With credit in increasingly short supply, and the fine ribbon of profit stripping itself ever thinner in the cooling breeze, the time is right for a company to improve the efficiency of its supply chain.
Tight economic times, after all, turn the screws on the imperative for a business to enhance all elements of its operational processes, and to do so while resisting the temptation to pile on yet more disparate technology, thus manufacturing an even more tangled chain of supply.
The complexity of integrating many different e-business products to achieve a seamless portal environment can seem intimidating. But there are lots of reasons why overhauling a supply-chain strategy into a simple, lean system is clever. Here are six of them.
Optimize Your Supply Chain
1. It improves the lines of communication. If everyone is in regular receipt of the most up-to-date data, they can make smarter, better decisions and leverage the Internet to exploit real-time collaboration among suppliers, manufacturers, customers, vendors, product design partners and so on.
2. It increases access to information. If all interested parties have easy access to the latest on a project’s progress, there’s less time wasted in the updating and dissemination of same. What’s more, a lean supply chain that lets you make all your business decisions according to real and accurate data translates into a reduction in sales forecasting errors and a scene where mission-critical tasks are kept squarely on track.
3. It ensures that those rules that dictate the management of your business are firm and present. These include supply-chain visibility, sales forecasting, cash flow, customer loyalty, on-time delivery, credit control, minimum margin measurements and a whole host of other key measurements.
4. It reduces costs. Myriad reports crow about the savings businesses can enjoy with synchronizing their systems. On-time deliveries, for one, mean reduced costs of capital tied up in inventory, warehouse space and in writing off potentially obsolete stuff because less inventory needs to accumulate to meet fluctuating demand.
5. It increases everyone’s sense of control. A single system with lots of ways in means the vendor has direct access to a company’s goings-on and can view activities without having to wait on purchase orders or forecasts. The customer, more linked into the process than ever before, enjoys an improved ordering experience. And with a smart solution, you can ensure accurate registration of your employees’ time throughout your project lifecycle, meaning you can bill more frequently and with better precision.
6. It streamlines points of contact. By centralizing your system, multiple vendors, platforms and interfaces all retract into a single one.
An efficient, optimized supply chain system provides savings not just in costs, but also in time. Successfully integrating a range of inputs across the supply chain such that they spit out integrated, rationalized data means never missing an order, never missing a chance, never missing a beat.
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