Running a small business from home is the new normal. While many people assume this arrangement is easy, there are still things you need to prepare for – especially in supply chain management. Your remote working capabilities need to be optimised. Only diligent management strategies will suffice. Take the unstable economy into account and how much your extra efforts will bolster your chances of success. So, what type of things should you keep in mind here? We have provided some suggestions to help.
Technology plays a big role in almost every industry in today’s modern society, so it is vital that businesses keep up to date with the latest technology and trends to be able to compete at the highest level. Enterprise resource planning (also known as ERP) is a system that helps businesses run. Adapting to new technology can take time, and a lot of the workforce might be reluctant to take it on board. However, quality ERP systems can help bring a business to the next level.
Inventory management is much more than getting products into customers' hands. It's about the whole "journey" a product makes from supplier to manufacturer to wholesaler to retailer to consumer. It also contains the actual entities that handle the product and any data that goes along with it. These are the order status information, payment schedules, ownership titles and more. As you might imagine or already know, an efficient supply chain helps a business save money.
Loading bays are essential for facilities movement of goods. It is what allows their goods to reach their customers, ultimately creating revenue for the company. While loading bays are critical to enabling profits, they can also incur high energy costs.
In the past 18 months, UK businesses have faced unprecedented supply chain challenges. First came COVID-19, then Brexit, closely followed by container shortages and now an ongoing lack of over-priced raw materials. Each issue has had a negative effect on stock availability, leading to unhappy customers and super-stressed operational teams. Whilst there is no ‘silver bullet’ solution, this article offers ten ways your business can help deal with stock availability challenges during times of shortage.
Sam Tyagi, CEO of technology start up, KlearNow, talks to IoSCM about why NOW is the time to embrace digitisation across the import export sector.
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