Manual Guide to Supply Chain Management

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  1. Supply-chain management
  2. Bestselling Series
  3. What is Supply Chain Management? Definition, Example & Objectives!
  4. 10 Supply Chain Management Best Practices for Retailers - Vend Retail Blog

Inbuilt messaging allows user to contact suppliers to discuss purchase orders and other supply chain concerns. Using portals, all parties may have access to production progress, order forecasts, product specifications, purchase orders, shipment history, schedules and more. Collaborating directly on certain documents eliminates the need for continuous emailing back and forth to get the right information and the errors commonly associated with this form of communication.

Collaboration portals support full supply chain visibility, allowing both companies and their suppliers to stay up-to-date. Data theft can cause you to lose your position in the market as well as damage your relationships with suppliers.

Supply-chain management

For instance, if your demand forecasts were stolen, your competitors would then have insight into the interests and preferences of your customers. This would enable other companies more effectively to sell to your market, reducing your profit. If financial data is stolen, you may lose the trust of the parties affected such as consumers or business partners. In order to prevent these security failures, implementing defensive tools is a must.

Most vendors today offer security assurances to let their clients know what efforts have been made to safeguard their information. These might include avoiding third-party vendors with low security standards, forbidding backdoor creation, aggressive patch management and response procedures in the case of a breach. There are also security measures your company can take in order to further protect your data. For example, dashboard reporting can be restricted based on the user to ensure only approved personnel have access to certain company data.

Many solutions also allow a system administrator to set file permissions. Further, you can integrate biometric devices to provide further accountability. In order to achieve a complete supply chain management solution, you need to have some sort of transportation management. Transportation and logistics tools help users manage the movement of inventory and materials from one location to the next. With an SCM solution equipped with transportation management, users can plan multi-stop trips, consolidate shipments to maximize space and plan for less than load LTL shipping.

In addition to planning transportation, these tools help users address issues as they arise. Through inventory tracking, individuals can see when inventory is slowing down and intervene to find the cause. There are also collaborative tools within transportation modules which enable all supply chain players to manage the shipping process. Consumers, now more than ever, want their products to be well-made, safe and ethical.

For instance, some solutions allow users to closely inspect suppliers to ensure minerals obtained are conflict-free. Auditing tools make it easier for your business to remain transparent during third-party investigations. These tools may collect and store data related to relevant policies and regulations. Think about how these supply chain management tools could empower your operations in the digital age.

If you need help getting started, be sure to check out our supply chain management requirements template. Use it to create a checklist of features you can send to stakeholders for feedback. Careful consideration of your business needs among all parties will ensure you get the right tools to support your operations. What SCM tool is most critical to your business operations? Let us know by leaving a comment below! Hi Ranjani! We just posted our SCM Trends of article to our blog. I also think its important to network in supply chain management so you may stay on top the latest trends such as Council of Supply Chain Management Professionals.

Great checklist shared. Mobile Device Management Solution can be added to this, as one of the important tools to manage and secure mobile devices deployed by supply chain management enterprises. Maybe do a review on them. Thank you for the response! I work for a large domestic brewery, and we utilize cold chain.

We currently determine whether we ship dry vs. Thank you in advance for any suggestions! Thanks for the reply, Harrison! Our Community Managers can help guide you to a solution that should fit your requirements. One of the most important things that can be done to ensure that the supply chain is operating as best as possible is to train staff in all aspects of the supply chain. The more they know, the better the customer experience. Too many retailers buy first and hope to figure things out later. They structure their workflows and processes around new technology instead of the other way around.

Successful supply chains review processes that are producing below standard to determine areas where technology can help improve. Do you need to streamline your inventory? Or should you be focusing on software to help integrate payments? This will help produce detailed reporting data in more accessible and accurate ways, which better informs the supply chain council on performance and strategic planning going forward. Arm your business with a retail management system that lets you stay on top of sales, inventory, and reporting from one platform. Having all the tools and insights you need not only enables you to manage your supply chain, but it helps you run a healthier retail business in general.

