Supply chain operations are the blood flow of every business. That’s why monitoring and organizing sales, delivery, and inventory records are critical. The best PLM software (product lifecycle management) or supply chain software has features that help businesses keep track of these records. Continue reading to learn about the 5 vital functions of this software.
To have strong order management, which means seeing the products through from sale to delivery smoothly, is the aim of supply chain companies. To help them achieve this goal, supply chain software tracks orders from the time of their placement until the time of their delivery. It also maintains a record of customers as well as of payments and goods returned.
This area of the supply chain operations oversees the movement of items and materials throughout the whole company. SCM software helps by keeping records of all shipments, including their respective dates and times. It also tracks shipments while they’re in transit and analyzes their patterns: Were the products delivered on time, or were they delayed? This encourages transparency between suppliers and their clients.
Warehouse management pertains to the supervision of everyday warehouse work. It includes controlling the storage and transfer of materials and tracking productivity reports of employees to ensure that operational protocols are observed on the production floor. In this case, SCM software records processes like packing, delivering, and receiving products at warehouses in different locations.
Inventory management refers to overseeing the organization, storage, and use of a company’s raw materials and finished products. Companies have to check their material stock list as it’ll determine the whole production process. SCM software helps keep track of all materials and products in the warehouse.
Anticipating the demand for products can be of big help for companies to lower the number of wasted goods and reduce costs. SCM software helps forecast the demand for certain products according to analyzed sales data, which then can help companies plan the procurement of materials and schedules of production.
Generally, PLM software keeps businesses updated on the status of their sales, shipments, and inventories. Having one for your company can make your business processes more organized and more efficient, which translates to a smoother production process, higher sales, and greater customer satisfaction.