The supply chain software enhances the supply chain operations and they provide the companies with the competitive edge. With the use of supply chain software, businesses can maximize the profits, increase productivity and decrease the costs.
An efficient supply chain software should support the following processes
Inventory Management:
Inventory management plays a vital role in the effective utilization of inventory and reduction of inventory costs in a supply chain. The supply chain software should support the inventory management by tracking and managing the supplies of raw materials and components needed for production, finished goods to satisfy sales orders, and spare parts required for field service.
Return Management:
A supply chain software should help in the inspection and handling of defective products and it should automate the processing of claims with suppliers and distributors, as well as insurance companies.
Order Management:
Supply chain software should accelerate the execution of the entire order-to-delivery cycle and should track the sales orders.
Procurement:
The activities like sourcing, purchasing, and payable are fully automated with the help of supply chain software and this helps the organizations to maintain a cardinal relationships with the vendors, better assessment of their performance.
Logistics:
Supply chain software helps the global companies in coordinating their warehouses and transportation channels and businesses can also improve on time delivery performance increase customer satisfaction by achieving complete visibility into how finished goods are stored and distributed.
Forecasting and Planning:
With a supply chain software, companies can estimate customer demand more accurately, and plan their procurement and production processes. As a result, they can avoid unnecessary purchases of raw materials, eliminate manufacturing over runs, and prevent the need to store excess finished goods.
The above are the features of supply chain management which explains how it is important for a business.
An efficient supply chain software should support the following processes
Inventory Management:
Inventory management plays a vital role in the effective utilization of inventory and reduction of inventory costs in a supply chain. The supply chain software should support the inventory management by tracking and managing the supplies of raw materials and components needed for production, finished goods to satisfy sales orders, and spare parts required for field service.
Return Management:
A supply chain software should help in the inspection and handling of defective products and it should automate the processing of claims with suppliers and distributors, as well as insurance companies.
Order Management:
Supply chain software should accelerate the execution of the entire order-to-delivery cycle and should track the sales orders.
Procurement:
The activities like sourcing, purchasing, and payable are fully automated with the help of supply chain software and this helps the organizations to maintain a cardinal relationships with the vendors, better assessment of their performance.
Logistics:
Supply chain software helps the global companies in coordinating their warehouses and transportation channels and businesses can also improve on time delivery performance increase customer satisfaction by achieving complete visibility into how finished goods are stored and distributed.
Forecasting and Planning:
With a supply chain software, companies can estimate customer demand more accurately, and plan their procurement and production processes. As a result, they can avoid unnecessary purchases of raw materials, eliminate manufacturing over runs, and prevent the need to store excess finished goods.
The above are the features of supply chain management which explains how it is important for a business.
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