In the ever-evolving world of supply chains, paying attention to how you manage things is critical for staying efficient.
A single overlooked error can throw off the entire process.
Checking in regularly on where you can improve helps keep things running smoothly and successfully.
Check out the full video below to dive into the must-watch elements you shouldn’t ignore.
5 Supply Chain Fixes
Warehouse
Warehouse demand has surged as companies struggle to handle larger inventories post-pandemic. Many are upgrading or expanding facilities to keep up with demand. This trend is visible globally, including in Australia and North America.
Analyzing Service Costs
Cost-to-serve analysis is increasingly common, helping companies spot areas of high supply chain costs. Unlike traditional reporting, this method reveals hidden expenses, making it easier to streamline operations.
Improved Inventory & S&OP
Effective inventory and Sales and Operations Planning (S&OP) are essential. Reducing excess inventory and improving demand planning free up capital, benefitting the business overall.
Optimizing Ocean Freight
Ocean freight costs have fluctuated significantly. Companies are optimizing container use and consolidation points to reduce expenses, making this a major focus area.
Outsourcing to Reduce Costs
Outsourcing has become a popular way to control costs. Many companies are switching from in-house to outsourced logistics, but finding reliable providers can be challenging.
These five areas are essential for a competitive, efficient supply chain.
Make sure to watch the full video for complete insight.
Related articles on this topic have appeared throughout our website, check them out:
- 9 Barriers to Optimal Inventory and How to Break Them Down
- Cost to Serve – A Smarter Way to Improved Supply Chain Profitability
- The 7 Principles of Warehouse and Distribution Centre Design
- Insourcing or Outsourcing Logistics: Don’t Choose the Wrong Reasons
- 10 Freight Management Mistakes and How to Avoid Them
Editor’s Note: The content of this post was originally published on Logistics Bureau’s website dated June 07, 2023, under the title “5 Supply Chain Fixes for 2023“.
