How to: build supply chain resilience ahead of 2023
Supply chains are getting cooler, well at least we think that they are. Up until a few years ago supply chains were necessary cost centres that didn’t do much more than fulfil the promise of delivering goods to a warehouse; but since the boom of e-commerce they are coming into their own and we are all pushing and looking for our supply chains to be more intelligent, digital and resilient.
On one hand supply chains have become easier to operate with constantly improving technology, globalisation and diversified consumer habits, but equally we face a more volatile economy, greater environmental hazards and material shortages.
By insisting on resilience with your supply chain you are supporting the team that operate your inventory and helping to build robust processes so your business can navigate the unexpected, smoothly.
At Prediko we like to look at problems with a solutions focused perspective so before you hit the ground running take a read through our top tips on building supply chain resilience.
By investing and implementing digital solutions into your supply chain you are apply to gain access to invaluable data that improves transparency, traceability and your power to react to changes. Although it can take time to educate teams to adopt these practices, everyone should consider this a form of invaluable future proofing that can greatly increase margins in the long term. Within the Prediko dashboard, you can have visibility on all your inventory, it’s health and recommendations for immediate ordering, all at one glance!
Communication is key
The first rule of all relationships is the importance of putting communication first. By insisting on clear communication and collaboration between suppliers, retailers and customers, you have the opportunity to reduce tensions between these forces. If communication is easy, you are able to raise potential issues earlier on, find solutions and accordingly adjust expectations.
The age of e-commerce
A rapid shift towards an e-commerce first sales approach has been an adjustment, the shipping of single units and the packaging required for this has increased economic risk and jeopardised margins. To combat this its important to be designing your products to fit with all routes of sale and adjust distribution channels to be suited.
Correct technology is one part of ensuring supply chain resilience but its also vital to have the right teams to support and manage these tools. Invest in making hires who are keen to try out new tools, curate and develop systems that make product acquisition easy, are attuned to potential problems and the solutions needed to weather them.
Before the pandemic we might have considered it easier to have fewer suppliers in fewer locations, but in fact that can leave businesses incredibly vulnerable when local shocks occur. An unforeseen environmental occurrence might paralyse your entire supply chain. By insisting on diversified locations you will have bought yourself time to source solutions if one branch of your supply chain has been temporarily put out of commission.
At Prediko, we look at the health of your supply chain overall, with forecasting, live lead times and a real time dashboard, you will be able to ensure resilience is being maintained at across the board. To discuss our features in more detail, please reach out from the website and we’ll be in touch!
without ripping your hair out ?