Implementing a new SCM system for your enterprise? Congrats on staying innovative and up-to-date in your industry! But, just because you got the tools doesn’t mean you got the skills!
If you are one of many enterprises implementing an SCM system in industries such as food, manufacturing or other fields the benefits of your asset management solution are endless. Supply chain management is a crucial component of organizing the processes for your company.
How can you maximize and get the most bang for your buck with SCM software? Read the top four tips below to get the ultimate results, and advance your organization to maximum performance.
#1 Capitalize on Your Data Using an Asset Management Solution
Forrester reports that “between 60% and 73% of all data within an enterprise goes unused for analytics.” Tracking inventory, shipments, raw material, or other assets, with this amount of idle data is detrimental for any company. Consider the revenue you could generate with just 14% of that information.
For instance, say you are tracking inventory for your cold supply chain. You have an order of 1400 units of milk cartons to be shipped next week. In order to accommodate, you instruct your team to place those units in the front of the warehouse to be delivered.
The order does not go out until next week and you will have to verify that all cartons have use by dates that ensure a quality product for your customer.
How could you simplify this inventory management process?
With your SCM system track the lifecycle of each individual item, its location and many other supply chain activities. Monitor supply chain activities at anytime and from anywhere using your smartphone, tablet or computer. By confirming stock levels to replace any expiring cartons you ensure older inventory is used first.
Warehouse management could not get any easier than that. And, the man hours of searching through stock? Become saved time and revenue, and none of that stock expires in the process!
When the organization understand the value of turning data into actionable moves for productivity, the opportunity for increased ROI increases substantially.
#2 Develop Custom Processes that Work for You
Analyzing your data to create custom processes for company needs is your foundational knowledge base for success. With enhanced visibility of your supply chain the inventory management process will provide more succinct data. The revelations are endless when you are able to see the transcendent interconnections of your enterprise. Now you have data that can determine which assets are in need of a work order weekly, monthly, or annually.
Your data can reveal if your supply chain needs more raw materials creating consistent data to help with demand planning.
The actionable data can also determine what prime locations your inventory needs to be placed. Based on previous analytic data you can streamline your warehouse stock counts at end of day shifts. With Bluetooth or RFID tagging technologies you harness the power of actionable data for business inventory. Manage costs, simplify your process and create the opportunity for huge returns.
Delegating these processes to your employees could further speed up procedures and approval times freeing up time for more pressing tasks.
Your company is yours to run your way. The asset tracking solution prevents loss and increases profits and works as a simple a tool to enhance that custom process. As you begin to discover the aspects that work best your team, it becomes easier to train others to follow suit. Before you know it, the entire company functions at maximum speed and efficiency with the processes you have in place.
#3 Create an Openness for Automation
The purpose of automation is to correct inevitable human error, speed processes, and make work functions easier. It is easy for many employees to feel discouraged by new systems. Or, to view automation as synonymous to job loss, but it is crucial that employees see the importance of staying competitive in the field.
By gaining a good understanding of the new software it is essential that employees stay in the know of not just what is happening within the company. It is also important to understand how the industry is transforming and innovating within the field.
Equipping employees with tools, and learning opportunities such as webinars, workshops and other training is important to employee success. Many companies institute new software without this approach, and the opposition from employees becomes the biggest obstacle. If an openness towards automation is established quickly, the organization truly has opportunity for maximized profit.
#4 Use the Software at Its Full Potential
Assets are managed effortlessly with management software that lowers costs saving you thousands in revenue. This is what dreams are made of! Remove opportunity for human error, increasing productivity tenfold and watch for the return of investment come back to your organization tenfold.
The possibilities are limitless.
The accuracy CRM systems provide for the healthcare industry creates efficiency and accuracy of service for patients with healthcare supply chain management software. Tracking the exact location of raw materials at a construction site with construction asset management has proven useful for many in the field.
The US military benefits by tracking machinery globally with FedRAMP compliant military asset management software. Energy companies benefit as well to track all assets with 360 degree visibility into the supply chain and asset lifecycle.
Organizations are maximizing on this industry standard now to increase on returns at the end of the fiscal year.
Your new software provides multiple functions that simplify your life. The software, at its full potential, will be an incredible asset to company growth. At Apptricity, we assist clients who fully capitalize on the functions of our software and others that may need a minimal boost in functionality and productivity.
Like any software solution, it takes time to understand new systems and processes.
Getting your organization integrated into a system that will create efficient workflows, and seamless data collection takes time to implement. But, great returns await and the investment in your organization will come back tenfold.
So, ready to see your directors and managers practically giddy with joy? The thought of more functionality and stronger business rules will help create efficiency in so much of their processes. Empowering your team to implement, study, and master the software specifically for your company’s needs is just what your organization needs.
Oh, and don’t forget to get your investors ready for huge returns.
Ring the bell, a beautiful ROI awaits!
Let’s come up with a plan to maximize on your business success.
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