Tag: supply chain strategies

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5 Ways in Which You Can Create a Lean Retail Supply Chain

The retail sector has witnessed significant waves of transformation over the past few years. The widespread adoption of omnichannel retail platforms has created more incentives for the retailers to achieve operational efficiency. With customer delight in the spotlight today, retailers are searching high and low for new techniques by which they can create more value for customers using fewer resources. Ideally, a customer is delighted when they get the right products at the right time and place. To make this possible, it is crucial for companies to have an efficient retail supply chain. As far as retailers are concerned, an ideal supply chain is one that helps them to reduce waste and drive efficiency. Want to know how retailers can implement a lean retail supply chain and streamline their supply chain management? Here are a few quick tips that retailers need to keep in mind before they embark on the journey to achieve maximum value from lean retail supply chain initiatives:SE_Demo2

 Have a holistic view of your supply chain

It is vital for retailers to evaluate themselves in terms of their existing retail supply chain management facilities. It is essential that they have clear-cut answers to these questions:

  • Is the company able to meet the customers’ delivery expectations?
  • What is the executive team’s perception of the warehouse system efficiency?
  • What are the strengths and weaknesses of the current retail supply chain?

Having a holistic view of the supply chain management of the company can help retailers identify the areas that are of priority and the ones that have scope for improvement.

Keep tabs on the inventory

Cutting short the level of stock in hand is one of the essential factors to maintain a lean supply chain. In order to reduce the lead time, retailers can work and coordinate with the suppliers. It is also necessary to keep a check on the reporting systems to ensure that they provide accurate real-time orders and trend forecasting. This will facilitate retailers to ensure that their safety stocks are minimized without any risk of a stock-out or delays that would result in customer dissatisfaction.

Improve logistics efficiency

Retailers must evaluate and review the transportation arrangements with the logistics partners to ensure efficiency and better long-term performance. They must also seek opportunities to implement service-level agreements with shipping partners to gain a level of confidence. Engaging in long-term contracts or consolidating suppliers will help retailers to negotiate better and efficient transportation solutions.

Make lean a company-wide initiative

Adopting a lean retail supply chain is more than just incorporating new techniques or investing in the latest tools. For successfully implementing lean strategies, it is essential for the senior management to communicate the vision and expectations to all employees. The workforce must be empowered to identify the scope for improvement, make recommendations, and operate in an environment that builds morale.

Update the system and software

The information available does not only come handy to manage the warehouse operations efficiently but also aid in evaluating the processes and potential changes. The existing Warehouse Management Systems(WMS) might be obsolete to keep pace with the demands of a lean operation. Therefore, companies must upgrade to the latest warehouse management software and tools to ensure the lean retail supply chain operations.


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Supply Chain Analysis Helps a Specialty Chemicals Supplier Increase Profitability Across Office Locations

Category Overview

Over the past few years, there has been an increase in the consumption of specialty chemicals owing to the increasing urbanization in emerging countries. According to the analysts at SpendEdge, the construction industry in one of the major contributors to the specialty chemicals industry as these chemicals are used as asphalt additives, sealants and adhesives, protective coatings, and concrete admixtures. However, the high cost involved in procuring these specialty chemicals is one of the factors restricting the growth of this industry. As a result, players operating in the specialty chemicals industry space have started leveraging the use of supply chain analysis to increase their profitability across the supply chain.

Moreover, SpendEdge’s supply chain analysis solutions help specialty chemicals industry clients keep track of the supply chain activities in real-time, thereby creating a robust sourcing and procurement process.

The Procurement Pain Point and Insights Offered

A global client in the specialty chemicals industry space was facing predicaments in assessing their supply chain capabilities and compare it to that of competitors in the industry. request free proposalThe client also wanted to identify their major areas of spend across office locations to reduce the overall costs.

To cater to the specific business requirements of the client, SpendEdge’s supply chain analysis specialists tailored a blended research methodology, which included primary and secondary research coupled with qualitative and quantitative data collection procedures.

This supply chain analysis engagement helped the specialty chemicals client identify their major areas of spend across office locations, consequently helping them gain a competitive edge over peers in the industry and significantly reducing their overall costs across the supply chain. Additionally, the client assessed their supply chain capabilities and compared it to that of their competitors to serve their customers better.

Fundamental questions answered in this supply chain analysis engagement include

Specialty ChemicalsBusiness Outcome

The supply chain analysis engagement helped the specialty chemicals client reduce overall costs and increase profitability across the supply chain. This helped them gain a competitive edge over peers operating in the industry.

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green supply chain

Technological Advancements in Consulting Services – Corporate Strategy and Financial Advisory

Organizations are exploring multiple avenues and are constantly increasing their efficiency in a bid to remain competitive in the marketplace. They are constantly taking strategic and tactical decisions to tweak functions within an organization in a quest to become the best. However, it cannot be possible for them to possess information relating all industry verticals and business functions. In addition to that, expertise relating to a particular function can lie outside of the organization. Consulting service providers have emerged onto the scene to help such businesses achieve excellence in every field and assist in their decision-making process. For instance, financial consulting services firms employ specialists who work with the company and provide them with professional advice to manage their financial transactions better. The market for consulting services has currently witnessed growth due to major technological advancements that offer more than just a human expertise.

