With the rapidly changing business climate, supply chains need to be more flexible and reliable. In the past supply chains were labor heavy, but now they are more information intensive. Recent changes have led to the automation of supply chains due to three main benefits:
- Reduce costs
- Increase sustainability of products
- Increase rate of flow of goods
With new info emerging, there is creation of what we refer to as knowledge work. This means converting information into knowledge that you need to do your tasks and achieve your set goals. For supply chains, this includes Analytics, Procurement Processing, and Planning.
There’s no doubt that Big Data is disrupting the industry. The result? Data and analytics can give you a better look into your processes for better decision making. It also offers you more competitive advantage by:
- Giving real time updates to react faster
- Helping you control your costs and profits
To create knowledge work, build networks with your partners. This is an easy way is to update all your transactions in real time. Furthermore, this system generates reports and analytics for everyone’s use.
This is an important factor of any supply chain. It includes purchasing items through internal transfers or external suppliers. These items are reviewed, approved, ordered, and received. So, try to establish clear communication channels with your suppliers:
- Engage them with your needs and collaborate
- Keep track of all the inbound goods
- Continuous reporting and monitoring will reduce wastage
If you want to create knowledge work, get an efficient order and shipping management system. Record every action and you can use this to improve your outbound logistics.
Planning in Supply Chain involves predicting future needs based on past numbers. To stay competitive in the market, it is important that you balance your supply and demand. This also extends to shipping and execution. You need to sync info from analytics and procurement processing in your system. Convert all this into knowledge that your employees can use to react to changing market dynamics. This knowledge will help you figure out your functions of fulfillment, replenishment, and inventory management.
As the world becomes more connected, business is going global. As well, so is the emerging knowledge work in Supply Chains. But why should you care? Simply because you want to be HQ’d in one country but operate anywhere in the world. Interested in learning more about a system that can help you create your own knowledge work? Feel free to reach out to our experts at Clear Spider for a demo.