If you manage supply chain processes, you're part of an industry that is on the rise and much-needed. In fact, we've seen a close to 7% increase in warehouses in the United States in the past five years alone. What's more, some 80% of businesses that implement in-depth supply chain processes find that they're experiencing revenue growth year after year.
So, how do you get your supply chain needs in order?
There are a number of steps you can take that will help you get the most out of your company and the way you handle your inventory, logistics, communication and more.
Use the three tips in this article to guide you so that you're able to see an increase in your supply chain success and capabilities.
Push ongoing orders as much as possible
The bread and butter of your supply chain management is to secure as many ongoing orders as possible. Customers that place ongoing orders for your products will add some stability to your revenue that will get you through tough stretches.
Your supply chain integration will have the benefit of flexibility when ongoing orders serve as your revenue bedrock.
We're in the age of technology, so use automation in your supply chain operation to better fulfill these orders. Using things like artificial intelligence and process robotics will help you optimize your entire operation since you're not losing time getting stuck in the meticulous day-to-day tasks. There are plenty of software platforms that allow you to incorporate the use of these tools more effectively as well.
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Truly get a handle on your analytics use
Rather than getting bogged down with passe technology, such as simple order tracking and sales data, make sure that you incorporate analytics.
One of the best steps you can take is to bring an analytics professional on board that can learn your company inside and out and use the data to your advantage. When you make this hire, be sure that they're versed in everything from SAP supply chain software, supply chain visibility and procurement visibility to transportation visibility and fulfillment.
Many analytics experts can also set you up with a custom build software tailor-made for your business. For instance, things like scheduling and tracking become automated so that they're never a concern.
The more you get a handle on your analytics, the easier it'll be for you to see your supply chain efforts reap benefits for you.
Get creative with your routes and logistics
The most important step you can take with your logistics is making sure your routes are solid. Too many companies waste time with deliveries by having inefficient logistics.
Find a software that'll help you capitalize on your efficiency, and also make sure that you get creative with your delivery options. For instance, using a local courier service as opposed to the big-name shippers could work to your advantage.
You can use peer-2-peer services that let you match up with individuals that can handle the shipments for you. This will help you to cut costs and get inventory to your customers quicker.
Use these tips so that you get the most out of your supply chain needs.