Today more than ever, the efforts of mass consumer companies are aimed at ensuring that their products reach the consumer effectively. This implies improving supply chains to optimize processes. The supply chain is a network of companies and distribution means involved in the different processes and activities. These activities produce value in the way a product reaches the final consumer. The supply chain helps you bridge the gap between demand and supply in the market by making sure that both are efficiently met.
In the recent past, the main work of those managing this chain was supply, reduction and cost management, and compliance with users. After the eruption of technology, Big Data, and AI, their role became absolutely strategic. Currently, they are required skills to contain costs and improve sales.
Bee Logistics, an expert supply chain management services provider, ensures that this new scenario implies the need for clean, coherent, and connected data. We also ensure access to these when they are needed, either for the purpose to carry out analysis or during the activity.
Companies have to face some major challenges with their supply chain management. These challenges can be increased costs throughout the supply chain and complexity in the chain because of multiple channels to market. Other challenges include chain volatility, the consumer demand that drives the need for improved speed, quality and service, and risk creating pressure.
However, there are loads of data as a big challenge involved when dealing with the supply chain. The supply chain of companies then faces great challenges related to data and its management. Look at the following challenges your supply chain might face:
1. Globalization
As consumers receive the rain of offers daily, companies must maintain their competitiveness in the globalized world. So, companies need to reduce the costs of managing the supply chain. How? The answer is “business intelligence platform.” The platform ensures the negotiation between companies and their suppliers based on the stored information and its management. This approach can transform into a 360º vision for all those involved. This allows optimization of decision-making capacity and facilitates the generation of stronger alliances with a long-term orientation.
2. Innovation
The customer expects the brand of the product that he prefers to be able to anticipate. Therefore, the customer makes important decisions, such as withdrawing an item from the market that does not meet the quality conditions. To do this, everyone involved in the supply chain must know the data on each product in real-time. Today, innovation favors the customer, who already knows, for example, the advantages of IoT, and therefore demands the best service.
3. Shopper’s Expectations
Today’s consumer is very informed, searching the internet and at the same time maintaining their habits of visiting stores. Studying their behavior to find out their baying cycle phase and what their needs are is a challenge. Although this raw information does not add value, the knowledge provided by the appropriate tools does facilitate this work. Omnichannel, along with the empowerment of business users, are the weapons to continue improving the brand position in the market.
4. Regulation
Abiding by the market regulations is essential for companies. However, compliance with the rules and regulations that regulate the market does not only seek to avoid fines and penalties. The brand reliability and the business reputation could be affected at some point in the chain. This is a major challenge for the modern channel and access to data. The only way to minimize risk is data accuracy, quality and up-to-date information.
5. Dynamism
The agility of the chain will allow the business to react appropriately and promptly to changes. For this, the businesses need to nourish themselves with the complete, integrated, and quality information offered by business intelligence. It is the data that reduces uncertainty and enables more efficient management. Volatility, relationships with suppliers, the administration of the different distribution and sales channels, all require flexibility. As a result, you can access coherent, clean, and connected data from end-to-end of the supply chain.
6. Balance Between Market Demand and Supply
A final challenge that companies bring could be the need to maintain a balance between demand and supply in a market. This market is also becoming larger and more dynamic. When the amount of merchandise available does not match and is below or above its demand, companies have to bear heavy losses. Only business intelligence is once again the answer to all your challenges. You will have a complete panorama of what is happening in the field and in real time with a certain product.
Bee Logistics, a supply chain service in Saudi Arabia, is well-equipped and has a well-organized team to help businesses in this area. If you want to accurately sort and work with data in the right fashion, we help you with supply chain management. Let us serve you through our data management expertise.
