Manage Your Supply Chain In 4 Easy Steps

Managing your supply chain may seem like a daunting task and can often be overlooked until it becomes an issue. For the whole process of the supply chain to work, there are hundreds if not thousands of components involved in getting your products to your customers. To the untrained eye, this may seem a simple action of getting products from A to B but seasoned retailers know all too well that supply chain management is one of the keys to a successful retail business and getting to grips with it is essential.

This might seem like an issue for the future, or a task too overwhelming to tackle right now but we’re here to reassure you that there are a number of ways to manage your supply chain effectively. In this blog, we share our 4 easy steps:

The Supply Chain

This is the complex web of companies and people that form the process of getting your products to your customers. This varies enormously across different industries and can range from global networks to local suppliers down the road. Every product and industry will have a unique supply chain with first tier suppliers providing products directly to their clients, second tier suppliers to the first tier and so on.

If the supply chain isn’t managed effectively, there can be huge and costly consequences. Other tasks that follow on from supply chain management include inventory management which is almost impossible if you don’t have a firm grip on where your products are in the chain. Thankfully, we have 4 easy steps to successful supply chain management.

• Have a Strategy

As with many things in retail – and indeed any business – planning and preparedness are fundamental to success. Although it’s not possible to predict the future, having the right tools in place to assist you in forecasting what is coming your way will ensure you’re ready for any surprises. With OpSuite Retail Management Solution, you can remain ahead of the competition with powerful forecasting tools at your fingertips. It’s always helpful to have a back up plan for alternative products or the ability to hold products to prevent understocking. By working out your plan, you’ll be able to see what you need from your supply chain and when. Without a clear plan in place, it can seem like you’re completely in the dark with inventory management. OpSuite allows you to confidently manage your stock and therefore manage your supply chain.

• Utilise Innovative Technology

Now more than ever, supply chains are complex networks of countless components and modern retailers are catching on to the need for innovative and cutting-edge technology to make the most of supply chain management. When supply chain management goes wrong, it can often be down to human error. You can reduce the chances of human error with technology that’s designed to get you the products that you need at the right time. With retail software such as OpSuite, managing your supply chain and your inventory has never been easier. Our EPoS allows you to seamlessly integrate with eCommerce and online marketplaces without worrying about how you’ll manage your inventory. The world of eCommerce is always expanding and our team can advise you on what’s up and coming.

• Automate Your Processes

One of the many benefits of utilising innovative technology is that you can also greatly improve your customer experience. One of the biggest headaches for customers and retailers alike is running out of stock. It’s not what you want your customers to experience with your business. By using an inventory management solution, your EPoS can automate ordering processes when stock reaches a trigger point and you can therefore ensure that your customers’ needs are always met. With automated inventory management, your EPoS will update your stock levels so that you’re always in control, giving you exactly the information you need to manage your supply chain.

• Make Use of Data

To put it simply, managing your supply chain can sometimes be as simple as knowing the numbers and how each part of your supply chain works. For example, the third tier trades with the second tier who trades with the first tier, each with different lead times. By using EPoS software such as OpSuite, you gain powerful analytics and reports which give you deeper insight into your entire business and your supply chain, allowing you to understand how long each supplier takes to fulfil orders so you don’t over or under order stock. This not only frees up valuable space in your warehouse, but also preserves cash flow so you don’t tie up too much money in stock.

Why choose OpSuite?

Where supply chain management is concerned, it is essential that all data is accurate and up-to-date. OpSuite effortlessly provides you with ultimate visibility over your stock profile from a single point, across all sales channels. Whether in the stock room or a warehouse, real time data from OpSuite means you’ll never be in the dark.

Conclusion

If you’re ready to take these steps and manage your supply chain successfully then we’d love to hear from you! We are industry experts and have been working with ambitious retailers for over 18 years. No matter which is your industry, we have supplied tailored software solutions and EPoS hardware to support businesses to gain a comprehensive oversight of their entire operation. Get in touch with our friendly team at RMS for expert advice.

Why choose RMS?

RMS have worked with ambitious businesses since 2004, supplying tailored software solutions and EPoS hardware from the Shetland Islands to the Seychelles. We work with businesses in most retail verticals, contact us and discover how we can support you successfully manage your supply chain.