How to Solve 10 Serious Supply Chain Challenges

Supply chain problem, Fishbowl BlogI recently found an article about supply chain concerns that, even though it was published a year ago, has a lot of lessons that apply to businesses as we move further into this exciting New Year. A British research firm asked 300 business leaders what their biggest supply chain concerns are, and these are what they came up with, starting with the most talked about.

All of these concerns can be resolved with a good supply chain management solution. I’ll show you what I mean:

1. Inventory Management and Planning

Inventory Management and Planning is much easier if you have detailed data and reports compiled from your sales and orders over a certain period of time.

2. Demand Management and Forecasting

Demand Management and Forecasting works much the same way. If you can see which locations sell the most products, you can plan ahead for seasonal trends and other changes in demand.

3. Supply Chain Network Optimization

A big part of Supply Chain Network Optimization happens when you keep track of which suppliers are the most dependable and which ones offer the best rates.

4. Supply Chain Segmentation

It’s rare to find a company that has just one supply chain. Supply Chain Segmentation is the process of separating your supply chains and recognizing that each one has distinct features. That way you can compare them and see which ones perform better than others.

5. Training and Development

Many organizations worry about the time it will take to train their staff on how to use new software and hardware, as well as when new features will be released. Some inventory management software providers offer extensive Training and Development programs, technical support, and year-round software updates in response to customer requests.

6. Supply Chain Risk Management

Sometimes supply chains break down. A shipment could get misplaced or a delivery truck could break down. By using inventory tracking software, you can be aware of these issues early on and engage in Supply Chain Risk Management quickly.

7. Sales and Operations Planning

This goes back to No. 2. If you know how many products are sold at each location, you can plan ahead for sales trends and optimize your Sales and Operations Planning.

8. Performance Improvements in Warehouses

A great thing about warehouse management software is it helps you maximize efficiency in your warehouse(s). Your most popular products can be placed close to the entrance, and products that are often ordered together can be stored next to each other. Plus, using barcodes and scanners enables your warehouse workers to get more done in a shorter amount of time. These and many other Performance Improvements in Warehouses are available with the right tools.

9. Material Purchase Price Reductions

Keeping a close eye on your suppliers allows you to shop around for the best deal on all of your materials and even find Material Purchase Price Reductions.

10. Green Supply Chains

By using supply chain management software, you can have more Green Supply Chains and cut down on the amount of products and resources you purchase that go to waste. You can also improve your supply chains to make sure you’re not placing too many orders, leading to unnecessary fuel usage.

About Robert Lockard

Robert Lockard is a copywriter with Fishbowl. He writes for several blogs about inventory management, manufacturing, QuickBooks and small business. Fishbowl Inventory is the #1-requested inventory management software for QuickBooks users. Robert enjoys running, reading, writing, spending time with his wife and children, and watching movies. His favorite movies include Mr. Smith Goes to Washington, Fiddler on the Roof, Back to the Future and Lawrence of Arabia.
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1 Response to How to Solve 10 Serious Supply Chain Challenges

  1. John Abraham says:

    Supply chain management is critical to any organization success and skilled expertise is required to handle the same. Companies need to optimize their supply chain delivery models, demonstrate total supply chain costs lower than the competition etc. in order to effectively manage their supply chains. Global4PL helps businesses in achieving top in line supply chain strategies.

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