If there is one thing that many of us have learned through this COVID era, it is how difficult the supply chain can be. The worldwide supply chain has been turned upside down; it is appropriate to ask if a supply chain can be both efficient and responsive?
Yes, a supply chain can and should be both efficient and responsive. A supply chain can be efficient by making optimal use of its resources while at the same time remaining responsive to market forces and customer demands.
The goal of supply chain management should be to have supply chain processes in place that is both efficient and responsive.
An Efficient and Responsive Supply Chain
To not just survive but for a company to thrive in today’s world, a supply chain should be both efficient and responsive. This is because the world is changing so fast; simultaneously, there are so many things that can happen within the supply chain.
Things as rising shipment costs, unexpected delays or materials costs that sky rocket out of control; this is why companies should aim to have both efficient and responsive supply chains. Time and time again, successful and profitable companies have proven that you can have both efficient and responsive supply chains.
Successful companies have set up all their supply chain systems and processes to ensure their supply chains remain both efficient and responsive. Successful companies also understand what it means to be both efficient and responsive with their supply chain management.
An Efficient Supply Chain
An efficient supply chain ensures the optimum use of the company’s resources, including financial, human, technological, and physical. The successful company will optimize all of these resources in its supply chain to help reduce operational costs.
Efficiency in a supply chain is critical; inefficiency can drive operational costs up and drive profits down. The efficiency in a supply chain will directly affect the financial success of a company.
An efficient supply chain management system will meet or exceed the demands of customers, partners, suppliers, vendors, and stakeholders. In other words, when everyone in the supply chain is working efficiently, the supply chain is running smoothly without any major hiccups or problems.
This is because the efficiency of a supply chain also has to do a lot with the processes that a company has in place.
Here are 5 things a company can do to ensure its supply chain is efficient:
Find and Use Dependable Suppliers
One of the most important things a company can do is to find and use dependable suppliers. Cost should not be the only factor but added values as dependability and reliability.
Also, smart supply chain management would work to build up dependable suppliers and ensure they have an added value in your entire supply chain.
Develop Your Employees
Human capital is still one of the most important capitals in the world. Companies that invest in training, teaching, and developing the right employees will find their supply chains efficiency improves.
A company can do on-the-job training, mentoring, coaching, and help employees see and understand the entire process. After all, it may be important for someone in a warehouse to really understand sales and why efficiency and quality are important.
Constantly Improve Your Supply Chain
The supply chain should be something you constantly improve. Look at areas you are weak in and what you need to do to improve them.
Find ways to improve and innovate to lower costs, deliver products at a higher quality and give excellent customer service. Your supply chain should be a process that is constantly evolving.
Use New Technologies
There is so much great technology out there; sometimes, the new technology can make your head spin. The efficiency-based supply chain is always looking at these new technologies and how they can help the overall supply chain.
Using the right technologies properly can help you to eliminate careless mistakes and speed up not only your entire supply chain but also help you to be able to make more efficient and better decisions.
The right technologies can help a company gain a competitive edge.
Keep Track of Everything
An efficient supply chain will keep track of everything. It is important to keep track of stock and keep track of any issues that may arise.
Keeping track of issues can help you find and deal with problems before they become a huge problem or issue. An efficient supply chain will look at the entire process while keeping track of all kinds of data.
An Responsive Supply Chain
A responsive supply chain is a sensitive supply chain that can keep up with customer requirements. A responsive supply chain will respond quickly to what customers want and require.
We are constantly creating, developing, and manufacturing new products in the home decor and home furnishing industry. Having a responsive supply chain is about pivoting your designs and trends as the market changes.
A responsive supply chain can pivot or change to market forces, customer demands, and other issues. During this era of COVID, we have all seen how important it is for supply chains to pivot and change. M
Many companies cannot pivot or change what customers really want. Amazon started as an online bookseller while Barnes and Noble built brick-and-mortar stores.
Now Amazon is much larger than Barnes and Nobles as Barnes and Nobles did not fully pivot to understand that online retail would one day become huge, as would downloading of books and other media.
It is this ability to pivot and change while at the same time giving the same efficient service to a customer that is really at the core of having a supply chain that is both efficient and responsive. If you have an efficient and responsive supply chain in place, you can build upon the processes you already have to keep your efficiency high even during times of change.
At Mondoro, we create, develop and manufacture home decor and home furnishing products. We would love to become a valued member of your supply chain.
If you are interested in finding out more about how Mondoro can help you create, develop, and manufacture great home decor and home furniture products, don’t hesitate to contact me, Anita. Check out my email by clicking here or become a part of our community and join our newsletter by clicking here.
26 Supply Chain and Other Jokes – Laughing Out Loud (LOL)!
Today humor is needed, especially as the supply chain has been turned upside down with COVID lockdowns, out-of-control shipping costs, and container vessels that never leave port. I hope these jokes will bring a smile to your face and help you laugh out loud.
You can read more to laugh out loud by reading 26 Supply Chain and Other Jokes – Laughing Out Loud (LOL)! by clicking here.
How Do You Load A Dry Shipping Container?
A dry shipping container is a container that is used for 90% of all shipments worldwide. The dry shipping containers’ standard sizes are 20’, 40’, and 40’ HC container sizes. Each size has different payload weights and loading size limits, so when you prepare to load your container, what container size you choose will make a huge difference in the actual container loading.
To find out more about loading a dry shipping container, you can read our blog on 10 Tips On Loading A Dry Shipping Container, What You Need To Know by clicking here.