Strategy, Systems and Stock

Strategy-Systems-and-Stock

Three key areas that will help you work out if it’s time to purchase a new supply chain management system.

It’s tempting to avoid an upgrade based on the logic that your current system ‘works fine’…but does it?

It can be difficult for business owners to know when to upgrade a system that may not be completely broken, but may be costing the business money through inefficiency, inaccuracy or reduced productivity. The fact is, an out-dated or inefficient system may be silently draining your business of money every single year you keep resisting an upgrade.

If you’re contemplating introducing a new supply chain management system, here are three key questions to ask yourself that will help you work out if you need a new system:

Is it time to purchase a new supply chain management system?

Not sure if you should be investing in a new supply chain management system? It’s tempting to avoid an upgrade based on the logic that your current system ‘works fine’…but does it? It can be difficult for business owners to know when to upgrade a system that may not be completely broken, but may be costing the business money through inefficiency, inaccuracy or reduced productivity.

The fact is, an out-dated or inefficient system may be silently draining your business of money every single year you keep resisting an upgrade. If you’re contemplating introducing a new supply chain management system, here are three key questions to ask yourself that will help you work out if you need a new system:

Do you have a supply chain strategy?

It’s not uncommon for businesses to charge forward without a supply chain strategy. It’s also true that many business owners get bogged down in attending to other facets of the business (human resources, balancing budgets, and the day to day management of inventory) and forget the importance of investing in a good supply chain strategy that will grow with the business, anticipate customer’s needs and respond to future trends.

If you’re currently operating your business without a supply chain strategy (or one from last century!) then that’s a good indicator that you probably need to look at investing in a new system to maximise the operations of your supply chain management and bring it into line with current supply chain trends.

Are you still using paper?

The digital age is revolutionising many elements of life, and supply chain management is no exception. While some sectors have been fast to embrace emerging technologies, others have been a little reluctant to adopt game-changing systems. The world of logistics, warehousing and supply chain management has been vastly improved by cloud-based computing, resulting in systems that increase productivity, reduce error and make reporting simpler, faster and more accurate.

Chances are, if you’re still using paper order forms to pick and pack, then your business isn’t working at maximum efficiency.

What is your stock accuracy like?

So, what is your current stock accuracy like? If your stock accuracy isn’t all that is could be, then perhaps it’s time to introduce a new supply chain management system into your business? Getting an accurate, real-time read on your inventory is a crucial element to running a modern business.  If your business is plagued by stock accuracy issues, then perhaps it’s time to upgrade to a supply chain management system that can improve your stock accuracy and give you access to up-to-date, real-time data.

If you’re ready to install an innovative, time-saving, supply chain management system get in contact with the Nucleus Logic team to discuss your options.

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