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    Responsive S.C

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    FARAI KABA
    This document provides information on building a responsive supply chain, including four key methods: 1) gaining better visibility with software; 2) collaborating with all partners; 3) conducting multiple forecasts; and 4) establishing supplier contracts. A responsive supply chain is agile and flexible to meet changing customer needs and demands.

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    Responsive S.C

    Uploaded by

    FARAI KABA
    33 views9 pages
    This document provides information on building a responsive supply chain, including four key methods: 1) gaining better visibility with software; 2) collaborating with all partners; 3) conducting multiple forecasts; and 4) establishing supplier contracts. A responsive supply chain is agile and flexible to meet changing customer needs and demands.

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    This document provides information on building a responsive supply chain, including four key methods: 1) gaining better visibility with software; 2) collaborating with all partners; 3) conducting multiple forecasts; and 4) establishing supplier contracts. A responsive supply chain is agile and flexible to meet changing customer needs and demands.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    33 views9 pages

    Responsive S.C

    Uploaded by

    FARAI KABA
    This document provides information on building a responsive supply chain, including four key methods: 1) gaining better visibility with software; 2) collaborating with all partners; 3) conducting multiple forecasts; and 4) establishing supplier contracts. A responsive supply chain is agile and flexible to meet changing customer needs and demands.

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    Responsive Supply Chain | 4 mins read

    How to Build a Responsive


    Supply Chain - 4 Methods

    By Hanh Truong
     , February 05, 2021
    Table of Contents
     What is a Responsive Supply Chain?

     What is Supply Chain Efficiency?

     How to Build a Responsive Supply Chain

     1. Gain Better Visibility with Software

     2. Collaborate with All Partners

     3. Conduct Multiple Forecasts

     4. Establish Supplier Contracts

    While it is important that a business can efficiently and quickly deliver goods to
    shoppers, it is also crucial that its supply chain is responsive to market demands.

    By being responsive and adaptive to changing customer preferences, companies can


    gain a competitive advantage, minimize instances of lost sales, and achieve consumer
    satisfaction.

    What is a Responsive Supply Chain?


    A responsive supply chain is agile and flexible enough to meet the needs of the
    company and its customers. Organizations that have a responsive supply chain are able
    to ensure 4 key business functions.

     Order Fulfillment Accuracy - All customer orders are accurately fulfilled and
    quickly delivered to their end destination.

     Scalable Delivery - Sales volume and demand continue to change due to


    economic fluctuations, new seasons, and weather. A responsive supply chain can
    promptly adapt to these shifts and satisfy consumer expectations.
     Communication - There is an open line of communication between the business
    and its customers.

     Customer Happiness - Customers are more satisfied when they have the freedom
    to ask questions, return products, or edit their orders. Providing high-quality and
    flexible customer service will ensure overall satisfaction.

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    effortless.
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    What is Supply Chain Efficiency?

    Efficient supply chains help businesses save money and maximize their profit margins
    since the flow of goods is moved in the most cost-effective way.

    This is important for modern companies because if supply chain expenses are high, it
    can impact the prices of products. Consequently, this can affect a brand's ability to
    compete with other companies who offer the same goods for better prices.
    Unlike supply chain responsiveness, efficiency emphasizes protecting a business's
    bottom line and ensuring that end products are priced competitively.

    There are 4 key benefits of supply chain efficiency.

     Optimization - Shipping routes, warehouse layout, and workforce productivity are


    optimized. Wasteful assets, such as unused trucks and space, are reduced or
    eliminated to prevent unnecessary spending.

     Reliable Suppliers - Reliable suppliers ensure goods are delivered at an agreed


    time and in the right quality and quantity, allowing the business to satisfy customer
    demands seamlessly.

     Inventory Management - Proper inventory control helps management make sure


    they have optimal levels of stock at all times.

     Customer Satisfaction - Excellent customer service is provided since shoppers


    can get the goods they want promptly and at an affordable price.

    How to Build a Responsive Supply Chain


    One of the proven ways that a company can satisfy the ever-changing demands of
    consumers is by building a responsive supply chain. This type of supply chain can also
    help owners mitigate disruptions, such as emergency crises and unreliable suppliers.

    There are 4 best practices to create a responsive supply chain.

    1. Gain Better Visibility with Software


    Businesses that implement new software developments to their supply chain
    management can gain clearer visibility into the movement of their goods. Modern
    inventory management software, for example, allows business users to track their
    inventory levels in real-time and monitor their waste using a mobile app.

    These tools also offer reports and insights into spending and profitability, enabling
    management to make decisions about their inventory swiftly and to procure new
    products to ensure they are meeting customer demands.

    Online employee scheduling software that makes shift planning


    effortless.
    Try it free for 14 days.

    Start My FREE Trial

    2. Collaborate with All Partners


    It is important that businesses thoroughly communicate and inform their partners,
    suppliers, and third-party logistics providers of new purchases or updates regarding the
    status of an order.
    This guarantees that every one that is involved with the movement of goods is on the
    same page, which will minimize any inaccuracies or miscommunication.

    3. Conduct Multiple Forecasts

    Projecting demand can be difficult and if inaccurately done, it can lead to lost sales or
    excess inventory in the warehouse. Instead, businesses should conduct multiple
    forecasts that showcase different potential outcomes, such as one with low demand and
    another with high demand.

    This will help management plan various strategies and be prepared to deal with
    whichever outcome that materializes.

    4. Establish Supplier Contracts


    Creating a contract with suppliers will ensure that they agree and adhere to the
    expectations and specifications of deliveries.

    When outlining a contract, management teams should consider the supplier's profit
    margin and their business values. This will ensure that the agreement is fair for both
    parties involved.
    There are two forms of contracts that can be created.

     Flexible Contracts - These documents detail the supplier performance that is


    expected by the business. They are considered flexible because it is an outcome-
    based contract; meaning production orders are fulfilled based on demand. This
    helps companies satisfy customer needs quickly as possible.

     Partial Contracts - This type of contract enables distributors to maximize their


    capacity and improve the efficiency of their transportation route.

    A responsive supply chain is crucial to a company's ability to stay on top of turbulent


    market trends and consumer demands. By using these tips to build supply chain
    responsiveness, brands can strengthen their agility and safeguard their profitability.

    Submit
    — Restaurant Management & Growth Blog — Responsive Supply Chain
     How to Manage Supply Chain Disruptions - COVID-19 & Beyond
     How to Manage Supply Chain Disruptions - COVID-19 & Beyond
     7 Types of Inventory Risks in an Organization
     Lean Manufacturing Concept & Principles for Optimization
     How to Build a Responsive Supply Chain - 4 Methods
     5 Most Common Supply Chain Challenges and How to Solve Them
     Guide to the 3 Elements of Supply Chain Demand Planning
     What is Risk Mitigation? Process & Strategies for Businesses
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