Tag: supply chain planning process


How Can Companies Achieve Competitive Supply Chain Planning?

With the rise in competition, the need to reduce costs and eliminate inventories has increased for companies. They need to link their production and procurement activities more tightly with the actual demand to sustain themselves in the market. An effective supply chain planning enables companies to keep their production and demand in sync and address customer demands.

Moreover, with collaborative planning in the supply chain, companies can consolidate sales, production, inventory and purchasing information, and become more demand-driven depending upon the real demand. Following such an approach makes companies more responsive by enabling them to perform simultaneous material and capacity planning tasks across multiple facilities and time horizons. Furthermore, it can help them to execute holistic plans, spanning from long-term aggregate planning to short-term detailed schedules.

At SpendEdge, we understand the impact that competitive supply chain planning can have on businesses. Therefore, our team of experts has highlighted a few critical steps that are needed for achieving competitive supply chain planning.

Want to know how an effective supply chain management system can increase the efficacy of your organization? Get in touch with our experts today!

How to achieve competitive supply chain planning?

#1 Move planning closer to demand

Supply chain planning allows companies to shift their planning processes closer to demand by synchronizing production and purchasing activities with the actual demand. This enables companies to increase responsiveness, address changes in the market, and transform themselves into demand-driven organizations. Also, with demand-based supply chain planning, companies can easily decrease inventory levels and improve customer service.

#2 Synchronize supply chain planning with enterprise planning

By synchronizing supply chain planning with the wider business planning process, companies can wisely optimize profitability if in case any unlikely event or situation occurs. They can even deploy sales and operations planning (S&OP) solutions to improve enterprise-wide collaboration.

Wondering how to synchronize supply chain planning activities with enterprise planning?

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#3 Improve demand visibility

Supply chain planning aggregates forecasts and sales orders created by customers and local sales offices and improves visibility into enterprise-wise demand. This allows companies and their management to analyze the kind of demand being generated in the company. This demand can further be adjusted based on the accuracy of the various demand streams.

#4 Create supply chain resilience

Supply chain planning helps companies to plan and react quickly in case of supply chain disruptions.  This increases the profitability of organizations and helps them to recover operational capabilities after the disruption has happened. Also, it helps in better product positioning and helps companies to gain substantial benefits from disruptions.

Still not sure how a potent supply chain can give better results for your organization? Request a free demo below!


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4 Supply Chain Planning Challenges Businesses Need to Surpass in 2019| SpendEdge

The recent paradigm shift of modern business management compels individual businesses to compete in terms of supply chains, rather than an autonomous entity. This makes it vital for businesses to integrate the company’s intricate network of business relationships and respond quickly to changing consumer demands and fluctuating market conditions.

It has considerably increased reliance on suppliers and has created the need for organizations to manage supplier relations, information, and contracts effectively. Moreover, organizations require supply chain planning systems to establish a streamlined supply chain planning process that can derive the best value from their spending. Also, a supply chain management system is important to gain 360-degree visibility into their supplier ecosystem. However, there are certain challenges companies face during supply chain planning.

At SpendEdge, we understand that an effective supply chain planning is crucial for almost all industries to run their businesses smoothly. Therefore, in this blog, we are highlighting the key supply chain planning challenges faced by companies.

Interested in running your business without interruptions? Get in touch with our experts and leverage the benefits of an effective supply chain management system for your organization.

Supply chain planning challenges faced by companies

Increasing complexity

Many times, increasing product complexities drive excess costs for companies. Not only this, the amount of stock keeping units (SKUs) increases and hits product cost targets as well. Firms involved in the omnichannel business (multiple-channel distribution) often face this challenge while supply chain planning.

Changing market dynamics

The behavior of consumers depends upon different cultural, social, personal, and psychological factors. It creates pressure on companies to reinvent their products and introduce new products at regular intervals. However, businesses need to ensure that they keep manufacturing costs low as trends don’t last long and the majority of products have short life-cycles. This is a common supply chain planning challenge that makes it imperative for businesses to build strategies that can adapt to fluctuating demands and production needs.

