How to Advance Your Company’s Supply Chain

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By BizBritain

over 1 year ago

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An efficient and effective supply chain will help your company save money, while providing a stellar service for your customers. Ensuring you’re working with reputable suppliers, incorporating tried and tested methods, using the latest technology and efficient procedures, will help your business save time and money. You can then focus on growing your company.

To increase the performance of your company’s supply chain, consider the following advice.

Supply chain

Find and Keep Trusted Suppliers

You may already have reputable suppliers who work to deadlines, provide faultless services, and keep your inventory turning; however, there are some companies who hire unreliable suppliers because they’re cheap, local, or have been employed for a lengthy amount of time. If you’re the latter, then it’s time for you to review the situation.

You want a supplier who can meet targets and work to deadlines. They should also be friendly and easy to communicate with. To cut down on costs, look for a supplier who can offer complementing services. For example, MES International supplies products for the mining, quarrying and recycling industries; they offer specialist products, engineering services, and advice across three different industries, as well as operations in the UK, they extend their services overseas through the Middle East and Africa. Therefore, if you need quarry crushing supplies South Africa, but also need specialist products delivered in the UK, MES can help with both.

Review your existing suppliers. If they are underperforming, then air your grievances and look for an alternative if they fail to improve. Don’t be afraid to cut ties.

Improve Communication

Sometimes, poor communication creates issues in working relationships. If your supply chain is faltering, and you don’t correctly consult with your supplier, then it can further harm your business. Additionally, if you let problems slide, then your supplier may not be aware of the issues.
Make sure your supply manager and suppliers have open communication channels. Also ensure you schedule regular meetings to consider improvements, raise any problems, charter solutions, and thank them for their services.

Bring in Better Technology

E-commerce can greatly improve your company’s profits, as well as better your employee’s productivity. These supplier portals allow you and your supplier to view stock and inventory in real-time; they also provide notifications, easy and instant communication, and forecasts for products which are expected to become popular. However, be aware so as not to over complicate your business with too many technology platforms. Keep your supply chain efficient, but simple.
This ease of managing information means that not only will your employees and supply manager be able to keep tabs on the company’s products more easily, but the supplier will also be able to see what’s happening.

Thank Them

Companies may forget that suppliers are not only providing them with a service, but that suppliers are also running a business; you should remember that suppliers do not work for you, and if you’re a company giving them trouble, then they may not stick around for long. Make sure to show them your appreciation; say thanks every time they make a delivery, and acknowledge that their services are central to your business.

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