5 Different Ways Retailers Could Improve Their Supply Chain Management
5 Different Ways That Retailers Can Realy Improve Their Supply Chain Management.
Retailers as well as the suppliers have been more under pressure than ever before, in order to deliver goods to more number of destinations as fast as they can. And in order to stay competitive the retailers would here have to know where things are at all times so that they could re-direct shipments, rebalance inventories, responding to the new demands on the fly says rick becks a general manager industry value chains delivering cloud based supply chain collaboration solutions.
And in case there has been a problem with their supply chain and they cannot get the products to the stores and or consumers/retailers and continue to have the risks of losing the suppliers. So what steps can or the retailers take in order to make sure that their supply chain management operations have been running smoothly? Following are the 6 different ways retailers could improve their supply chain management techniques.
Going Digital: Using spreadsheets and paper files in order to keep a track of inventory and plan purchasing is not just unreliable but even a huge time suck. Not to mention, using analogue methods to keep an eye on your operations is not congruous with the demands of today’s real time world. It is important that you partner with the vendors take advantage of the EDI (electronic data interchange) and the cloud computing technologies so that you would here be able to deal with the productive pace keeping the errors to the minimum.
Being a part of B2B eProcurement network: B2B or say eProcurement process here help organizations to predict supply chain disruptions and act quickly adapting their business processes. Businesses would here need to know that their entire supply chain not just their suppliers but even their suppliers suppliers too he says. Using a B2B eProcurement process could help the retailers moving to respond proactively predicting it to create advantages and getting ahead of their supply chain disruption.
Running a vendor audit: It’s important for all the retailers and the suppliers to have a solid and holistic view of supply chain management, including on how the various vendors would operate internally among one another. And in case your freight forwarder does not have any solid communication strategy in place with your trucking provider, delays and miscommunications that could delay shipments. If your trucking and a ware house vendor is still relying on the faxes, phone messages, and spreadsheets in order to keep a track record of your inventory then it’s the right time for you to consider investing in a more forward thinking provider utilizing the technologies and running the operations smoothly.
Better communication process while dealing with supply chain: Through modern information technology organizations are now able to share two critical points with their suppliers: actual customer demand and the amount of inventory in hand. Modern scanners that are generally used at the retail outlets enable the suppliers to access the consumer demand instantaneously. Your local grocery store would probably utilize the scanning system to tally down the order or to facilitate the stock replenishment orders.
Making sure that your marketing and supply chains are in a sync: While executing promotion a lot of retailers generally overlook the alignment of the supply chain and marketing teams which is crucial if you successfully want to launch a promotion. By having marketing alert the supply chain team ahead of time that a big promotion is going to be coming up determining how much product is needed in order to avoid falling short and how it would be shipped minimizing and avoiding the delays of disruption.
To conclude there are many other different ways the retailers could use in order to improve supply chain management. It’s just that most of these would require investments that first has to be justified in order to ignore the big data hype.
Amy Jackson is a freelancer and has experience of over 7 years in Supply Chain management solutions, Procurement and Analytics industries. She has been writing on Supply chain planning, predictive analytics solutions, Prescriptive Analytics solutions and other solutions. Follow her on Google+ and get the scoop on the latest business trends.