In this article, we’ll look at some of the best supply chain KPIs and some tips on how to improve these metrics. These are quantifiable measurements used to determine supply chain performance and efficiency, whether it’s meeting set goals and objectives.
Digital B2B eCommerce, while extraordinary, triggered the scope of the supply chain problem. Buyers purchase more online. This frictionless purchasing path has driven demand at a time when supply chains are fragile. Companies react to shortages by stockpiling supplies, exacerbating the misaligned inventory. These supply chain challenges are further aggravated by worker shortages found in every vertical segment.
While blockchain technology is still in its infancy, particularly in logistics operations, its promise for the sector cannot be questioned. It can transform every aspect of logistics, from inventory management to transportation tracking. By utilizing blockchain technology for data authentication, the entire supply chain can contribute and authenticate data with the confidence that it will not be tampered with. We will examine several ways that blockchain technology can assist the supply chain in today’s blog.
New technology such as artificial intelligence (AI) has impacted most industries and logistics is no exception. The advancement of AI has transformed the world of logistics. Among the most notable breakthroughs made possible by this technology are warehouse automation, self-driving vehicles, predictive analytics, and intelligent highways. This robust technology enables the automation and simplification of multiple operations, enabling businesses to save time and money.
Manufacturers can avoid risks and potentially save money through proactive supply chain risk management. Manufacturers who manage supply chain risks proactively spend nearly 50% less on managing supplier disruptions than those who are not aggressive. Here are some strategies for effectively mitigating risks and safeguarding your supply chain over the long term.
Supply chain risk management is more than an added benefit to your operations; it is critical to your business in the event of natural disasters, unpaid accounts, or transportation disruptions. The objective of risk management is to avert problems and mitigate losses in the case of a risk event. Whether you lack a risk management system, have an inadequate risk management system, or have a limited risk management system, here is all you need to know about Supply Chain Risk Management, its benefits, and how it will transform your business for the better.
Many logistics businesses struggle to increase logistical sales while also streamlining their sales process. Use these six strategies in this blog to sell more in less time, empower your sales force, and create a positive customer experience for both potential and existing customers.
SCM (supply chain management) is critical to the entire business ecosystem. Almost every business uses a supply chain in some form, from procurement to manufacturing, retail to delivery. To stay healthy and competitive, this complex business environment requires constant management and attention. As a supply chain becomes more interconnected, it becomes more complicated, making manual handling impossible and prone to errors. Understand well-known benefits of robust supply chain management
Bonded warehousing provides a secure environment for the storage of goods subject to import duty and VAT, commonly referred to as bonded goods. Customs and other taxes may be deferred until the imported goods are ready to be sold. Maintaining inventory in a bonded warehouse has a number of benefits for businesses that import or export items subject to taxes and duties.
It is critical for your inventory management and overall business strategy that you have a well-organized supply chain. By minimizing the waiting time for in-demand products, an effective supply chain can help your company save money while simultaneously improving customer satisfaction. It, in short, provides you with a significant competitive advantage over other businesses in your field. However, an inefficient supply chain can be a significant drain on your resources, making it critical to properly manage your supply chain to make it as lean and cost-effective as possible
Stockarea offers end-to-end supply chain services such as Warehousing, Freight Forwarding, Customs Clearance, and Transportation, acting as your logistics backbone. Let us take care of your complex supply chain so that you can focus on your core business.