Innovations in Corporate Strategy Consulting Services MarketCorporate Strategy

  • Portfolio analyzer helps buyers to view a visual representation of their current portfolio and potential portfolio for expansion. This application assists the decision-making process by identifying high-growth and high-profit businesses and suggests the current level of investment in such business units
  • Cloud-based CRM solutions help capture all client interactions and helps identify gaps which assist in discovering business opportunities to accelerate growth. For instance, Adams Consulting increased their business by 60% using CRM software to gain new clients and maintain existing ones
  • Deloitte Consulting and Accenture are using integrated ERP and professional services automation which can provide real-time insights on problems and notify the user instantly, without having consulting services firm to perform repetitive administration tasks. The ERP suite can reduce the cost base by about 50% and invoicing cost by 25-75%

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Innovations in Financial Advisory and Consulting Services Marketfinancial advisory

  • Data analytics is increasingly being used across all business functions, and financial consulting is no exception. Data analytics tools can process the large volumes of data produced by finance departments, and relative insights and findings can be communicated to the clients to formulate financial strategies
  • Financial data is of a very sensitive nature and makes data protection their top priority as a result. Consulting services firms are using advanced cryptography and PKI tools to protect such confidential data
  • Delloite launched iDeal, an integrated system of M&A analytics tools, process, and techniques to extract potential target’s data to deliver real-time insights, which, in turn, increases the efficiency of M&A phase

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Supply Chain Assessment Helps a Food Service Client Increase Profitability Across Their Supply Chain

Category Overview

Over the years, the food service industry has been distinctively complex considering the variables such as limited time offers, mobile couponing, dynamic flexible marketing, and the short lifecycle of new products. Moreover, the growing consumption of meals at food service establishments, rising demand among consumers for different types of foods, and convenience offered by such services are some of the recent trends influencing the food service industry. However, the food service industry is vulnerable to changes such as a spike in commodity prices and shifting consumer attitude towards health and nutrition may pose a significant challenge.

As a result of such challenges, companies in the food service sector have started adopting supply chain assessment studies as it helps food service companies implement lean practices throughout the business and focus on customer value delivered with reduced wastage in its processes and systems. Also, such solutions help clients gain profits across the supply chain.

The Procurement Pain Point and Insights Offered

A global firm wanted to plot a model, assess their current maturity, and create a roadmap for improvement across their supply chain. The client also wanted to assess their supply chain capabilities and determine how efficiencies and performance compare to best practices from their competitors in the industry. Additionally, they wanted to gain a deeper understanding of the major areas of spend across their office locations through a supply chain assessment study.request free proposal

The supply chain assessments experts at SpendEdge carried out a comprehensive research methodology comprising of primary and secondary research and qualitative and quantitative data assessment to cater to the specific category requirements of the client. During the course of this supply chain assessment study, the client gained insights on purchasing patterns and superior sourcing strategies that were adopted by their competitors.

Additionally, SpendEdge provided benchmarks across their major spend areas and supply chain structure. As a result, the food service client gained a deeper understanding of the profitability across supply chain.

Key questions answered in this supply chain assessment study include

supply chain assessment

Business Outcome

The supply chain assessment study helped the client achieve substantial savings over the previous years. Additionally, SpendEdge’s supply chain assessment study helped the food service client reduce their overall costs to manage suppliers through supplier rationalization. Furthermore, they gained insights on numerous pricing models and cost components, which helped them increase profitability across the supply chain.

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green supply chain

Why Green Supply Chain is the Need of the Hour?

With growing environmental concerns, the concept of sustainability and sustainable business practices have taken a front seat. Consumers are becoming more aware and companies are compelled to label their brands with a green supply chain to prove their trustworthiness. They are forced to answer questions regarding their processes and green supply chain, their carbon footprints, disposal and recycling practices. But how can companies develop a green supply chain? By adopting structural and methodological shifts in any and all supply chain strategies and/or actions.

Wondering how a green supply chain can impact the profit margins of companies? Request a free demo from our experts now!

Factors Compelling Organizations to Implement a Green Supply Chain

There are several factors that play a significant role in order to drive green supply chain in an organization which are as follows,

  • Mounting power and fuel costs have forced organizations to opt for low power consuming IT solutions, renewable energy sources and increased focus on recycling wastes.
  • Increase in greenhouse gas emission has led to conscious efforts to reduce organization’s carbon footprints.
  • Climate change across the globe at an alarming rate is the main cause of concern.
  • Environmental policing to implement a carbon credit system has coerced organizations to follow certain process and product related specifications.
  • Increased awareness among the public of the environmental changes and its forecasted impact.

Want to know how companies are making record profits with the help of a green supply chain?

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Benefits of a Green Supply Chain

green supply chain

Transforming your traditional supply chain to a green supply chain requires the inclusion of the ‘environment’ factor in each and every stage of the product development and manufacturing process. It requires CPOs and supply chain managers to develop innovative and efficient environmental technologies and processes to tackle the ‘green’ issue. This demands the organization to eliminate waste in each phase of the supply chain, which can be achieved by lean manufacturing as it emphasizes on economies of scale in production while stressing on high quality environment friendly products to meet customer demands. It contributes by reducing inventory levels, and saving space and energy costs. Besides these, there are several ways to bring the green hue in your supply chain such as,

  • Improves reverse logistics as it emphasizes effective re-use, repair, recycle and re-distribution of containers and pallets, packaging materials thereby reducing pollution levels.
  • Green supply chain management will help organizations gain a competitive advantage and thereby improve the company reputation in the market and help in attracting new customers.
  • It will lead to reduction in operation costs as resources are re-used and recycled thereby increase the production and process efficiency.
  • Leads to improvement in product quality as processes are streamlined, thereby increasing customer delight and loyalty.
  • Last but not the least, a benefit of greening your supply chain is that it will positively impact the environment.
  • Want to know more about benefits of green supply chain, request for more information

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