Monitoring and managing the flow of data, goods, and finances from initial stages of product development to the time it reaches to its final destination, a supply chain management software solution does it all. Without it, businesses often fall susceptible to making mistakes at each stage, from production to shipment, which can lead to delays, customer frustration, and lost revenue. This is why we see more and more organizations incorporating it into their practice worldwide.
Since it integrates various business verticals into a centralized single system, it has now become an integral part of business operations, enabling organizations to improve their efficiency and generate more revenue. That said, you, being a business owner, may also be thinking about implementing it. If so, make sure that the system you opt for has a few common features to ensure maximum returns.
The most common features that a supply chain management software solution should include are as follows:
It’s a critical feature that enables you to track and manage the availability of stocked goods, raw materials, or spare parts. It also helps you with asset management, future inventory, barcode integration and price forecasting.
Overseeing purchase orders is often a tedious and complex task. A good supply chain system helps you automate purchase order processes including generation and tracking of purchase orders, scheduling of supplier deliveries, and many others.
Logistics and shipping status
This is a crucial aspect that assists you with coordinating transportation channels, refining delivery performance and boosting customer satisfaction, which ultimately helps your business in the long run.
For the best supply chain management software solution, make sure you go through Techdinamics and include it in your practice.
Did you know that the percentage of companies implementing integrated supply chain management is expected to rise from 60% to 83% by the end of 2018? Reports and surveys suggest that no less than 79% of companies who have implemented high-performing supply chains are seeing a much greater growth in revenue.
Benefits of supply chain
For a better understanding of why it is suddenly gaining popularity among industries, let’s take a look at the top 4 benefits of an integrated supply chain system.
- Clearly, it is one of the most important needs for a company to be flexible and adaptable to a variety of unprecedented situations. The application of an integrated supply chain system gives a company the capacity to perform more easily and flexibly than any other method. The just-in-time characteristic eventually helps in bringing down the warehouse maintenance costs by limiting the space needed. Just-in-time essentially means assembling and manufacturing the products just when the order comes in.
- Management of a co-operative and innovative supply chain system effectively will only assist in producing better results and profit. This happens because product delivery gets way quicker and without much of a failure rate, thus resulting in a significantly higher profit margin.
- Warehouses in industries often struggle with over and under stocking problems. This happens majorly due to human error. By successfully implementing a supply chain management system, you wouldn’t need to bother about such issues and will be able to focus on more important areas of the workplace.
- With a tightly integrated system, the production planners have the capacity to focus on the order fluctuations, thus eliminating mistakes in delivery. It gets way easier and efficient to correctly count the quantity of products to be delivered in the right order, from the right box. This eventually results in a lesser number of poor product handling situations.
Techdinamics Warehouse Integration solutions makes supply chain management implementation easy. With over 15 years of experience — providing services to businesses of various sizes — Techdinamics has the experience and know-how for making small and large projects successful. Get in touch with us, today!