Sandeep NairHead Of Business DevelopmentOctober 27, 2022
How Custom Software Helps Build A Supply Chain With No Weak Links
If your supply chain isn’t delivering the transparency and visibility that helps you get repeat business, it’s time to reimagine your supply chain through custom software development.
Modern supply chains are a network of interconnected partners, processes, and data. Multiple back-end operations come in the way of delivering products and services to your customers. To stay relevant and competitive, you should have a streamlined flow of goods and data from the point of origin to the point of consumption.
A custom supply chain management software lets you unify all the components that drive the entire supply chain, ensuring no weak links in your supply chain.
Why is Supply Chain Management Important?
Supply chain management is the backbone of your business that minimizes the cost, waste, and time in your production cycle.
When there is limited visibility and control over your product’s journey from conception to delivery, your margins fall, and your competitors make their way up. Supply chain management (SCM) helps overcome this by allowing you to measure KPIs, including daily performance, expenses, production service rate, inventory turn, production time, return rate, return on assets, and so on. An effective Supply chain management
Identifies Demand Patterns
Through data analysis, manufacturers can predict demand patterns and adjust their production levels to meet their customers’ demands in real time.
Optimizes Price Dynamically
Using machine learning and AI algorithms, businesses can set prices for products based on the existing state of demand in the market, even for hard goods (e.g. Amazon Prime Day and Black Friday deals).
Improves Inventory Allocation
Work schedule and resource allocation are done based on the evaluation of actual orders, predicted sales orders, and availability of raw materials.
Why Build Your Own Custom Supply Chain Management Software?
Supply chain software development allows your business to leverage the latest and best-in-class technologies to automate routine business processes and enhance operational efficiency.
Here’s how custom software development helps you build a resilient supply chain with no weak links:
Integrated, Single Source of Truth
Custom SCM software can integrate multiple systems or processes – warehouse centers, suppliers, distributors, order management, billing function, inventory, CRM, ERP, and more. The software brings together disparate systems, third-party services, and legacy applications to create a single source of truth, eliminating miscommunication. Managing the entire work from a single, centralized location improves your team’s productivity and strengthens your workflow without leaving room for any missing links. Moreover, you don’t have to juggle multiple applications to perform each function.
Custom supply chain software allows multiple stakeholders in the SCM network to be on the same page. For example, a fleet manager, truck driver, and customer in different locations can have the same level of visibility on an order through real-time notifications sent by the SCM software. You can create personalized dashboards for each stakeholder and share the information that’s relevant to each one of them. Real-time information and collaboration eliminate bottlenecks such as missing goods and unhappy customers.
Automation and Process Optimization
A custom supply chain software can automate repetitive operational tasks, shorten your product development lifecycle, and free your staff from mind-numbing work. Order-to-cash cycle automation minimizes tedious paper-based documentation. It integrates your manufacturing, warehousing, order processing, and delivery functions. For example, route optimization using GPS tracking helps truck drivers get the shortest route to their destination. It saves your fuel costs and elevates your customer experience.
Most commercial, off-the-shelf software features an open-source code base that is less secure and vulnerable to cyber-attacks. You own your code and data when you develop a custom supply chain management software. The software provides strong data encryption, audit trail, network monitoring, role-based authorization, zero fault tolerance, and other top security standards. This will keep your supply chain invincible for cyber delinquents. Your custom software development partner will handle all the technology and cyber compliance-related requirements to avoid legal complications in the future.
When your business grows, your software should also evolve to handle the increasing volume of data and processes without affecting your existing system’s performance. Custom SCM software handholds your business as you make inroads into new markets, acquire new customers, and expand your product portfolio.
Supply chain management is a set of practices that define your success in meeting customer expectations and attaining profitability. Your supply chain software should be able to fulfill consumer demands and drive ROI.
At Travanleo, we ensure that your organization chooses the right technology that yields the best results. Contact our team to learn how custom software enhances your supply chain processes and drives business growth.