Once you have the company and the products, the next step in your business management process is tackling your supply chain logistics. With an ever-changing retail environment, companies should be right on top of the most efficient methods of supplying consumers with their products. An effective supply chain also suggests that a business has strong supplier and customer relationships. Most importantly, a company should implement supply chain practices that enable the company to reduce costs, improve efficiency, and meet customer expectations by delivering products on time.
A significant portion of a company’s costs are involved with the supply chain, and some businesses don’t realize the actual prices. A company must be able to procure distributors, retailers, and markets in order to get their products into the hands of consumers. With the modern complexity of a global marketplace and online retail options, an effective supply chain is a necessity. It helps improve the performance of the company and can reduce costs when efficiently maintained.
Leading corporations, like Amazon and Walmart, have set a gold standard for delivering products to consumers in record time. As a result of companies being able to deliver orders so quickly, customer expectations have understandably increased. When a customer places an order, they expect the correct order to arrive on time, with tracking information available at all times. Companies should also have the resources that enable customers to return orders when necessary.
Advances in technology have required that companies quickly and effectively adapt to the new digital environment. Implementing the latest software, like real-time inventory management, warehousing software, and Electronic Data Interchange (EDI), is needed to track products and shipments. Managing your supply chain analytics also provides your company with an overhead view of where you can reduce costs or what areas you may need to allocate more resources to.
Supply chain management is one of the most essential business functions a company needs to have mastered. One way to do this is by streamlining your supply chain to reduce points of contact, thus saving time and money. American Distribution Services has extensive experience and knowledge of the most effective supply chain practices. We function as a one-stop distribution solution for our clients. If you’re interested in learning more about how we can work with your company to maximize your supply chain, visit our website or give us a call today!