In order to succeed in retail, you have to have successful relationships with your suppliers.

Bestselling Series

The most successful relationships have two-way communication, with shared objectives to continue improvement and value, measure performance, and implement a platform for conflict resolution. In an article for Industry Week , J. That all results in a better experience for the customer. Inventory is literally money on your shelves, and inventory carrying costs are a large part of that total cost. If possible, work with your suppliers to place more emphasis on demand planning and forecasting as another way to ensure optimal amounts of inventory. Not only will this help avoid process bottlenecks and streamline operations, but it also cuts down on the risk of theft and fraud.

When it comes to risk mitigation , the key is collaboration with your suppliers. It starts with choosing financially strong, competent suppliers that you know you can depend on. Stay Compliant With Sage. Essential Reading. The UAE is ranked as the third-best logistics centre [1] amongst emerging countries, behind China and India, thanks in part to the outstanding quality of infrastructure and transport.

But what do we mean by logistics? And how is the art of logistics management relevant to your business? Logistics describes the practical management of every process involved in bringing a product to consumers.

Everything from sourcing raw materials to end distribution. Although terms such as supply chain management and inventory management are often used interchangeably, logistics management encompasses them both. It is the glue that holds everything together. Supply Chain Management SCM is the process of organising everyone in the supply chain — running from macro decisions, like who is supplying what to whom, to granular issues such as coordinating border tax payments. The chain runs end to end, starting with raw materials, terminating with consumer distribution.

Each link in the chain must be reached before moving to the next one. Take a lemonade stand as a simple example. First, you need materials — lemons, sugars and cups. These need to come from somewhere, in this case, a store supplier A. Then the materials need to be converted into product. The lemons and sugar must go to a manufacturer.

This is supplier B.

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Once the product has been made, this has to go to distribution — the lemonade stand. How much lemonade is usually sold at each stand on a Wednesday? Is hot weather due next week? To fulfil that anticipated demand, you need to ensure enough materials lemons, sugar and cups have been bought.

If one store can't achieve that, another supplier will need to be found. You'll also need to ensure the manufacturer has enough capacity to make that lemonade. Supply Chain Management SCM is the art of bringing all those factors into harmony, making proactive efforts to maximise efficiency along the way.

There are five aspects of SCM [3] :. Effective supply chain management will examine each of these areas and see how they can be made more efficient. Can manufacture be located closer to raw materials to minimise transport distance? Would multiple warehouses be able to respond to changing customer demand better than a central warehouse? Within the broader issues mentioned above, are more granular logistics considerations. To give you a few examples, some essential supply chain management terms you should be familiar with are:.

How does supply chain management link to inventory management?

  • Power of Three.
  • 2. Order Processing Tools.
  • Logistics and Supply Chain Management;
  • Effective inventory management is essential to effective supply chain management. Simply put, everything else in your supply chain follows from your inventory. The best way to anticipate demand is to evaluate what happened in a similar situation in the past.

    What is Supply Chain Management? Definition, Example & Objectives!

    All this data is contained in your inventory records — if your business is fastidious about keeping detailed inventory logs. Inventory management software — like our own Inventory Advisor — helps you keep those fastidious records, and to data-driven supply chain decisions.

    Module 1: What is Supply Chain Management? (ASU-WPC-SCM) - ASU's W. P. Carey School

    It will automatically tell you what you have too little of — and when the best time to re-supply is, based on previous data — and what you have too much of; preventing you from unnecessary orders. To do this, it depends on keeping a perpetual inventory system — impossible to maintain without the right software.

    10 Supply Chain Management Best Practices for Retailers - Vend Retail Blog

    Simply put, a perpetual inventory system keeps a permanent ledger of all inventory. It is continually updated to reflect what items are in stock, what has been sold, and the value of both. Periodic inventory log when items have been procured. What has been sold is derived from the difference between current stock — discovered in periodic physical inventory checks — and acquired stock. The difference between an inventory management system and a warehouse management system.

    Many people get confused between inventory management systems and warehouse management systems WMS.