The Implication of Stock-outs on Your Customers
eCommerce poses a variety of issues with order fulfilment and inventory control. It turns out that a quarter of online shoppers ditch their cart due to out-of-stock issues. This means eCommerce sites could be losing 25% of sales because of inventory control problems from stock-outs. However, this is only taking into account customers who have [&hel ... Read More
April 27, 2019 inventory management, inventory stock, stock level, supplier relationshipThe Difference Between a B2B and B2C Supply Chain
Supply chains are a fundamental part of how businesses operate; they are key players in getting a product to another user. However, the user can be very different when it comes to doing business. The two most common transactions are business-to-consumer (B2C) and business-to-business (B2B) when it comes to selling goods and services. In B2C, [&hell ... Read More
April 24, 2019 B2B, B2C, supplier relationship, suppliersWhat a Multichannel Strategy Means for your Supply Chain
A shift in consumer shopping preferences and behaviours is driving the growth toward multichannel retailing. This multichannel strategy has a direct impact on a business’ supply chain and creates different priorities for both retailers and their suppliers. For retailers, supply chain priorities include increasing on-shelf availability while reduc ... Read More
April 23, 2019 eCommerce, multi-channel, retail, supplier relationship, supply chain5 Inventory Control Practices To Save You Money
Inventory control is the process of keeping track of inventory stock and monitoring the company’s stock levels across various platforms and locations. Getting inventory control right can save you money, increase cashflow and improve your competitive advantage. The following five inventory control practices can help streamline your business and sa ... Read More
April 3, 2019 abc categorisation, inventory control, stock control, supplier relationship5 Traits of a Great Inventory Manager
Inventory management is key to the success of any business, big or small. It encompasses a wide range of tasks, all of which should streamline your supply chain and ensure the utmost productivity. As your business grows, good inventory management will become even more crucial, and you may need to hire an inventory manager who […] ... Read More
March 23, 2019 inventory management, inventory management software, inventory stock, supplier relationshipSteps to Take When Creating an Efficient Supply Chain
When a company is aiming simply for continuous improvement, supply chain analysis is imperative. This is because the supply chain can make or break the business in terms of its ability to maintain the supply of product or services to their customers. And let us face it, without that, there is no income and no […] ... Read More
March 2, 2019 supplier relationship, suppliers, supply chain, supply chain management5 Quick Solutions for Simplifying Supply Chains
Supply chains are becoming increasingly complex so simplifying them can be a complicated matter. In an attempt to get back to supply chain basics, companies need to scrutinise their processes, from procurement through to storage and shipping. Here are five quick solutions for simplifying supply chains: Clear the clutter With the rapid rise in our [ ... Read More
February 26, 2019 inventory management, supplier relationship, suppliers, supply chain4 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 chainUse These Inventory Management Tips to Save You Money
Inventory stock can earn you money or cost you money depending on how you manage it. If your inventory stock is managed properly, it will allow you to move products quickly and efficiently, earning you money faster. However, if you have shelves of dead inventory stock taking up space throughout your warehouse and other obstacles […] ... Read More
February 4, 2019 inventory, inventory forecasting, inventory management, inventory management software, stock take, supplier relationship3 Simple Tips to Prep Your Business for Peak Periods
It’s very common for a business to earn a substantial amount of their revenue over a short period of time. Peak periods lead to an influx of sales and it seems to happen relatively quickly. These fluctuations are important to prepare for and even more important to capitalise on. Don’t miss out on the peak […] ... Read More
December 24, 2018 inventory control, stock control, supplier relationship, suppliers, supply chainIs Your Supply Chain Vulnerable to These Risks?
Supply chains are comprised of technology, logistics and people coordinating with each other around the world. They are powerful tools, but there are numerous risks that can threaten the health and stability of any supply chain. It’s important to identify what poses threats to your supply chain and be prepared. With good planning, you can [&helli ... Read More
September 11, 2018 supplier relationship, supply chain, supply chain challenges, supply chain riskBuilding 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 chain5 Things to Know About Sourcing Globally
Global sourcing occurs when companies go beyond their home borders for sourcing goods and services. There are many benefits to doing so, but there also are risks involved, we have identified five major risks and some ways to mitigate them. Time Differences Having a supplier on the other side of the world often means that […] ... Read More
February 3, 2018 logistics, supplier relationship, suppliers, supply chain riskDeciphering 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, suppliersFinding Value-Adding Suppliers
When running a company, it is vital to understand all factors affecting inventory management, which includes suppliers and the dependence of the company on them. Without product supply, the company cannot provide for their own customer’s needs which essentially jeopardises profits and survival. However, it is not just the act of being able to sup ... Read More
December 16, 2017 freight, freight costs, supplier relationship, suppliersThree Challenges that Require F&B Manufacturers to Innovate
Food and beverage producers have been innovating for more than a century; the industry has consistently improved by creating innovative flavours, improving shelf stability and reducing production costs to make food available for more people than ever before. Now, as the industry faces more significant challenges than ever before, the food and bever ... Read More
November 27, 2017 food manufacturing, supplier relationship, supply chainFeeding 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 relationshipUnderstanding What Is Inventory Control
Inventory control regulates the stock that is already in your warehouse. This involves knowing what is in stock, where is it located in the warehouse, and the condition it is in. It is also about ensuring your warehouse is set up in a way that allows warehouse staff to quickly pick and pack products to […] ... Read More
November 24, 2017 customer satisfaction, inventory control, inventory efficiency, supplier relationshipUnderstanding What Is Inventory Management
As a component of supply chain management, inventory management oversees the flow of goods or components from manufacturing to warehouse, and ensuring goods are tracked and well stocked. This includes determining when to order products, in what quantities and from which supplier. Efficient inventory management ensures that your business will always ... Read More
November 23, 2017 accurate inventory, business growth, inventory management, supplier relationship