In manufacturing, there are some tasks that are just better without the aid of technology and instead require nitty-gritty, get-your-hands-dirty type work. But, when it comes to supply chain management, technology can help eliminate logistical headaches and free up time for what’s truly important. Embracing supply chain technology is no longer just a way to get ahead, but a necessity in order to keep up with demands.
From simply having a warehouse logistics system to more elaborate solutions, supply chain technology has a multitude of uses and benefits. For example, RFID tags can be leveraged to more precisely track inventory. This technology can be used in conjunction with other concepts such as multi-bin or Kanban systems to minimize excessive stock. Our PULSE solution is an example of this.
At the end of the day, the most important consideration is that any supply chain technology you leverage is providing efficiencies. Here are three benefits of embracing technology:
- More Information, More Visibility
Technologies like RFID and web portals allow for more real-time information and heightened visibility. With this comes a greater understanding of what is needed and when. It allows suppliers to better understand our customers and work proactively. As a manufacturer, this means you’ll always have the right parts before you need them (say goodbye to the panic of rushed orders) and you won’t have to stock excessive amounts of inventory. Today, supply chain technology allows suppliers and customers alike to get information faster and make informed decisions quicker, which is always good for business.
- Less Stock on Your Shelf
Leveraging these technologies also helps minimize the amount of inventory in the supply chain to benefit both manufacturers and suppliers. By using data to have a better understanding of demand, suppliers like us can better anticipate needs and make sure customers have the right parts at the right moment. This reduces both the amount of inventory you have to carry on your shelf and the likelihood of stockouts. Supply chain technology also allows suppliers to expend less energy on the busy work of manual inventory management, freeing up time to spend on value-added services with higher impact.
- Competitive Efficiencies
Having up-to-date, more accurate information helps to better compare sources and ultimately deliver lower total cost of ownership to manufacturers. By knowing exactly where inventory is, even overseas, you can avoid unexpected rush expenses. Overall, involving technology streamlines the entire supply chain, making it more efficient and competitive across the board.
Want to learn more about how we use technology to benefit our customers? Let’s talk!