4 Strategies to Improve Supply Chain Efficiency for Manufacturing Business Owners
Manufacturers typically perform planning, sourcing (finding suppliers), making (manufacturing), delivering and returns. Supply chain efficiency, therefore, is the measure of getting the right product to the right place at the right time — and at the least cost. Remember, efficiency is not the same as efficacy. Traditionally, supply chain manageme ... Read More
February 18, 2019 manufacturers, supplier management, supplier relationship, supply chainBuilding Effective Supplier Relationships
Your suppliers play a vital role in ensuring your businesses success, but this isn’t only because they provide you with vital goods and materials. Your suppliers offer much more if you seek out ways to build strong relationships with them. In this article we look at the benefits of building supplier relationships for your business. […] ... Read More
August 9, 2018 supplier management, supplier relationship, suppliers, supply chainThe Value of Supplier Relationship Management
Supplier relationship management, abbreviated as SRM, is essentially how your business engages with the vendors who supply your goods, services, and raw materials that make your business function. Having effective SRM in your business isn’t always easy. Every supplier operates slightly differently and provides something slightly different for you ... Read More
August 8, 2018 supplier management, supplier relationship, suppliers, supply chainWhy Your Business Should Invest in Supplier Relationship Management
Suppliers are as important as your clients and customers; without suppliers to handle shipping, inventory manufacturing and outsourced services, many businesses would struggle to keep up. Most businesses are increasingly focused on end-user satisfaction but make sure that your business is not overlooking its suppliers. Build strong, successful rela ... Read More
August 1, 2018 supplier management, supplier relationship, suppliers, supply chainChoosing Between Local or International Suppliers
As industries increase in globalisation, establishing trading relationships with suppliers further and further afield, there is a concurrent and rather ironic push for consumers to support local entities and ‘shop small’. The idea of course is that sourcing products locally increases the likelihood that products are hand-made with attention to ... Read More
February 5, 2018 supplier management, suppliersDeciphering the Benefits of Supplier Relationship Management
What is a supplier relationship management? Effectively, supplier relationship management (SRM) is a systematic, enterprise-wide process, analysing supplier’s assets and capabilities against the company’s business strategy. This process assesses and determines what activities a business wants to take part in with different suppliers. It allows ... Read More
January 26, 2018 supplier management, supplier relationship, supply chain6 Factors of Considering a New Supplier
The best suppliers will provide the most suitable goods or services at the right prices and within the right time frames for your business needs. Below we give you six factors you need to know when considering a new supplier. Finding a Supplier A great place to start is generally online. This is one of […] ... Read More
December 16, 2017 supplier management, supplier relationship, suppliersManaging Your Inventory Over the Holiday Season
Managing inventory is hard enough at any time within a normal business cycle. It becomes increasingly challenging over the holiday season when most retailers experience major peaks in demand for many goods and services. The holiday season is not only busy but often unpredictable and can really mess with your stock control. Unseasonable weather patt ... Read More
December 15, 2017 B2B, inventory stock, seasonal demand, stock control, supplier management, warehouse managementFeeding and Growing Your Supplier Relationship
PricewaterhouseCoopers have conducted research into supplier relationship management and have found that sadly, few companies do it well. Successful supplier relationship management (SRM) is an untapped source of opportunity which should be carefully considered and implemented for increased business success and smooth operations. Rarely are compani ... Read More
November 24, 2017 supplier management, supplier relationshipObstacles and Opportunities for Beverage Industry
The beverage industry is highly competitive, which is why it is important to be efficient and stay up-to-date with nutritional trends and consumer tastes. Understanding the challenges and opportunities in both the industry and the market are important for any beverage manufacturer. Revenue in the beverage industry stems from the demand that is driv ... Read More
November 22, 2017 beverage industry, business challenges, supplier management, trendsFive Tips to Keep Costs Under Control in Tight Times
