No matter the size of your manufacturing business, successfully managing your supply chain will be a key factor in your continued success. From incoming raw materials to finished products, it is necessary to know what you need, what you have and where. Do you have all the materials on hand to complete projects and orders? Have you been plagued by a shortage or overstocking of some items? If your supply chain process is less than optimal, we have some suggestions for you.
Having a clear and accurate picture of your materials and inventory throughout your supply chain will allow you to make business decisions that will keep your organization competitive. You will be better able to control costs, calculate and possibly reduce cost of goods sold (COGS). Better visibility and planning will increase profitability.
Don’t leave it to chance. Rely on your data instead of guesswork. Here are seven ways to control your supply chain:
1: Update your systems for better MRP
Your manufacturing business is moving fast. Your ERP system should be able to keep up with this. Outdated legacy systems may slow the recovery of vital data required for timely decision making. A modern and integrated ERP solution,
2: Optimize your purchasing process
A fully integrated system will simplify your purchasing process. Reduce material costs, reduce inventory levels, and improve customer service. All of this is achievable when you have a complete view of your supply chain process. Stay on top of supplier data, internal inventory and production status and keep everything running smoothly.
3: improve warehouse management
Stay informed of local and global suppliers and reduce the impact of cost fluctuations by managing your warehouse efficiently. Choose a data-driven warehouse management system that simplifies receiving and dispatching orders and ensuring you have stock when and where you need it.
4: Increase insight
The more moving parts there are in your supply chain, the higher the chance of error. You need to keep track of suppliers, materials, customers, orders, and fulfillment. Basic tasks like forecasting demand and planning supply have never been more difficult. It is essential to know where your inventory and assets are at all times. If you can identify potential issues, you can mitigate them before they affect your product and customers. Therefore, you need to see all the components of your supply chain.
5: Focus on exceptional customer service
Your most important asset is your loyal customers. Without them, you will be unemployed. So, effective inventory management is not just about improving inventory levels. Another goal is customer satisfaction. Customers have come to expect a higher level of service. Running an efficient manufacturing company makes it easy to do well with your customers. They want to know where their orders are and when to expect them. With all your data under one system, you’ll be able to tell them exactly what to expect. Integrating collections of information from across your organization into a single system will help you make smart decisions and encourage customer loyalty.
6: Cooperate with major customers
With today’s competition, you need to prove yourself as a reliable business partner. The more information you provide to your customers, the better your communication, the more successful you will be in maintaining customer loyalty and avoiding pitfalls such as lost sales, out of stock, and late orders. Microsoft Dynamics 365BC Analytics can provide the information and insights you need to increase sales and strengthen relationships with your partners.
7: Take advantage of expert advice
The right ERP solution is key to controlling your supply chain. Microsoft Dynamics 365BC can give you the control you’re looking for. Put your trust in a time-tested solution and a team that understands the issues your business faces every day. Our experts at ArcherPoint will use a collaborative and thoughtful approach to evaluate your business operations and compare them to desired results.
ArcherPoint has been helping organizations transform their manufacturing businesses with Microsoft Dynamics NAV and Dynamics 365 Business Central for more than 20 years. We have certified professionals with NAV/Business Central experience, as well as real-world manufacturing experience.
Would you like to learn more about our approach? Download our e-book,