Organizations can use several tools to improve supplier management. These include implementing a robust distribution network, monitoring cash flows, establishing information conduits, and tracking inventory. A robust distribution network ensures that all parts of the supply chain work in sync. Monitoring cash flows helps control payment terms and conditions with various groups within the supply chain. Establishing information conduits ensures that data is distributed promptly and properly to relevant recipients. Tracking inventory helps monitor the whereabouts of the inventory, understand how much product is available, how much is needed, and if there is any damage, decay, or theft.
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