What are the biggest challenges of supply chain management?
6 River Systems, a robotics company focused on revolutionizing fulfillment, put together a nice panel of supply chain pros to discuss the biggest challenges in supply chain management and how to overcome them.
Here’s a sampling of what they listed:
- Not enough working capital due to overstock scenarios
- Being able to realistically see and safeguard against unforeseen delays somewhere in the chain
- The downstream effects from those delays including lost sales
- Changing customer demands and buying behaviors, especially with the ecommerce last mile race
- Cost as a deterrent to implementing technology
- Deciding where to send goods, how much to send and through which channels the goods should be shipped and delivered to minimize the delivery/logistics costs and to maximize sales
- Automating/digitizing supply chain data
- Cost control in moving goods on a global scale
- Shortage of skilled talent
- Manual processes, waste and costly mistakes in planning – still the status quo
- Poor communication
- Sudden emergence of trade disputes and resulting move to a new facility or country for production
Read their full article here.
The Blue Ridge platform is built to address these inefficiencies, uncertainties and communication problems – freeing up significant working capital and embedding agility into supply chains.
If any of these supply chain management challenges are putting a wrench in your business, schedule 15 minutes with one of our experts.