Become a resilient enterprise that’s prepared to weather anystorm. Here are 4 factors that increase supply chainmanagement resiliency. The phrase ‘bullwhip effect’describes the fluctuations in inventory levels due to rapidcustomer demand changes. Uncertainty is a common conditionfor businesses participating in a global supply chain. Noone could have predicted how the past year and a half wouldaffect supply chains. Still, businesses can increase theirsupply chain management resiliency to prepare for futureglobal events that will affect the economy. If you rely on aglobal supply chain, these four things will improve yoursupply chain management resiliency and lead to supply chainrecovery.
Process automation is about using technology to change howyou do things. For example, you can use automation toreplace error-prone, time-consuming manual processes likere-keying data. Using automation minimizes costs, increasesefficiency, and streamlines operations.
Product traceability increases your control over yourinventory. With it, you can track your products as they movethrough the supply chain. Product traceability capturesdetailed information about your inventory using methods likecase and crate labeling at a warehouse pallet level. Binlocation labels enable easy location of stock within yourwarehouse, and GTIN labels identify trade items at any stagein your supply chain. Product traceability is especiallyhelpful for pharmaceutical, medical device, and food andbeverage companies.
As demand shifts, transparent inventory control anddistribution are critical. You must manage your inventory toprevent inefficiencies from non-integrated software or dataresiding in multiple locations. Businesses that manage theirinventory with various costing models and maintain accurateitem master data are better positioned to focus on strategicbusiness decisions and respond to new opportunities. Quality customer service has never been more critical, and improvedinventory accuracy means there won’t be stock-outs orunfulfilled orders to affect customer satisfaction.
Becoming more resilient requires adopting multiple tools tos upport critical processes. But not just any tools – youmust be able to integrate them. Integrating your systems(e.g., your inventory management system and manufacturing or shipping solution) ensures everyone will always haveaccurate, real-time data for making business decisions. Ani ntegration platform as a service (iPaaS) – integration technology that offers flexibility without sacrificing functionality – could help.
Vanguard Infotech would be willing to help and coach your organization to setup a fully integrated end to end solution leveraging modern technologies and concepts like business process automation, RPA, reporting and analytics to manage your business efficiently. Are you in look out enable solutions like process automation, predictive analytics? Reach out to Vanguard Infotech Solutions Inc. for a personalized consultation to revolutionize your operations! Let's innovate together!
