It is not exactly a secret that there are a lot of supply chains that are having issues right now. Even though supply chains have been significantly disrupted, there are ways for you to overcome a lot of the challenges that you face. It simply means that you need to focus on supply chain planning for your business. Modern technology has come a long way, and you can use it to handle a lot of your supply chain difficulties. What are a few of the most important tips you should follow if you want to improve your supply chain planning?
1. Make Changes in Your Distribution Network
There might be opportunities for you to make changes in your distribution network that can improve your supply chain. For example, you might want to start by moving your suppliers closer to home. Even though there are a lot of companies that have enjoyed low rates by moving their factories overseas, the risk of having long supply chains right now is too great. If your supply chains have to pass through multiple countries, there are plenty of opportunities for something to go wrong. It might be time to make some changes in your distribution network to reduce the risk created by your supply chain.
2. Invest in Tools To Help You Track Inventory
Transparency is critical in the current environment. You might want to invest in a few tools that can help you track your inventory. For example, if you have an order coming in from somewhere else, you might want to use tools that can help you keep an eye on that inventory as it moves from place to place. With increased visibility, you will be more prepared if something goes wrong. Then, you might be able to make changes before the order gets lost or significantly delayed. There are tools that have been designed for specific industries, so you may want to take a look at your options.
3. Reduce Redundancy and Inefficiency
You may also want to take a look at a few tools that can help you reduce your redundancies and inefficiencies. You may not realize that you have a lot of redundant steps built into your supply chain, but it might be time for you to make some changes. For example, you might want to invest in some automated tools that can help you handle a lot of the tasks that you do by hand. If you can remove redundancies and inefficiencies from your supply chain, you will have an easier time handling all of your operational tasks on time.
4. Centralize Your Supply Chain Data
In addition, you should make sure that you centralize all of your supply chain data. You probably have a lot of information regarding your supply chain, and you need to put it all in one place. As a result, you will have an easier time keeping track of it. Even though different departments might require different sets of information, overarching visibility is critical in the current environment. For example, you might want to invest in a CRM program that can compile all of your information for you and take a look at your most important metrics. By centralizing your supply chain information, you will have an easier time making decisions.
5. Find the Right Communication Tool
Communication is paramount right now. You need to make sure that you communicate regularly with your suppliers. If you establish the precedent that you expect your suppliers to talk to you, they will keep you updated regarding your orders. A long email chain is probably not the best way to keep in touch with their suppliers, so you should invest in communication tools that can make it easier for you to share files, videos, pictures, and conversations with your suppliers. That way, you will have an easier time keeping track of your information.
Focus on Supply Chain Planning
Ultimately, there are a lot of ways you can protect your supply chain, but that means that you have to be proactive. There are plenty of tools that can handle this for you, and you need to use digital technology to help you save time. Speed is valuable in the current environment, as it allows you to stay one step ahead of your competitors. You might want to reach out to an expert who can help you identify the most important tools that can help you maximize the value of your supply chain. Do not hesitate to reach out to ask for a helping hand.
Check out: Supply Chain Technology Trends To Watch in 2021
Source@techsaa: Read more at: Technology Week Blog