As the external environment tightens, small businesses are feeling the pressure to be competitive more than ever. Businesses that reduce costs and operate efficiently enjoy increased margins and can boost revenue by passing some of these savings on to their consumers. A key task for high achieving leadership teams is to identify areas to reduce [&h ... Read More
November 21, 2017 inventory management, lean inventory management, production cost, supplier managementSurvival 101: Grocery Price War
Globally, we are seeing an all-out war develop between grocery companies. In New Zealand, we are largely sheltered from this, as we are small and only have a handful of local supermarkets. In the United States and the UK however, it is a different story. Grocery chains fight, sometimes unwillingly, in this war simply to […] ... Read More
October 16, 2017 America, inventory management, stock control, supplier management, US, USASuppliers: Factors Affecting Inventory Management For F&B Producers
Suppliers are one of the biggest factors affecting inventory management Managing supply chains can be difficult business , particularly if you cannot rely on suppliers to meet your commercial deadlines and deliver quality products first time. A poorly managed supply chain is one of the biggest factors affecting inventory management; in the food man ... Read More
September 16, 2017 AU, Australia, supplier management, suppliers, supply chain, supply chain challengesSix Tips to Reduce Inventory Lead Times
In business, getting access to and holding the inventory you need is key. Holding large reserves of inventory is one way to ensure your business has enough stock on hand, but a better solution may be to focus on reducing lead times in your business’ supply chain. Being able to order stock quickly takes away […] ... Read More
August 21, 2017 inventory management, inventory ordering, lead time, supplier management, supplier relationship, suppliersContrasting Trade and Cash Discounts
Most businesses will use discounts and price reductions at some point in their business journey. For a growing business, discounts can be a way to attract business, clear excess inventory, differentiate between market segments or encourage prompt payment of invoices. Discounts are often thought to be the exclusive preserve of retail businesses. In ... Read More
August 9, 2017 distribution, inventory management, pricing, pricing strategy, retail, supplier management, wholesaleAim For Better Supplier Relationship Management
In any stock-based business, it is crucial to manage supplier relationships well. Developing constructive relationships with your business’ key suppliers is important to secure reliable supply, unlock competitive pricing and to understand emerging trends that may impact on your business. Despite a growing number of businesses taking a supplier re ... Read More
August 7, 2017 stock control, supplier management, supplier relationship, supply chainFour proven critical strategies to improve inventory management
Inventory management is the lifeblood of the supply chain. It is a system that is interconnected – it is critical to know what the perfect balance of supply and demand is or else disadvantages are inevitable. If you do not have enough inventory you miss out on a lost sale from customers. If you have […] ... Read More
July 26, 2017 inventory management, supplier management, suppliersSelecting Suppliers: Three Factors to Consider
Many businesses find it difficult to identify reliable suppliers who can deliver quality product on time. Whether you are a manufacturer, a wholesaler or a retailer, liaising and negotiating with suppliers can be a stressful and time-consuming process. Let’s look at three key factors you should consider when selecting a supplier. Negotiating pric ... Read More
July 24, 2017 manufacturers, supplier management, supplier relationship, supply chain, wholesalersDo You Know the True Costs of Inventory?
There are three costs of inventory that should be carefully considered as they can drastically affect the bottom line without any apparent cause. ... Read More
April 18, 2017 holding costs, ordering costs, sales forecasting, shortage costs, supplier managementThe Basics of Inventory Management
Inventory management is the ability to oversee the ordering and storing of supplies for a business - here's the basics for getting it right. ... Read More
April 4, 2017 inventory basics, sales forecasting, stock reorder, supplier management, warehouse managementHow does consignment inventory work?
Consignment inventory is a useful arrangement that allows a supplier and a retailer to create a “win-win” scenario through the sharing of risk. ... Read More
March 21, 2017 business capital, consignment inventory, holding costs, shared risk, supplier managementNeed to Streamline Your Inventory Management?
In today's competitive business environment, it's important to have strategies in place that make the inventory management process as easy and efficient as possible. We detail five ways to streamline your inventory management.
... Read More December 7, 2015 automated inventory control, business strategy, supplier management, supply chain processes, vendor managed inventory