delivery times and slashed transportation costs by 12%. 

Additionally, she addressed the company's inefficient inventory management practices by implementing Just-in-Time (JIT) inventory methods and utilizing Radio Frequency Identification (RFID) technology for real-time tracking. Regular inventory audits became the norm to minimize obsolescence, ultimately leading to a 15% reduction in carrying costs.

Thus, with Sarah's leadership, TechMobile's supply chain and logistics operations underwent a remarkable transformation, positioning the company as a more competitive player in the dynamic mobile technology industry, with improved cost savings, better customer satisfaction, and a solid foundation for future growth.

Source: Adapted and modified from Institute for Supply Manageme

When Sarah decided to implement Just-in-Time (JIT) and Radio Frequency Identification (RFID) technology, explain five (5) ways on how did it minimize the overall carrying and storage cost in TechMobile's supply chain.