In business, efficiency is important, but in the supply chain world, efficiency is paramount. At K-5, we specialize in supply chain efficiency and making sure your systems deliver the results you need and expect. We constantly work to improve systems and always deliver best practices to our clients. Here are recommendations for ways you can improve the efficiency of your supply chain.
Strong communication
Develop a plan to keep your team members informed on a regular basis. Have weekly big picture meetings and daily check-ins so your team will be aware of logistical situations in advance. Encourage employees to share their thoughts and observations based on their role in the supply chain. They can provide you with valuable feedback on how operations can be improved and have ideas about aspects of the supply chain that you may not be aware of or have not noticed.
Processes for effective inventory management
You ideally want to have processes that allow you to track inventory levels through each stage of the chain. This allows for greater visibility and for you to have access to up-to-the-minute data analytics so you can feel confident you are making sound business decisions. You may want to implement a modern inventory management system (IMS) and utilize apps that will allow you to manage all aspects of your inventory and demand forecasting.