In times where the country goes into uncertainty, it can hit hard on all industries, and just like the domino effect it will hit your supply chain.
In this article there are four ways to support the effective flow of your supply chain using the 4R’s. Also remember that a valued customer will be a returning customer, and they will want to know every step of the process until their order reaches them.
The responsiveness of your business needs to be very clear and well communicated. In a world where everything seems to turn digital, it’s vital that your business adapts with the times or you will be left behind. Digitalizing the supply chain will also mean quicker production for the manufacturers as they begin to use AI, Robotics and statistics.
Most supply chains can be monitored by a computerised machine that would then send data of the stock, allowing a free flow of data and regular updates
Another way of being responsive is with the use of social media as these platforms allow for quick responsive messages and group conversations, also letting current customers share views on your business publicly, will potentially result in more business.
When creating a supply chain also keep in mind the gaps in the market and how you can differ from your competitors. If you can offer your customer exclusivity of having something before others you will be adding more value to your business. This includes innovation within technology, business operations and materials.
Customers want a Reliable supply chain so that they know they are getting stock from the company, if they aren’t reliable this will give them a bad name and tarnish their brand. This could result in other retailers not working with them, because of the lack of stock they receive.
Not being reliable could also result in the loyalty of their consumers as if their consumers aren’t getting their stock they will find another company to buy rather from.
Resilience supply chains will be needed due to the uncertainty of business and it’s environment, making sure that there’s always a continuity plan, allowing nothing to stop or slow down the processes.
This would mean making sure that there is enough stock if there becomes a surge in the products, this may also include using the excess stock, also making sure that if the transport link is affected by any problems that there’s alternative routes or methods to get the product to the customer in a convenient time scale.
Relationships are important within the supply chain and pose more importantly if you are exporting to another country, in a different time zone. You need to make sure you communicate clearly and keep in regular contact with your customers. This is to make sure that stock levels are being produced frequently and able to be exported when needed, so that there isn’t a lot of excess stock left over, as this could cause the business major loses, for over producing and not being able to sell the goods.
Building a relationship with the customers is also important as it could lead to loyal with your business, this can be achieved through the use of social media sites as they are widely used throughout the world.
The social media platforms can be used for updating customers on the activity of your business to make them feel a part of it, as well as this your business will be gaining knowledge of consumer trends from the data and research captured on social media.
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