Before analyzing how supply chain technology enables greater control over various aspects of the supply chain, such as better management of inventory and working capital, and competition, it is important to understand what it means for business. At its simplest, supply chain technology is a technology-based, digital device that supports business by driving innovation and efficiency in supply chain management. Tailored to each brand’s requirements and scale, supply chain technology equipment is a one-stop solution to simplify business for brands and customers.
Here’s how technological interventions in supply chains are empowering businesses and leaving little room for failure.
- Technology-supported production control
In addition to the use of traditional supply chain management tools and manual mapping, technological innovations in supply chain management allow for better visualization of end-to-end processes. Unlike manual inspection of continuous production cycles, which can be time-consuming and have a wide window for eliminating defects, technological intervention provides a clearer picture of what is ready, what is in progress, and what needs to be worked on. Feedback is clearly visible for individual teams to realize their visions.
Based on a holistic approach, digitization helps prevent leakage from the first mile to the last mile. This allows brands to map gaps before the beans are spilled.
Businesses involve multiple stakeholders and vendors that operate across geographies. For example, there will be a separate vendor for buying packaging, different vendors for buying different types of fabrics, getting brand labels, etc.
In order to effectively manage this many people and avoid complexity, it is very important to integrate them all into one system. Here, technology takes the front seat. These technology platforms leverage real-time, actionable data to help brands intelligently automate processes while managing associated costs and other resources.
Optimizing inventory through deep data analysis and technology-driven agile supply chain, not just raw materials, allows you to stay in control of your working capital. Seamless inventory cycles maintain high availability of high-priority SKUs while reducing inventory holdings and liquidation costs. Along with doing business, manufacturers, logistics partners and distributors. Manually managing all stakeholders becomes a task and carries a high risk of errors or omissions. Gaps in the system are more likely to go undetected and lead to later crises.
To combat this, logistics management technology solutions provide brands with a real-time, objective view of what’s going on. In order to avoid multiple inspections and integrate all stakeholders into one system, it supports extensive warehouse management, shipping management, returns, and real-time order tracking.
We have seen many times house of brands sprouts in the last year. Supply chain technology is important to any brand, but it’s a must-have for anyone building a brand house. While working in a model that includes multiple brand management, multiple stakeholders are involved in all aspects of the business, but the greatest complexity is emphasized in the supply chain.
For example, one brand has 100 suppliers and 10,000 customers, and 5 brands have 500 suppliers and 50,000 customers. As the brand grows, the number of people/stakeholders involved increases exponentially. This makes the supply chain more complex for the brand house. Therefore, technology and technology-based solutions play an important role for all brands.
Technological intervention in the supply chain, rather than a device to digitize the process, makes it possible to effectively manage the back end without filling the gaps. But it’s not just about making things manageable, technology allows brands to scale rapidly by leveraging interoperability in their back-end processes by having the same suppliers working across multiple brands / the same factories manufacturing across multiple brands, but neither is possible. can be done meaningfully without the intervention of technology.
In short – if you want to build a brand house, start working on technology today.
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