The emergence of numerous technological breakthroughs in the supply-chain industry, including cloud-based management, is changing the way companies do business. To stay competitive, companies must adapt to these changes and embrace innovation, writes Karsten Horn, international sales director at INFORM's inventory and supply-chain division. Managing an efficient supply chain isn’t going to get any easier, rather, it is going to become even more challenging. Looking globally for the highest quality products at the most reasonable prices can introduce new logistical, regulatory, and multi-currency challenges. Adding to a long list of suppliers and vendors, as well as to the number of raw materials or products received from them, creates more data to collect, monitor, and occasionally share with customers. In “The future of the supply chain,” posted on SuppyChainDigital.com by Karsten Horn of INFORM, these and other challenges puts the pressure on businesses to figure out how to harness innovative supply chain technology as a competitive advantage or they risk getting left in the dust.As Horn indicated in the article, the business world is changing and so is how we manage our supply chains. Learning about available technology and how to leverage it to our advantage is becoming increasingly important. Horn discusses how cloud technology can be one of the biggest advances in business technology. Entering and analyzing supply chain data using smartphones, tablets, and laptops from anywhere and at any time provides supply chain executives with immediate access to real-time data. Monitoring inventory levels, customer orders, procurement schedules, and other supply chain data improves our ability to make swift, accurate decisions, as well as respond faster to changing customer orders. Sometimes getting a new view of your supply chain can inspire ways to streamline operations. Technology that promotes inventory optimization offers a “bird’s eye view” of your supply chain network. Horn suggests how looking at your entire inventory, instead of individual warehouses, can save money by operating with leaner inventory instead of maintaining needlessly high buffer inventory. You may find additional cost savings by evaluating where you store inventory, in relation to customer locations. Inventory optimization solutions can provide the insight you need to maintain lean inventory levels and cut transportation and shipping costs.The supply chain is evolving and innovative supply chain technologies are important to keeping your business ahead of the competition. Start your way to a successful supply chain by contacting Perimeter Business Solutions: https://www.perimeterbsi.com/contact/. Perimeter Business Solutions can provide the guidance and support you need to implement the innovative supply chain solutions that will give you a competitive edge.By Mark D. Kosakowski of Perimeter Business Solutions, Georgia Microsoft Dynamics GP Partner
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.