Anyone who has started or “grown up,” as it were, within a small business can affirm that the urge to manage every component of a supply or fulfillment chain is a compelling one. There often seems to be an illusion that maximum control equals maximum profits, and it’s a difficult notion to shake. Mature, steady-growth companies tell a different story, however— one where a pinch of laissez-faire in vendor management best practices and flexibility in their warehousing, resource and logistics operations brings results.
A sustainable supply chain is one of the most critical aspirations for any business that hopes to achieve long-term success—impacting not just sourcing and fulfillment, but how customers perceive a brand as well. As a result, supply chain managers are continuously searching for effective strategies they can adopt to improve both the efficiency and sustainability of their supply chains.
How dependable are the vendors in your current or considered ERP setup? How about the ERP setup itself? Modern business is too competitive and moves too quickly to guess at efficiency quotas. Success is measured in fulfillment percentages and fast implementation of backup plans when an industry-level crisis threatens to knock both you and your competitor back to square one.
Overlooking the subtleties of your company's risk management data can become the most costly mistake in your portfolio. Beyond crisis-management numbers applied during severe problems, the information you're likely already gathering for risk management has undeniable power throughout operations.
It has the power to support efficiency, open new doors for supply chain possibilities and become a tool in developing vendor management best practices— provided it's leveraged correctly.
When you’re in charge of ensuring the efficiency of your company’s operations, you have high expectations for your supply chain. You insist on offering your customers only the highest quality products and services. You also maintain a high level of security and confidentiality whenever you handle or store your customers' personal information. You know this is essential to success. But, you also use third party service providers for some of your business processes, and you need to know that these outside service providers are also meeting your company's high standards.
For a modern supply chain, it isn't enough to simply do— moving things from point A to point B is barely enough to keep a company's head above water in an ever-more-complex marketplace. Top-down views, end-to-end connection and predictive over reactive approaches rule the day and push businesses into the future. The vendor management software selected for a given workflow must not only take these needs into account, it must have the ability to scale and expand as new challenges arise.
If your business relies on one or more vendors to supply you with products or services, you’re probably sharing data with these partners in order to facilitate an effective relationship. However, any time data changes hands, security is always a concern.
If data is intercepted by someone outside of the connection, your business could face a number of problems— damage to your reputation, liability concerns and more. In order to prevent data breaches and protect your company from these problems, you must put measures in place to keep all of your data as secure as possible, both inside and outside of the corporate network.
If you needed to know the status of one of your vendor accounts right now, how long would it take you to find it? How many steps would be involved in finding your answer? If your path to vendor information and coordination feels difficult or complicated, chances are your company is due for a vendor management software upgrade—one that's more in line with your workflow.
Here are a few tips to ensure you make the right provider choice— both for the present state of your business and for growth in the future.
From the very beginning of business itself, the need for an owner or manager to get a bird's eye view on operations has driven innovation. New methods of production, operation and fulfillment mean that an elevated platform over the factory floor won't cut it anymore, and digital solutions are cropping up as quickly as the issues they mitigate. Vendor management best practices, end-to-end connectivity and a supply chain willing to grow and change with the times have become the earmarks of a successful modern business.
Your beauty and cosmetic products help your customers look and feel their best from the first moment they open a package. The look of that package (has it been crushed and bent during transport or are the corners still crisp and undamaged?) can impact your customers’ perception of your brand as well— sometimes just as strongly as the products it contains.
Without the right logistics solutions in place, you run the risk of negatively affecting that perception, even if everything about your product itself is stellar. To ensure that you have a logistics and fulfillment team you can trust, consider these three while examining your current or considered logistics setup: