Damage, decay or theft of inventory in supply chain management can be prevented by improving your distribution network, monitoring cash flows, establishing information conduits, and tracking your inventory. Employing tracking software or internal spreadsheets can help monitor the whereabouts of your inventory, allowing you to know how much of your product you have, how much you need, and if there is any damage, decay or theft.
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Improve your distribution network – this can be done through a holistic approach or a cluster view. "In a holistic approach, you review essential parts in your distribution network and try to figure out how the parts work in sync," the experts say. Monitor cash flows – cash flow control is an important tool that various organizations use to improve supplier management. It is crucial to monitor payment terms and conditions with several groups within the supply chain and come up with an efficient plan to understand the technology used for monetary transfers. Establish information conduits – ensure data is distributed promptly and properly to pertinent recipients, so you can establish proper information channels. Track your inventory – employ tracking software or internal spreadsheets to monitor the whereabouts of your inventory. This will help you to know how much of your product you have, how much you need, as well as if there is any damage, decay or theft. Other things to keep in mind ...