4 Ways to Improve Supply Chain Efficiency
The legendary superhuman hero Batman is an unmatched intellectual. As an ode to his prowess and mental strength, on his special day, we’d like to imagine he’s a supply chain manager and how he would improve the supply chain efficiency of his organization.
The US economy is largely dependent on the smooth running of its supply chain networks. Since supply chain is a constantly evolving segment, companies need to rework strategies on a regular basis. With customer expectations on a steady rise, it is important that each part of the supply chain be thoroughly assessed and monitored to ensure the timely delivery of quality products to the market.
If Batman was a supply chain manager this is what he would do to increase the supply chain efficiency of his organization.
1. Assess the Current Status
The first step is to assess the current efficacy of the in-house supply chain process. It is also the best time to:
- Check if there is any need for new software implementations.
- Check if any new compliance regulation needs to be met.
- Review training materials and procedures.
2. Enable Supply Chain Visibility
Given his love and possession of extraordinary weapons and arsenal, it’s no doubt that Batman would love to speed up things with automation. Automation tools provide the benefit of speed, accuracy, and complete view of the internal and external supply chain network in real-time. It also includes tracking movement of components from suppliers to the company, the subcontracting activities, up to final delivery of products to retailers and warehouses.
- It enables timely checking of inventory status, efficient management of order quantities, planning for seasonal/future demands, and more.
- Real-time visibility can also be extended to other stakeholders such as suppliers, vendors, and customers to enhance the user experience, and stay connected with them.
3. Collaborate with Internal Teams
Batman likes to have complete control. So, collaboration across all internal teams and other multi-functional units will be implemented to keep people together and work towards a common goal.
- Software implementations need scheduled updates and plug-ins to keep up with new features and requirements of the market.
- Working in sync with the folks at IT department can help implement and manage new technologies that are released in the supply chain management field.
- Implementing automation tools also requires collaboration with the HR and training department, in order to train the in-house teams to work efficiently with new systems and tools.
4. Tie Up with Current Suppliers and Vendors
No one understands the need for strong partnerships than Batman!
It’s imperative to develop deep partnerships with your secondary network to achieve internal supply chain efficiency. Factors like information sharing, KPI tracking, and benefits sharing must be made clear in the beginning with subcontractors, retailers, suppliers, and vendors. This helps tackle challenges and inefficiencies that may crop up in external networks.
As a smart supply chain manager, Batman will pilot any new changes first to understand how it works on a small scale. Once the structure and strategy are formed, it’s all about motivating the teams to extrapolate the pilot programs on a company-wide basis.
It’s important to note that the right supply chain technology solution will allow you to do more with less, and bring about increased throughput in production output. And that’s exactly what Batman would do.
Are you taking the first steps in ERP? Looking to get the best out of your existing ERP?
Think and act like Batman!
Infoways is an Infor channel and implementation partner. We have hands-on experience in providing ERP solutions to many large and complex manufacturing companies. If you’d like to know how we can help you improve the overall efficiency of your supply chain network, get in touch with us today.