Developing an effective supply chain is an issue that various businesses face. Many of the difficulties show up in the shape of inventory optimization, demand forecasting, Inventory Tracking, communication, and so on. Some businesses manage their Supply Chain Operations with Supply Chain Management.
Supply Chain comprises various elements such as operations management, logistics, procurement management, etc. Having these elements integrated, businesses can successfully streamline the flow of products and services: from raw material to the final product, through the pipeline, and to the end client.
When a business is capable of designing, planning, implementing, executing, controlling, and monitoring supply chains via interlinked systems, they create value, boost their competitiveness, and get even more leverage.
Getting an intelligent supply chain can help tremendously. You can get insights into aspects you did not know existed. With such reports at hand, you will figure out how to shun unnecessary costs. Moreover, with an integrated software service such as Microsoft Dynamics, the entire organization is connected to one another. Therefore, communication becomes seamless.
You need intelligent supply chain management as your business needs to keep up with the following aspects:
Delivering Accurate Products and Services Whenever they are Needed
Many businesses might not realize but, product as a service adds up to the supply chain woes. These days, the traditional supply chain management alone is no longer responsible for manufacturing and delivering the product. Instead, it needs more coordination of parts going into products, conducting predictive maintenance, and updating software to products. To achieve this level of synchronicity, an organization needs instrumentation across a multifaceted dynamic network that usually spans the globe.
Balancing Between the Customer Service Level and Budgeting Requirements
Manufacturers face a tough time maintaining a balance between cost and services. Using a product as a service, one cannot calculate customer satisfaction effectively. It usually computes customer reports based on the number of products or services a company has sold instead of the actual performance of the same. Providing these services at any cost does not reflect their effectiveness. In addition, cutting costs by decreasing inventory can even cause some unexpected downtime and sometimes penalties. You must adopt a smart way to make a balance between customer service and budgeting requirements.
Enabling Tighter Upstream and Downstream
With a shorter product life cycle, speed and innovation are the key ingredients to thrive in the marketplace. Therefore, you need a faster and smarter collaboration across the value chain to innovate and to bring the latest market products and services to stay ahead in the competition while meeting your customer’s expectations.
The most exciting news among all these is that you can seek assistance from technologies like cloud computing, IoT, and AI, which offer real-time visibility while helping you attain these three imperatives.
An intelligent supply chain offers the following features that help your organization streamline the supply chain:
Integrated Business Planning
You can connect teams on a collaborative planning form providing real-time and transparent visibility into your business’s future and current states. You can align teams, initiatives, and strategies, use real-time data to adapt dynamically and plan effectively.
Organizations can make better decisions with real-time data of markets, demands, services, and products. Make an amalgamation. Analyze factors impacting your business from the outside such as data available in the public domain, weather, customer spending pattern, what is popular on social media, and so on. Such data amalgamating with your company’s data lets you validate your current strategies, figure out hidden performance drivers and get a 360-degree view of future demands.
Real-Time Tracking and Tracing
Product as a service produces various complexities. Therefore, it becomes even more essential to track and trace a product and services connected to it followed by its overall journey. Be it preventing counterfeit products from going to the customer, impeding fresh food from spoilage, or ensuring product safety by confirming maintenance.
Multi-Grade Inventory Optimization
You can even increase customer satisfaction and lower costs at the same time with automated demand modeling as-well-as inventory management throughout the supply chain. You can then analyze your current data intelligently, use advanced analytics and optimize inventory, and eventually boost service levels and working capital.
You can even integrate your systems with the vendor while accurately predicting fulfillment times, bringing products to the market faster, and perhaps offering more competitive pricing to the customer.
An intelligent Supply Chain Management fights supply chain woes while assisting with seamless operations. Offering unified supply chain management software, Microsoft Dynamics 365 accelerates time markets and resolves product quality issues, optimizes logistics and stock, and much more. If you are looking for a Microsoft Implementation Partner, contact Trident Information Systems.