Supply chain management (SCM) is the lifeline of every business. So, it’s vital that you monitor every activity – from obtaining raw materials to converting them into finished goods and ensuring the delivery of products to the end consumer.
To achieve maximum efficiency in your supply, you must have full control over such aspects in your organization. And, the best SCM software can help you do that. It has features that can keep you updated on the status of inventories, shipments, sales, and more details regarding your operations. Read on to learn about them.
Inventory management is a function that oversees the storage, organization, and use of your company’s raw materials and finished goods. Having your stock list checked is crucial as the number of resources you have will determine the whole production process.
A good SCM software helps keep track of all resources and products in your warehouses. Some even have a smart reordering feature that automatically purchases raw materials based on inventory levels.
Order management helps track an order from the time of its placement until delivery. It keeps a record of customers: their purchase history, payment details, and goods returned.
Supply management software syncs order data from multiple channels with information on warehouse inventory to automate order processing. This encompasses everything involved in taking and filing deliverables. Some programs also have functions that can help handle your accounts receivable and payable and create an online ledger that generates invoices and accepts payments.
Warehouse management helps in supervising everything that makes your warehouse work every day. This includes materials, floor space, labor, and operational protocols.
SCM software helps control the storage and transfer of materials. It records processes like packing, delivering, and receiving products at all of your warehouses. The program also tracks the productivity reports of your employees. This ensures that every operational protocol is observed on the production floor.
Shipping management oversees the movement of materials and products throughout the whole organization. It keeps records of all cargos while they’re in transit and analyzes their patterns – whether the items were delivered on time or delayed. This encourages transparency between your company, your suppliers, and clients.
Supply management software can also help create custom shipping rates based on the location of the receiver and the value and weight of the product.
Vendor management helps handle all business activities related to your sellers. It streamlines information by keeping all contracts, documentation of transactions, and other useful data in your organization.
SCM software allows you to share information that your vendors need to serve you better. This may include forecast information, changes in design, and new product launches. This drives transparency and helps you build a relationship with your sellers,which will strengthen both businesses.
With the program, you can also recognize short-term, tactical sellers and long-term critical vendors, which can help you in assessing budget assignments.
Having supply chain management software for your company can make business operations more organized and efficient. Overtime, this will translate to higher sales, a smoother production process, better vendor relationship management, and greater customer satisfaction.