One supply chain management company has highlighted the benefit of a more widespread approach to using supply chain profit links (SCPL) to help identify areas where a supply chain can reduce costs for a business.
The company is testing the theory of assessing quantitative data concerning the inventory and sales figures supplied by retailers in order to understand if there are any areas in which costs could be cut or service improved.
"Due to the current economic climate and reduced credit availability, there is a heightened interest level within the retail community for SCPL services. Now more than ever, there is a growing need to utilise technology throughout the supply chain, to maximise shrinking margins," said Randall Fields, chairman and CEO of the group introducing the technology to create such analyses.
Smaller companies without the backing or management personnel to introduce new technologies to their supply chain management could look into contracting a third party supply chain management company, which could offer fresh insight into ways of organising their supply chain.
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