Top 3 Benefits of Supply Chain Management
Today, let me take you through the reasons to look out for an ERP Solution that takes care of your entire businesses supply chain management needs. We obviously know that the ultimate goal of an efficient supply chain management tread towards reducing the inventory costs of your organization. And if your organization has been dwelling hard to track goods consumption and product’s availability as and when required, this article will walk you through the top 3 benefits of supply chain management that will double your business.
Let’s see how!
You want your software to keep an eye on the flow of product, information, and finance? The main aim of supply chain management is to enhance trust factor and collaboration amongst the supply chain partners involving planning, execution, monitoring and control of supply activities.
Here’s what supply chain management does for you! It keeps a track of all the steps of product movement from supplier to manufacturer, retailer and consumer.
- Worried about the sluggish product, material and information flow?
Let’s get this clear – The less time it takes for goods to reach end customer, the more efficient the product flow.
There are various critical aspects like quality of the materials that reach customers, the balance between supply and demand, shipment costs and inventories. And an effective supply chain management makes sure that there is an improved product flow through accurate demand and sales forecasting. That way you can enable working strategies to accelerate and optimize business speed while ensuring a high level of product quality.
Looking out for real-time response and instant access to related supply chain content? For this, information must flow uninterruptedly!
We certainly don’t want insufficient information flow, or information passed on intermittently due to a fragmented supply chain.
According to a leading research done by Oracle, 1.2 billion £ are spent over the fragmented supply chain.
All you need is an effective supply chain management to remove the bottlenecks of supply chain information flow. So, get your SCM integrated with manufacturing ERP today and avoid missing opportunities and possible risks.
- How do I get Real-time Supply Chain for manufacturing ERP?
How about seeing sales data in real-time? ERP trends enable the real-time supply chain for greater visibility. You can instantly act on the information you receive much faster. Take for instance, if you observe that the sales numbers for a particular product are declining, you could possibly act at the right time and right way.
Besides, the real-time supply chain produced by an ERP software allows you to manage risks much better. How? Say for an instance your immediate supplier fails to meet your demand order. Your ERP system is capable of suggesting an alternate supplier of your choice. Thus, you save on to both time and money!
Organizations with digital supply chains gain advantages. Digitization improves forecasting accuracy through faster data statistical analysis. When reliable data is available, the time required to prepare a production plan is considerably reduced. In a digital world, orders can be received from multiple channels and processed automatically, based on complete inventory visibility.
Achieve greater efficiency and make the best business decision with an in-built real-time supply chain with an ERP system. Primarily an ERP software offers a macro perspective into a company by the way of integrating cross serviceable functionalities such as procurement, inventory, finance, and distribution.
- Competitive benefits of ERP in Supply Chain Management
Disruptions occur for multiple reasons, and the nature of their impacts vary. Whereas, a labor union problem can be anticipated, a terrorist attack is un-imagined. While a fire in a factory can put a stop to the operations, the outbreak of an epidemic may have consequences which take more time to set in. Companies with resilient supply chains, and those that take proactive risk-mitigating steps are able to anticipate issues more effectively than their peers, and minimize the negative impact.
An ERP software boosts the effective demand forecasting and lean inventory and makes sure that the cost of inventory is minimized during large-batch production processes. This considerably eases the bottlenecks between internal business processes and external suppliers by handling proper procurement and supply of the goods and services needed across the supply chain.
Thereby the business executives make more informed decisions with ERP for supply chain by augmenting efficiency across different departments and key stakeholders consisting of suppliers and partners.
Top 3 Benefits of Supply Chain Management