The supply chain is a magnificent machine (metaphorically speaking, of course). When all parts of the chain work together correctly, the overall result is a successful one. If one small link is defective, it throws off the balance completely.
For shipments, time and money are on the line every day. That’s why it’s so important to streamline your supply chain to ensure jobs are done, money is saved and clients are happy.
Looking for ways to boost efficiency? Here are our 5 best tips for supply chain excellence!
1. Make everything more transparent: Using a solid ERP system can help tackle many common supply chain problems, such as waste and fraud. As well, inventory management takes a major blow when software mistakes alter inventory count. Open transparency of the entire chain and reduce financial loss by increasing internal SCM.
2. Vendor Performance: You’ll want to keep a close eye on this, because a healthy supply chain depends on a successful vendor. Stay on top of invaluable data, such as ratings, by gathering metrics produced through ERP systems.
3. Turn to IT for more than just the standard: Often times, the IT department is contacted solely to deal with crisis’. Why not reach out to them for more? They can give you suggestions and advice on new emerging software that can potentially bolster your supply chain and keep it tech advanced.
4. Give your employees room to grow: The hands that work at every level of the supply chain are a huge focal point for growth and success. Take time to get with them one-one-one. Initiate training sessions to develop and improve new skills. Give them room to flourish and grow in their careers.
5. Partner with a 3PL: If you don’t have a lot of knowledge about running a supply chain, partner up with a reliable source that does. Third party logistics companies are invaluable, because they are comprised of talented, experienced individuals who can look at your supply chain and use their connections to smooth out the kinks. Best of all, you get peace of mind knowing it’s being handled by experts.