Simplify Supply Chain with Technology
Transforming Supply Chain with SMAC and IoT
Smart Infrastructure for Supply Chain Management
3 Guidelines for the Logistics Industry in the Age of Business...
High Tech Approach to Solve Complex Projects in Supply Chain
Maike Sievers, Director of Logistics Planning, Sales and Marketing, BLG Logistics
Is your Supply Chain Ready for a Transformation?
Darrell Edwards, SVP & Chief Supply Chain Officer, La-Z-Boy Incorporated [NYSE:LZB]
Freight Audit and Recovery: The Secret to a Smart Supply Chain
Scott McDevitt, President & CEO, Translogistics
Supply Chain is in Throes of Transformation
Richard Sherman, Senior Fellow, Supply Chain Centre of Excellence, TCS [NSE:TCS.NS]
Achieving Operational Efficiency in Supply Chain
The efficiency of the supply chain of an organization is its core standard of performance. This efficiency measures the ratio of work performed in a process and whether the process is using the best practices and making most of the available resources. The core focus of an effective supply chain will be the outcome and external standards. A well-built supply chain system can be the key to improve margins, drive positive consumer experiences, support expansion, and reduce operating costs. Analyzing and identifying the best strategy to move a product to its final destination requires optimizing order processing, outbound schedules, and reverse logistics techniques.
The selection of right prediction and contingency planning tools can ensure a comprehensive view and effective response to risks, including political upheaval, suppliers going out of business, and natural calamities affecting manufacturing. Organizations can then adjust pricing as well as promotion strategies to shape demand, move additional product quickly, drive revenue growth, or further expand margins for a high-demand product with limited market supply.
The key to successful logistics is to have the foresight to leverage opportunities and mitigate challenging events so that businesses not only survive but succeed. Furthermore, companies must deploy dynamic planning capabilities and continually fine-tune operations to ensure responsive agility to meet changing demands. The modern supply chain model insists for more continuous and dynamic adjustments to rapidly respond to changing market, minimizing or even eliminating shocks across the supply network.