Supply chain management can be optimized for better business efficiency by improving the distribution network, monitoring cash flows, establishing information conduits, and tracking inventory. A holistic approach can be used to review essential parts in the distribution network and understand how they work in sync. Cash flow control is an important tool for improving supplier management, and it's crucial to monitor payment terms and conditions with various groups within the supply chain. Establishing proper information channels ensures that data is distributed promptly and properly. Employing tracking software or internal spreadsheets to monitor the whereabouts of your inventory can help you understand how much product you have, how much you need, and if there is any damage, decay, or theft.
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