Some best practices in supply chain management include improving your distribution network, monitoring cash flows, establishing information conduits, and tracking your inventory. Improving your distribution network can be done through a holistic approach or a cluster view. Monitoring cash flows is crucial for improving supplier management. Establishing proper information channels ensures data is distributed promptly and properly. Tracking your inventory helps you monitor the whereabouts of your inventory, 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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