The last two years have stressed the importance of having full visibility into your supply chain. Along with that, demand planning technology has become a crucial component in every organization’s efforts to overcome supply challenges and adhere to finished goods delivery commitments.
Forecasting demand places the customer at the center of inventory planning.
Measuring supplier performance is one way to help you mitigate the risk of stockouts. Using
Suppliers can vary in their lead times, even delivering later than promised. Another common scenario is “short-shipping” – sending you less than what you ordered. Will it be enough to get you through until the rest of the order arrives? These variables, along with the ups and downs of customer demand, must be taken into account when calculating the amount of safety stock you are going to keep on hand.
Supplier performance data can be produced from within your Dynamics 365 for Distribution Software. The data is very useful as a basis for productive conversations with vendors that lead to improvement. Such questions and topics as, ‘How can I help you?’, ‘Here’s what I need’, and ‘How can we work together to make sure that this performance improves and the health of my inventory improves as a result of that?’ are good first steps to tighten up your supply chain.
Today’s businesses are also looking to optimize container shipments to mitigate skyrocketing shipping costs. Whether the shipment comes from overseas or is domestic, combining multiple orders, even from different suppliers, into a single shipping container provides significant cost savings – and presents receiving challenges as well.
Rather than receiving the product in the container by individual purchase order – which could potentially take a week or more – wouldn’t it be great if the process could be reduced down to one step: receiving the whole container?
- Streamline the entry of manifests and process the receipt of all items in the container from a single window
- Receive FOB (freight-on-board) receiving of goods before they arrive at your loading dock
- Track the purchase and receipt of inventory items at the container level, and the containers at the shipment level
- Get reliable and up-to-the-minute tracking for all shipments
There are solutions to the many supply chain challenges that have surfaced in recent years. With the help of technology, you can stay ahead of potential roadblocks and continue delivering products to your customers on time.
Learn more valuable tips and see more solutions in a recent discussion we’ve made available for you. In the video, you’ll learn how you can:
- Identify supplier trends through your data
- Optimize your orders to meet the demand
- Build accurate forecasts with predictive insights
- Model different demand plans to minimize future
By Netstock |