Rising transportation costs

As consumer demands continue to grow, enterprises are compelled to broaden their portfolio to attract the rising number of buyers. Organizations are emphasizing on fast frequent delivery through one way or the other. Companies such as Amazon have turned to the supply chain to employ new technologies. This has further increased pressure for firms to realize the advantages of value chain objectives.

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Procurement has always been considered as a medium to save the cost of goods sold but in the new age, procurement plays an integral role in business expansion. It is crucial for supply chain planning and making businesses competitive. Also, procurement experts can play a significant role in the branding of new products and market development after the cost waste and discrepancies have been sorted.

How to achieve competitive supply chain planning?

To succeed in the growing global market and achieve a competitive supply chain planning, companies need a follow these five steps:

  • Move to real-time supply chain planning
  • Integrate supply chain planning with the organization’s planning
  • Predict the demand of customers
  • Leverage real-time data across all points of the supply chain
  • Ensure flexibility to cope with disruptions



Top Five Benefits of Supply Chain Planning | SpendEdge

Continuously changing market conditions and consumer demands have made it vital for businesses to evolve rapidly and be prepared for unforeseen obstacles and circumstances in their supply chains. Today, businesses are under the pressure to develop new products and keep up with the latest trends while minimizing their total manufacturing costs. Without some sort of a comprehensive plan, businesses may fail at order fulfillment, which, in turn, can result in revenue loss.

Reducing life cycle of products demands a flexible supply chain that can be employed for manufacturing other products according to future needs. This requires enterprises to anticipate the demand for upcoming products and improve supply chain performance, making it compulsory for companies to follow the best practices in supply chain planning for better supply chain management.

At SpendEdge, we understand the impact that an effective supply chain planning can have on your business. And to help companies sustain themselves in the marketplace, our team of experts has highlighted five crucial benefits that companies can leverage through supply chain planning. But before we read about the advantages of supply chain planning, let’s know more about it:

What is supply chain planning (SCP)?

Supply chain planning basically refers to the companies’ ability to make accurate forecasts pertaining to their future demands. It is a process which requires companies to balance supply and demand and manage their assets to optimize the delivery of goods and services from suppliers to customers. Supply chain planning (SCP) provides strategic and tactical planning support to help deal with supply, distribution, manufacturing, planning, production scheduling, and forecasting.

Want to develop an agile supply chain that can address the rapidly changing market demands? Get in touch with our experts and know how our supply chain planning solutions can help you.

Top five benefits of supply chain planning

Retain customers

When companies support their supply chain planning with integrated demand forecasting, they are in a position to address spikes in demand. This reduces the chances of stockouts and helps companies fulfill their customers’ demand when they need it the most.  Meeting customers’ demands helps companies to win their loyalty and ensure sustainable profits.

Stay on top of demand

By implementing effective supply chain planning strategies, businesses can forecast the demand for their products. They can accommodate shorter product life cycles, the impact of fluctuating economies and emerging markets, and enhance their supply chain planning systems while responding to changes in demands. 

Reduce overhead costs

New businesses usually lack the competency and market knowledge required to reduce the prices of their products without affecting the overall operation in a drastic manner. With effective supply chain planning, companies can reduce costs in the production process without compromising the quality and price of the final product.

Increased production costs can affect the overall costs of products drastically. Request a free a proposal and know how an effective supply chain strategy can reduce the overhead cost for your organization.

Minimize delays

Many supply chains are plagued by delays due to some or the other reason. They constantly struggle with late shipments from vendors, issues on production lines, and logistical errors that affect their supply chain management system. Effective supply chain planning help companies avoid all such issues down the line.

Optimal shipping options

As new ecommerce companies continue to flourish, buyers have plenty of options to purchase products. In such a scenario, companies need an effective shipping plan to meet the demands of the marketplace. They need to ship products in a quick and efficient manner to ensure the success of their business. With the help of an efficient supply chain, businesses can determine the best way to ship their products and reduce costs at the same time. (more…)

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