The supply chain process has grown increasingly more complex over the years. The explosion of technology and eCommerce has allowed businesses, small and large, to achieve unthinkable levels of productivity and reach. Still, though many solve problems through supply chain technology, the system has become so vast and complicated, creating supply chain roadblocks that can be challenging to overcome.
Luckily, supply chain managers have options even when the system gets messy. Here are four common supply chain challenges and their solutions.
Handling Inventory
There are many steps that go into managing a business’s inventory. It’s essential to have insight into your inventory data to prevent order errors and keep up with demand. If you don’t know how many items you have in your inventory, it could result in your business accepting orders when you’re actually out of stock. Customers can become irritated if their orders are canceled, so it’s necessary to keep a hand on the pulse of your inventory.
EDI systems and software can allow your business to keep track of inventory to ensure that you don’t run into supply chain roadblocks. Many EDI solutions can measure demand over time, offering your business insight into how many items it should have in storage for the next quarter to meet customer needs.
Meeting Customer Expectations
In a world where customers can purchase anything from anywhere and get it in a couple of days (or even a couple of hours), it can take a lot of work to keep up with expectations. Customers expect businesses to process orders quickly and efficiently, and they must coordinate with their warehouses and distributors to ship products as soon as possible. Minor errors can lead to massive disruptions in the supply chain process, and customers can walk away if they run into problems with their orders.
EDI solutions can not only prevent many errors from happening but also provide tracking capabilities and easier invoice management. These simplified processes make business easier for you and your customers, keeping them happy and satisfied with your service.
Managing Suppliers
Good relationship management with your suppliers is essential to running a successful business. Many businesses are juggling multiple suppliers, and keeping them all happy and organized can be a challenge. The key to supplier management is good communication and management software.
Supply chain managers must choose reliable, affordable suppliers, which takes a lot of time. Then they must determine how to carry out order fulfillment, shipping, and everything else with each supplier. If trading requirements differ for each supplier, systems can get complicated quickly. That’s where EDI compliance comes in.
Noncompliance
Has your business ever had to deal with a supplier that delivered a shipment late? Maybe you’ve been the trading partner that forgets an order from time to time. EDI compliance is a solution to these inevitable errors and inconsistencies.
Even if you and your trading partner both utilize EDI systems, you may need to run your operations in a different format. That’s why many businesses require trading partners to become EDI compliant, which means sharing a standard EDI system so that it’s easier for deliveries to arrive on time and operations to run smoothly.
EDI providers like eVantage Direct can help your business become EDI compliant. In fact, you can solve most supply chain challenges by implementing quality EDI services. That’s why eVantage Direct is here to help your business set up an effective EDI system. Give us a call today!
