It’s just business
By ‘supply chain’, we are talking about every organisation and process involved in getting a product to an end customer, incorporating a range of activities such as product development, sourcing, manufacturing and logistics. As technology is constantly revised and improved upon, the state of supply chain management software is ever-evolving, driving the future capabilities within eCommerce forwards and providing your competitors with a secure advantage.
Supply chain management is ultimately business strategy. Therefore, like any optimal strategy, efficient supply chain management requires change management, collaboration and risk management in order to ensure a fighting chance at success. Customer satisfaction and subsequent profitability heavily relies on the supply chain, reflected by the finding that 79% of companies with high-performing systems achieve greater than average revenue growth. With this sobering info in mind, if you’ve never placed particular value on supply chain excellence then there’s no time like the present to get involved-even if this means outsourcing through external software.
What’s in a name
Referring to the overlapping layers of separate yet interdependent processes in a business, supply chain management pursues the benefits that result from the integration of data across all these processes. Intelligent technology within an excellent supply chain system identifies, assesses and informs on the following areas:
Planning and purchasing:
This area of the supply chain concerns itself with demand planning and the optimisation of forecasting accuracy. Taking account of the order history of a business, at fulfilmentcrowd, our unique platform can predict ideal stock levels and automate purchase orders through an algorithm.
Inventory management:
Software proficiency in this area tracks the location, number and status of physical stock. With this information, your business can ensure minimum order quantities are met in order to improve cashflow speed and save on storage costs. Touching shoulders with demand management, the tracking of inventory levels within this process are crucial to informing the replenishment process, as well as prompting contact with suppliers or manufacturers so that levels never drop below customer demand.
Logistics and warehouse management:
This area refers to the tracking of orders through the flow of pick, pack and dispatch. Upon receiving stock, supply chain software automatically reconciles quantities against purchase orders and releases stock for put-away, saving precious man-hours. At fulfilmentcrowd, our mobile hand-held devices update stock locations in real-time, while bar-code validation at location and product level instils near-100% picking accuracy.
Why get involved?
Cracking supply-chain management is of invaluable advantage to any eCommerce business. The primary rewards from adopting an efficient software platform are:
Increased visibility: The latest state-of-the-art software strengthens the supply chain by providing complete transparency of real-time data across all areas of the chain. For example, gaining visibility into supplier inventory shortages allows businesses to pre-empt shortages in stock availability, and update their eCommerce website accordingly.
Decreased purchase, storage and supply chain costs. More efficient and streamlined supply chain software identify and trim away processes that add no value. In fact, the most optimal supply chains have 15% lower overall costs.
Improved cashflow resulting from our software’s forecasting module and automated warehouse management processes speed up customer delivery lead times, contributing to greater customer satisfaction rates.
If you're a growing eCommerce business struggling to keep track of your supply chain, then get in touch. Our automated management software takes care of all the ground-work, making smart decisions for your business whilst giving you more personal time.
by Liz Churm on 13/09/2018
By Katie Shepherd