With spring in the air, it’s the perfect time to reevaluate the state of your business and review outdated supply chain operations technologies. Why? Chances are your supply chain has become increasingly complicated over the last year – whether through a change in sales strategies, the introduction of new partners, a busy holiday season or any other major company event. This sprawling complexity has the potential to increase the risk for disruption and for opportunities to fail. As a result, the need for management to re-align and execute a well-thought-out plan is greater now than ever.
In this Spring Cleaning series of blogs, we’re going to give you a few tips and strategies to help your company “clean house” and provide clear direction on how to achieve greater end-to-end supply chain visibility, drive operational efficiencies, and increase customer loyalty that will enable growth for years to come.
1. Benchmark Your Business
When was the last time you really took an in-depth look at business and supply chain operation performance? Since you last did an analysis, have sales volume or product mix increased? Have you expanded into new regions? Do you have more partners on board? Chances are that the technology and supply chain tools you started with need to undergo advancements to gain the potential to help you better manage the complexity challenge. To make the right decisions, however, you need to do an honest self-assessment on where the business is today and where you need to scale for future growth.
Benchmarking is an essential tool that drives continuous improvement of business processes, ensuring that your company is also at its top competitive performance. It also enables departments company-wide to communicate effectively with each other to reach common goals. Keeping on track with goals is the top priority for all business leaders and benchmarking is the best way to ensure that you understand every aspect of your business from end to end.
2. Make Manual Processes a Thing of the Past
Manual processes are integrated into many company’s systems. Because the increased demand of business transactions are speeding up production, for many, manual processes are holding them back from reaching their full, economic potential. Spending time on tactical activities like manually reviewing and inputting data, maintaining spreadsheets, communicating data to trading partners and more can be a huge time suck, not to mention a process ripe for human error.
Adopting technologies that can automate these functions is not as expensive as you may think. A cloud-based technology approach, for example, has the benefit of lower upfront investment because there is no need for expensive software licenses, new hardware or overly-involved deployments.. Cloud solutions can also be implemented faster and with less business disruption because fewer internal IT resources are needed and solutions can complement existing systems, such as an ERP.