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Optimise Your Supply Chain With These Top Techniques
22 September 2018
Supply chain management is defined as the coordination of all business activities related to filling client orders
Supply chain management is defined as the coordination of all business activities related to filling client orders, starting from pre-production to the delivery of the product. Apart from producing quality outputs, optimising your supply chain is one of the most essential keys to secure profit. However, this procedure can be a pretty difficult endeavour for some manufacturers and distributors because of a number of risk factors such as changes in trade and capital policies, as well as currency volatility. If balanced properly, supply chain optimisation techniques can help companies reach their business objectives, cause significant reductions in operating costs and make smart decisions in complicated scenarios.
Supply chain model
If you're looking for a way to optimise your supply chain management system, consider improving the efficiency of these types of activities:
- Balancing supply and demand
- Sourcing raw materials
- Manufacturing, storing and delivering your product
- Dealing with possible product returns
- Handling feedback on customer service
In addition to these supply chain models, here we have compiled a few top techniques to easily help you achieve with the optimisation:
A brand strategy utilises optimisation solutions such as distribution centre (DC) network design or strategic sourcing which helps determine if a business has the right number of distribution centres, determine capacity and identify the best location. In addition to this, a strategic sourcing solution provides answers for specific items identified as critical to business objectives.
Since most buyers tend to award business to suppliers who use the lowest total landed cost, optimising sourcing decisions encourages them to make informed decisions. Moreover, this strategy helps to decide whether a product needs to move directly from a supplier or through a consolidation centre first to take advantage of reducing logistics cost.
Strategic and tactical optimisation are both parts of a continuous improvement process which is essential, especially since supply chains involve the continuous changes in demand, the introduction of new items into the system and the evolution of geographic locations.
Having an experimentation-based approach by continually thinking of new ideas on how to take your brand to the next level and evaluating optimal responses can determine which areas need to add flex capacity, as well as help evaluate the costs of recovery plans.
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