When it comes to fulfillment speed, customer expectations are at an all-time high. Because of this, every part of the supply chain must be assessed thoroughly to ensure that the product is introduced to the market with both speed and effectiveness. To make an impactful change in your supply chain, you don’t always have to opt for pricey upgrades or hiring overhauls. To help enhance your companies current supply chain strategy, focus on the following steps.
1. Increase Your Visibility
Visibility in the supply chain industry refers to the ability to track products in transit from the manufacturer to their final destination. By improving your visibility, you help to strengthen the supply chain by making data available for your stakeholders and customers.
To promote good visibility give your suppliers the ability to check your inventory in real-time. By doing so, it allows your suppliers to plan to fulfill future demand.
More visibility can take a great amount of pressure off in regards to communication and future inventory planning.
2. Automate Where It Counts
Incorporating automated components into a warehouse can offer a variety of benefits from decreasing operating costs to improving accuracy to increasing volume. Although it can be impactful, it might not make sense for every business.
To decide if automation is right for your company, talk with your planning teams, warehouse managers, and higher-ups. In that conversation, ask about the future and if their goals are possible under the current process.
If you decide to implement automation, ensure that all of the parts are maintained. Check-ins and inquiries should be a regular part of the transition process.
3. Create An Effective Project Plan
Making your supply chain more efficient, is an ongoing process. It is not as simple as making one change and then calling it a day. A comprehensive project plan is essential to work towards your defined objectives. A project plan can be a great guide within the supply chain management, especially when developing a distribution strategy, identifying risks and opportunities and facilitating cross-functional decision-making.
Once created, your project plan can serve as a reference for all future initiatives. When making a new investment consult your project plan to make sure that your decisions align with your supply chain goals.
Increasing and improving supply chain efficiency takes time and collaboration, but the payoff is worth the effort. Increasing visibility, making smart technology investments, and developing an effective project plan will help your company meet goals and objectives.