No matter the size of your manufacturing business, successfully managing your supply chain will be an essential factor in your continued success. From raw materials coming in to finished products going out, it’s vital to know what you need, what you have, and where it is. Do you have all the materials on hand to complete projects and orders? Have you been plagued by understock or overstock of certain items? If your supply chain operation is less than optimal, we have some suggestions for you.
Having a clear and accurate picture of your materials and inventory throughout your supply chain will allow you to make business decisions that will keep your organization competitive. You’ll be better able to control costs and calculate and perhaps minimize your COGS (cost of goods sold). Better insight and planning will lead to increased profitability.
Don’t leave it to chance; rely on your data rather than guesswork. Here are seven ways to take control of your supply chain:
1: Update your systems for better MRP
Your manufacturing business moves fast. Your ERP needs to be able to keep up. Outdated legacy systems may be slowing the retrieval of vital data required to make timely decisions. A modern integrated ERP solution,
2: Optimize your purchasing process
A fully integrated system will streamline your purchasing process. Reduce material costs, minimize inventory levels, and improve customer service. All that is achievable when you have full visibility into your supply chain operation. Stay on top of supplier data, internal inventory, and production status and keep everything moving along smoothly.
3: Improve warehouse management
Be informed about local and global suppliers and reduce the impact of cost fluctuations by efficiently managing your warehouse. Choose a data-driven warehouse management system that will streamline receiving and sending orders and ensure you have inventory when and where you need it.
4: Increase insight
The more moving parts involved in your supply chain, the more opportunity there is for error. You need to keep on top of suppliers, materials, customers, orders, and fulfillment. Essential tasks like demand forecasting and supply planning have never been more challenging. It’s vital to know where your inventory and assets are at all times. If you can identify potential issues, you can mitigate them before they impact your product and your customers. For that, you need visibility into all your supply chain components.
5: Focus on exceptional customer service
Your most important asset is your loyal customers. Without them you’d be out of business. So, efficient inventory management is not just about optimizing stock levels. Another goal is customer satisfaction. Customers have come to expect a higher level of service. Running an efficient manufacturing business makes it easier to treat your customers well. They want to know where their orders are and when to expect them. With all your data under one system, you’ll be able to tell them exactly what to expect. Integrating silos of information from across your organization into a single system will help you make intelligent decisions and encourage customer loyalty.
6: Collaborate with key clients
With today’s competition, you need to establish yourself as a trusted trading partner. The more information you provide your customers, the better your communication, the more successful you’ll be at maintaining customer loyalty and avoiding pitfalls such as lost sales, stock-outs, and backorders. Microsoft Dynamics 365BC’s analytics can provide the information and insight you need to maximize sales and strengthen relationships with your partners.
7: Benefit from expert advice
The right ERP solution is key to taking control of your supply chain. Microsoft Dynamics 365BC can give you the control you’re looking for. Put your trust in a time-tested solution and a team that understands the issues your business faces daily. Our experts at ArcherPoint will take a collaborative, thoughtful approach to evaluating your business processes and comparing them with your desired outcomes.
ArcherPoint has been helping organizations transform their manufacturing businesses with Microsoft Dynamics NAV and Dynamics 365 Business Central for over 20 years. We have certified professionals with NAV/Business Central expertise, as well as real-world manufacturing experience.
Would you like to know more about our approach? Download our eBook,