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What Is Supply Chain Management?
Supply chain management is producing final products using raw materials and then shipping the finished goods to the consumer. SLG Logistics is also focused on improving the supply chain process, which can benefit both the business and its customers.
A business can only improve and continually improve SLG by having the ability to see its entire supply chain. This transparency allows enterprises to monitor products or services that travel through the supply chain. This makes it easier to know if everything’s going as planned. It also gives decision-makers more time to react to any disruptions or roadblocks.
SLG involves managing a vast supply chain that includes sub-suppliers (like raw material providers), manufacturers, suppliers, logistics partners, wholesale retailers, distributors, and end customers. The relationships among these different actors in the supply chain can be varied. They may be vertical, for instance, between suppliers of parts and materials and retailers and manufacturers, or horizontal, when an organization merges with or acquires a company operating at the same level within the supply chain.
Let’s take the home cleaning products maker to illustrate what supply chain management operates in practice. The SLG function sources the ingredients and containers they require from suppliers. It creates the final product and then sells it to convenience stores, supermarkets, and drug stores. Supply chain management is a part of every aspect involved in transporting goods.
The Supply Chain Technology And Integration Omnichannel Strategy
With the omnichannel boom and the digital growth which retail has experienced, Supply chain logistics have been one of the most effective opportunities for brands to gain an advantage in this field. As e-commerce continues to develop and expand, end-users/customers are now playing the leading responsibility. Logistics of the supply chain are now centered around consumers’ shifting consumption habits.
Understanding what consumers want regarding logistics in the supply chain is crucial for a successful omnichannel plan. Thanks to their experience in the area and familiarity with other logistics companies, brands can use their knowledge within the fashion world to detect and identify demand patterns. The supply chain tech plays a crucial function in providing the ideal experience for everyone, both consumers and brands, supported by technological components that are part of the process, such as continuous monitoring from end to end, unification of information and documentation platforms, a notification system, and optimized and digital inventory control.
Integrating technology is integral to the process; it will benefit the entire process, resulting in higher efficiency and better ROI.
Supply Chain Logistics: A Advantage Or Disadvantage?
Technology advancement, innovation, and being ahead of the curve are essential to survive. Consider the example of one of the biggest retailers in the USA in 1988. They succeeded thanks to their innovative distribution chain “mail order” model. In October 2018, the company was forced to declare bankruptcy by Chapter 11 of the US bankruptcy law. What happened during those 30 years? This business held the lead in the market for over 80 years. They made significant decisions and placed bets on developing solutions that eluded many technological obstacles.
What, then, was the cause of their failure? Need help to continue on their path of success?
In retail, the most crucial factor for innovation lies in integrating the supply chain. Through a well-integrated supply chain that is efficient and efficient, better routes are found, which allows companies to focus their efforts on the final mile. This will enable them to compete with large online retailers even in densely populated areas.
The Obstacles To Integrating The Supply Chain
The biggest challenges that the industry leaders in the retail and lifestyle sectors confront are:
• The inability to change the speed of the supply chain
• The failure to speed up the last mile in order to facilitate delivery to the end-user
• Insufficient transparency throughout the process
• A sustainable path to take
The most challenging part is connecting all of these components into a single procedure, which requires an investment in technology that is completely geared to an efficient supply chain. The processes must be digitalized entirely to quantify any error’s extent and identify efficiency improvement. Technology also allows firms to interact with a broader number of customers in a more personalized manner and increase the ability to respond to customers’ needs.
Integration: speed, flexibility, transparency, and sustainability
Five essential points to change the logistics of your supply chain:
• Utilizing a single platform to link the data
• Flexibility is an advantage in the market
• Ability to identify trends in consumer behavior and adjust your inventory accordingly
• End-to-end traceability
• Sustainable integration
These are the solutions to the issues mentioned. They also provide an achievable outcome to a greater or lesser extent based on the degree of integration within the supply chain.
When companies are working towards introducing more flexibility into their supply process, this will enable faster response to changes. Utilizing technology can provide more transparency throughout the whole supply chain, which will allow for the identification of patterns in these changes, resulting in procedures to predict these changes in the future.
SLG Logistics A.Ş
The Largest & Biggest Logistic Industry In The World