Let us understand the vital role played by supply chain management. Supply chain management is the management of merchandise flow and the flow of services. It also includes any steps that transform raw material to the product that the consumer has ordered.
Importance of supply chain management?
The supply chain flow has to be managed to work seamlessly. Every unit of your business has to work cohesively so that the customer needs are satisfied. If there are any issues or chokepoints in the flow, they have to be fixed immediately.
Supply Chain Technology helps in managing any issues in the supply chain model. Using data and future predicting models, the supply and demand are controlled. All data right from storage till delivery is aggregated. And based on the consumer behavior, inventory is handled.
Supply Chain Management Companies help you design your business model for a sufficient flow of goods. These companies help in increasing the cash flow in your model. By using apps, the data is collected right from the storage of merchandise till delivery.
Inventory Management involves the storage and transport of goods across the supply chain. The following are the benefits of inventory management
Inventory management also involves handling any delivery issues. Hence management helps in preventing any loss of goods through wastage.
Goods are delivered promptly. Thus, increasing the customer satisfaction
Warehouses store large quantities of merchandise. These warehouses service both B2B andB2C business models. It is, therefore, effortless for goods to get wasted, especially perishable goods. Good storage management handles inventory and also handles acquiring the right kind of storage containers. For example, perishable goods required huge freezers for storing products.
4)Types of inventory
The types of inventory that are handled are raw materials inventory, inventory in transit, unfinished products. It helps in cutting costs and helps in the growth of your business by increasing customer satisfaction.
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