As the business environment continues to evolve, supply chain managers must keep a watchful eye on efficiency strategies when moving their product from suppliers’ hands to theirs. Data and automation are two important tools that can help improve supply chain management and ensure that customer expectations are met quickly and consistently.
Here are 3 data and automation tips for improving supply chain management:
- Improve demand forecasts
Is your company adept at tracking every component of your product as it moves along the supply chain? This practice is referred to as supply chain visibility, and your company should become proficient at it. Improving supply chain visibility helps to better forecast demand and inventory and can lead to great improvements in efficiency along your supply chain. For example, giving your suppliers the ability to check your inventory in real-time helps them understand the current situation and plan ahead to fulfill future demand. You can extend this capability to colleagues and even customers, which improves collaboration as well as planning.
- Leverage robotics
Implementing automated components into a warehouse — or partnering with your suppliers to do so — can increase efficiency in a measurable, impactful way. The use of robotics often comes into play here. If you think robotics might be right for your company, perform your due diligence internally and consult with a specialized professional. They can help you determine if your business goals are possible using the current process. If not, they’ll walk you through the transition process.
- Automate and optimize inventory management
Real-time inventory management helps business owners make better decisions. An automated inventory management system can help you evaluate a wide range of data including orders, damage, spoilage and customer reviews. New technology, cloud-based services, and the increasing digitization of the supply chain has made real-time inventory management possible and is a key to optimization.
Clark Schaefer Hackett’s technology team can help you leverage data and automation strategies to optimize your supply chain. To learn more, contact us today.
