- Priyadharshini K
- 04-Sep-2017 06:10:27
Climb on these 5 steps to optimize Supply Chain management
It has become a great
challenge for the enterprises in maintaining the supply chain data recent times
to cope up with the growing structured and unstructured data. The supply chain
data of many enterprises seems to be a complex system to handle the processes,
people and technologies.
The growth of global markets, increasing customer
expectations and more intense & diverse competitive pressures are driving
the development of new supply chain methodologies and strategies. This
increasing complexity need to re-evaluate frequently to ensure the optimal
operation of manufacturing and distribution.
Even though, there are number of tools available to meet the
complexity and to optimize the supply chain, in this article, we present the
five important steps to optimize the supply chain.
Think
globally but act locally
It is an important point to consider while thinking
strategically about supply chain or value chain planning. A clear and concise
supply chain must be fully aligned with the business strategy, to meet the
complex and competing business goals such as minimizing capital, improving
operating margins and enhancing the customer experience. However, during the
execution of the supply chain it is important to optimize locally to maximize
the investments in critical resources: infrastructure, assets and technology.
Focus
on Core Strengths
Focusing on organization’s core competencies will helps to
grow your business. A variety of modeling tools are available today and
choosing the right system begins by understanding the core strengths of the
environment in which you work and how often you need to change your supply
chain. This sensitivity analysis is performed to evaluate impacts on how a
company is working to improve the parameters it uses to drive a better supply
chain system.
Improve
Collaboration
Improve collaboration between Manufacturer/Supplier and
Retailer for Demand Data Driven Forecasting and Inventory Management. This will
help the organization to reduce the inventory levels, improve fulfillment
rates, product availability and visibility. Today technology provides wide
range of opportunities to collaborate and there also exists a proliferation of
data should be refined to optimize the supply chain process.
Utilize
Mobile-Based Technology
This technology paves a way and drives the companies directly
to get connected with the customer. It improves the sales, marketing and
enables direct and quick services to the customers. Providing information about
the item contents, provenance, manufacturing methodology enhances the brand in
the market and brings the customer attention.
Build
a responsive supply chain
Use the data sources such as MIS dashboards, POS sales as
well as social media information to identify trends and demand changes
frequently and much earlier. This in turn enables your supply chain to respond
much faster to increase the sales, to improve the service levels and to
maximize the benefits.
A world class supply chain system is essential for a
consistent flow of the product from the manufacturing sector to the end user. A
well designed supply chain network significantly improves margin, market
expansions, enhance the customer experience, and reduce operating costs.
