SCM (Supply Chain Management) is directing the flow of services and goods as well as involves an active streamlining of the business’s supply side activities. There are several applications & softwares for businesses that help in supply chain management as it helps in gaining a competitive benefit in the marketplace along with maximizing the value to the customer. This, ultimately, helps in successful business growth.

The supply chain management best practices are regarding crafting the big picture’s vision besides supporting actions required for realizing it. Goals which include supply chain visibility as well as sustainability and the Omni-channel strategy are ideal instances of achievements that are impossible without the high degree of collaboration as well as orchestration.

Check out the below-mentioned list of the supply chain management best practices –

• Enhance inventory velocity – Inventory should move immediately. It is required to flow from manufacturing sites or suppliers to customers. Being cash poor and inventory rich is not the sound approach. It is particularly so for the A items along with various B items. The products sitting in the warehouses are limited as much as possible.
• Implement lean logistics and supply chain management – The lean logistics complements the supply chain management. Both focus on not pushing, but pulling, products by the supply chain. Also, both identify and lean eliminates the waste produced by additional inventory as well as time along with the requirement for the supplier performance.
• Compress the cycle time – The cycle time runs from the time the requirement for the product, replenished or current, is evaluated as well as goes till it is delivered to the store or the customer. The length of International supply chains adds to the challenge.
• Better the supplier performance – Success starts with the supplier performance. They should deliver top-quality items along with doing it accurate, on-time, and complete. Collaboration is significant. Whether products are the finished materials or goods for factories, the requirement for robust supplier performance is there.

Whether organizations look for moving into e-commerce or D2M or for improving performance, executing Logistics and supply chain management will lead your business to their desired goal. Through managing the supply chain, the retailers are better capable of cutting excess costs along with delivering products to the customers immediately by tighter control of the internal production, internal inventories, sales, as well as inventories of organization vendors.

• Supply Chain