Global economy today is converged by flow of information, finances and products. The logistics and supply management companies looking into the operations, planning and sourcing always require a powerful, integrated and in-depth management tool for maximising customer value and to gain competitive advantage in the most effective manner. It all sums up to acceptable mode of transportation, inventory, warehousing and logistics network blueprint.
Lots of businesses nowadays are adopting supply chain management solutions; some are developing bespoke software from scratch while others are simply picking ready-made solutions. When looking for a modern supply chain solution, consider the following features it must have;
- Order, Billing & Payment Management
It’s obvious that a powerful and professional billing and order management is a basic feature of supply chain which is why the software should meet this particular fact, allowing users to process orders and bills from a centralised location. The best is the capability of flexible order management for it ensures the solution working in line with the unique order need and being highly configurable.
- Logistics & Transportation Tools
The logistics and transportation tools ensure efficient materials and goods transport for the company at lowest possible cost. Such tools offer all the necessary resources to manage fuel costs and constantly fluctuating state and federal regulations of trade. To minimise overall operational costs and dismiss twists from the supply chain procedure, these capabilities must be incorporated to the supply chain management solution. Key components are dispatch management, yard management and appointment scheduling; part of integrated transportation and logistics tools.
- Inventory Management
For streamlined supply chain procedures, it’s crucial for businesses to effectively manage their inventory. Raw materials, finished goods, supplies, spare/additional parts need to be stored in a proper place, in the right quantity and time. Optimising inventory level ensures that company is free from the hassle of dealing with under and/or overstock. Real-time tools allow business owners about the inventory at any given moment thus allowing precise operations.
- Collaboration of the Supplier
A smoother supply chain procedure is guaranteed, based on the proper supplier collaboration tools which allow suppliers, employees, and customers to collaborate from any location in real-time. It lets almost every key player to involve and play their part in resolving issues if and as they occur. Various supply chain software solutions also cater to self-service portal where suppliers can access particular details, submit their requests; all of which can be done directly via dedicated supply chain management solution.
- Depository/Warehouse Management
Optimising warehouse stock, increase the efficiency and accuracy can be executed through dedicated warehouse management tools. It gives companies the ability to process orders from multiple sources thus ensuring that all the crucial needs are met in a timely and cost-effective manner.
And as warehouse operations are a critical part of the entire supply chain, choosing a solution which misses integrated and centralised solutions can further complicate and compromise the supply chain process. To receive, pack, replenish and oversee cross-docking requirement is possible with a dedicated and powerful warehouse management solution.
- Two-Way Visibility of Supply Chain
Another must-have is end-to-end transparency in the supply chain solution. The software must allow the users within a company to access immediate and real-time data without any bottlenecks, missing goods, hiccups or unsatisfied customers. These real-time capabilities let the businesses to react efficiently and effectively to change and challenge as they wake up thus paving a path to take informed future decisions.
The optimised supply chain can accelerate customer satisfaction while improving shop floor operations. A poor function, on the contrary, can decimate healthy and profitable relationships with key suppliers and customers, causing headaches and glitches in almost every corporate aspect. Pay attention to:
- Cost effectiveness
- Efficient, effective and optimum utilisation of resources in terms of both human and inventory
- Efficiency and reliability on manufacturers, retailers and suppliers
- Strong and clear strategic planning with contingency plans for the best