5 Ways You Can Add Value to Your Supply Chain
Companies are built around the value that they add to 3 core areas; the services they provide, the customer experience they facilitate, and the work culture they create.
These are crucial points of strength that any industry could certainly use more of. And that sentiment is echoed through the concerns of some of our own clients who have come to us in search of a way to improve these exact areas. And when companies start shifting around their supply chain operations like that, it is usually because there is a clear and present need for it.
So today I am going to give you 5 tips that you can put into practice right away to start adding more value to your supply chain.
Give Your Customers More Flexibility
One thing that really lends authority and value to your company is a little thing that we like to call flexibility.
When trying to build more value into your operation, you really need to be considering what sort of control and personalization you are giving to your customers and clients. By giving them flexible terms or additional, optional modes of delivery, you show that you are willing to build long-term, sustainable relationships.
If anything, it could be viewed as a show of trust and trustworthiness. I think we can all agree that is a value we wish more companies would start standing by.
Automate Your Processes
We are all about making the most of the latest and greatest in automation methods and technology.
By integrating things such as a solid Transportation Management System (TMS) combined with a reliable 3PL service such as Redwood Logistics, you can build phenomenal value.
Automation is quickly becoming the way of the future for many different industries. As this trend grows, those who don’t get on board will surely become relics of the past as they struggle to keep up. Not only does automating some, if not all of your processes bring more value to your company… it might just be crucial to its survival in the coming years.
Drive More Engagement
Engaging with your employees, partners, customers, and suppliers is absolutely necessary in building trust and authority, which as I mentioned previously puts more value back into your company.
These relationships are the very life-force that is powering your company and therefore need to be nurtured as much as possible. Strong relationships don’t just happen, they take time and engagement from both sides.
By collaborating with your employees and other stakeholders, you will be able to leverage knowledge and resources that were not already readily available options.
Knowledge + resources = value.
Reduce the Number of Suppliers
Reducing the number of suppliers that you do business with is probably one of the best ways to streamline your services and leave your customers with a better overall experience.
One of the easiest ways to go about this is by doing something I mentioned in the previous section; engage.
Engage your partners in discussion and ask them to perform some of the more remedial functions that your team would have to do at the warehouse. This is where you can start to make the most use of a 3PL servic.
By having your partners ship to your 3PL to have orders completed to customer specifications and then shipped directly to them from there, you cut out a lot of legwork for yourself. That extra time and resource of labor can then be reinvested into another area of your supply chain.
Control Labor Costs
Labor costs can quickly add up as your company grows and expands its reach.
There are numerous ways to cut costs when it comes to manual labor roles, but one way that is revolutionizing supply chains the world over is the implementation of automation technology. Conveyor belts and drone tech for the yard can go a very long way in your value-adding pursuits as it keeps your workers working instead of walking, searching endlessly for SKUs, and juggling a constantly fluctuating inventory.
Ultimately, the best way to manage the ever-rising costs of labor is simply by better utilizing the labor resources you already have through a healthy admixture of automation.
While all of these tips are great starting points, your value-adding efforts should never stop. In order to stay relevant in your industry, you really have no choice but to constantly build in more value. The goal is to satisfy your existing relationships while attracting future prospects.
If you have been struggling with this, we may be able to help! Just head over to the contact page and drop us a line.