LONDON--(BUSINESS WIRE)--SpendEdge, a leading provider of supply chain optimization solutions, has announced the completion of the latest presentation on the top supply chain optimization problems facing companies. Supply chain optimization is crucial for companies to manage the production and flow of products and services from the source to customers. It allows companies to significantly reduce costs and improve performance.
SpendEdge’s solutions have helped numerous companies stay ahead of the curve and enhance their supply chain management capabilities. The latest presentation emphasizes on supply chain optimization problems facing companies and the steps they can take to address them. It also highlights how optimizing the supply chain can help companies to make better decisions and reduce costs by 10% to 40%.
When it comes to supply chain optimization, our experts have noted that most companies face immense challenges in driving outstanding customer value, enhancing organizational responsiveness, building network resiliency, and facilitating financial success. They fail to capture data related to supply chain and logistics operations and find it hard to profitably compete in the marketplace. With the aid of this article, businesses can better understand supply chain optimization problems and develop supply chain capabilities to address them. This presentation, which is now available for free download, will help you understand the key supply chain optimization problems and the steps you can take to reduce costs and improve the performance.
Optimizing the supply chain is crucial for companies to reduce costs and improve performance. Request a free proposal to know how we can help you devise strategies to build and maintain a financially viable supply chain network.
Supply Chain Optimization Problems and Steps to Address Them
Placement of production plants, distribution, and stocking facilities in prime locations is crucial for companies to optimize their supply chain. However, locating production and stocking facilities close to consumers based on the market demands is one of the key supply chain optimization problems facing businesses, today.
Companies having lightweight and market-driven products should place themselves near to end-users; whereas, the rest of them should build their plants and manufacturing units close to the raw material source. Businesses should also ensure that they comply with regulatory norms if they have global supply chains.
Get in touch with our procurement experts to know how we can help you analyze market demands and identify a strategic location for your business.
Analyzing market demands is crucial for companies to make key decisions regarding the production process. Companies failing to analyze market demands face difficulties in determining the quantity of products to be produced. This is one of the most common supply chain optimization problems that companies face today.
Companies should focus on capacity, quality, and volume of goods while taking strategic decisions regarding the production of products. They should develop an effective supply chain optimization model and ensure that customer demands are met.
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#3: Inventory accuracy
Inventory management costs companies anywhere between 20-40% of their value. This creates the need for companies to improve their inventory management and achieve 100% inventory accuracy to ship products to customers on-time.
Companies should have a robust warehouse management system or resources planning system to maintain an optimal level of stock. They should have control policies that can ensure the correct level of supplies at order and reorder points.
To know more about the supply chain optimization problems and solutions, get more info about our offerings here!
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