A kink in the supply chain cycle can cause a whole list of problems with inventory, customer service and cost efficiency. With such a fragile structure, it is important for a business to be aware of these main issues, and know how to avoid running into such problems.
- Lack of Visibility
How can you be sure of what you have? Many companies lose sight of their inventory because they do not have a Supply Chain Management system that provides good visibility. In many cases, companies are sitting on too much inventory, or have misplaced their inventory, resulting in the next issue of maintaining costs. With Apptricity Inventory, you can obtain a 360-degree view of inventory levels using multiple categories, including stock keeping unit (SKU), product type, barcode, manufacturer, supplier and facility.
- Reducing Costs
One of the main causes of cost containment issues in a supply chain cycle is excess or expired inventory. With an automated system as technologically advanced as Inventory, you will be able to monitor stock quantity, location, shelf-life and expiration information. In addition, real-time business intelligence through reporting is available on Inventory, allowing you to also keep track of trends and better manage your financial risk.
- Customer Service
Today, customers have much higher demands, if you don’t have the inventory they are looking for, they’ll find another who does have what they want. This requires an extremely organized Supply Chain system that allows for more reliable and faster delivery. It also requires a business to have accurate information on their available inventory. Often times, supply chain management issues stem from the challenge of balancing customer demands with cost containment. With accurate real-time reporting on the trends of your business and what you have in stock, you can easily meet your clients’ needs while eliminating excess costs.
An automated inventory solution such as Apptiricty Inventory, will eliminate the 3 main issues faced within the supply chain. For more information on our Supply Chain Solutions, go to: https://www.apptricity.com/solutions/supply-chain-management/