Four Supply Chain Challenges and Solutions

A supply chain is a network involved in the creation and sale of a product from inception to delivery. Supply chain management is the oversight of resources that go into the process.

Here are some common supply chain challenges:

Talent

Finding the right employees to achieve results is not easy. A recruiting plan can be a helpful way to keep the pipeline full. Another way to impact recruiting is with positive employee morale. Happy employees tell people about work. This can lead to a fuller pipeline organically.

Inventory

Managing inventory can be a challenge. In today’s environments, having a system to manage inventories can help companies go from overwhelmed to organized. Regardless of size, the need for effectively managing inventory is a mission-critical one.

An automated inventory handling system can be an asset. Although these types of systems are a significant investment, having a system will help in the long run.

Data

There is so much data to be collected. Making decisions on which data is needed for analysis is important. By drilling down, valuable time will be saved. It is also important to decide when metrics are needed. Information is important to have but too much information can create paralysis without a plan.

Shipping

Companies pay millions of dollars a year to deliver packages. It can be difficult to be at the mercy of major carriers when it comes to costs.

A solution is offering shipping incentives to customers. These incentives should increase sales and drive overall volume. This offsets the high cost of shipping.

The best way to solve issues in your operation’s supply chain is to identify weak links and to strengthen those weak links. Seeking solutions that increase customer satisfaction while adding to the bottom line will keep your operation running successfully for years to come.