Improving Productivity Through Better Supply Chain Management
According to Zippia, only 6% of businesses report having full visibility of their supply chain. A supply chain is the complex network through which a company and its suppliers produce and dispense products to the final consumer, which plays an important role in business management. Without full visibility over supply chain management, it becomes much harder for companies to monitor the flow of services, goods, and information between manufacturers and delivery to the end consumer.
This is guest post by the wonderful Lucy Rose. Thank you, Lucy for writing this for me.
Due to the many fluctuations in business over the past two years, global supply chains of today are becoming increasingly complex, amplifying the need for innovative yet simplified methods of management. Data-driven approaches and circular strategies are emerging as methods of improvement. Supply chain optimisation isn’t easy, but it is important for businesses that want to retain security around better logistics management, supplier relations, and cost control.
Use Data To Drive Productivity And Collaboration
IBM explains that supply chains are composed of massive amounts of data. By tapping into the data behind your supply chain process, you can become privy to information that has the power to transform it for the better. You can use a data analytics tool to better understand risks, reduce costs, improve organisational accuracy, prepare for the future, and perhaps most importantly, make customers happy.
There may be weak spots in your supply chain that simply aren’t noticeable until a data analytics tool points them out. You can even use collaborative data tracking tools that unite information across multiple-party sources, laying out each part of the process in a clear and visually-aided manner. In the case of cold storage operations, this kind of data is even more valuable. Cold storage is higher risk and if the cold chain is broken at any stage, the costs can be enormous. Having data that pinpoints any weak spots can ensure that every stakeholder keeps their cold storage operations running smoothly and there’s no knock-on effect.
Think Circular, Not Linear
A circular economy is a system that focuses on eliminating waste and sharing resources in a sustainable loop. While you may only have heard this term applied to trendy urban enterprises, circular strategies offer numerous benefits for all systems in life — including supply chain logistics. In the traditional linear approach to supply chain management, there is a direct, top-down path from manufacturer to consumer. It is often material exhaustive, high-cost, and negatively impacts the environment.
The storage operations used in cryptocurrency management already display the effectiveness of stepping outside the linear approach to systems organisation and into the regenerative nature of a circular one. If the world wants to see dramatic improvements, it’s going to take dramatic steps outside of its comfort zone.
Looking into recycling, reusability, and regeneration as core elements of your supply chain logistics can not only reduce your company’s carbon footprint, but it can also be more cost effective and contribute to more sustainable, high-quality products.
Implement A Strong Training Program
Formulating a comprehensive training programme for those carrying out your business’ supply chain process is essential for improving productivity. Equipping your workforce with the tools, information, and incentives necessary for optimising logistics will have a trickle-down effect, allowing both employees and management to emulate and expand supply chain productivity.
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