7 Effective Ways To Increase Your Supply Chain’s Velocity - Cozentus Technologies

1. 7 Effective Ways To Increase Your Supply Chain’s Velocity - Cozentus Technologies

2. About Cozentus Technologies • Cozentus is a complete business solutions provider transforming operational productivity and efficiency of businesses across Supply Chain Management and Financial Services. • Operating globally, we bring you the best domain-specific expertise combined with digital transformation capabilities so your business can thrive in today’s connected world. Our long-term partnerships and valued relationships provide the basis for fluid collaboration and an innovative solutions-orientated approach.

3. 7 Ways To Increase The Velocity Of Your Supply Chain • Companies and customers have both seen price increases and slower output, but there are solutions to offset the disadvantages. These seven methods may assist in boosting supply chain velocity. • 1. Assess Supplier Viability - Suppliers are often among businesses' primary causes of supply chain challenges. A company that wants to enhance the velocity of its supply chain should start with its suppliers. Communication is an essential aspect of every partnership. Therefore, managers should evaluate the kind of replies they receive from suppliers.

4. 7 Ways To Increase The Velocity Of Your Supply Chain • 2. Evaluate Current Strategies - Following the evaluation of supplier viability, supply chain managers should review their present tactics and how they might improve. These days, the most efficient supply chains are trustworthy, cost-effective, and lean. Optimising all three simultaneously might be difficult, but striking the right notes can enhance velocity. • Different techniques will be effective for various types of businesses. Managers might begin by contrasting their supply chain strategy with the business they manage. Drop shipping, for example, allows internet companies to avoid maintaining inventories.

5. 7 Ways To Increase The Velocity Of Your Supply Chain 3. Continue to Track for Weaknesses - Changing or improving the supply chain strategy is an effective technique to boost velocity. Managers, however, should only do this once. Businesses must constantly monitor their supply chain strategy and strive to improve to retain an efficient model. Often, a corporation addresses one issue, but another arises later on. Using data and algorithms to monitor flaws is one method. Analytics has become an essential component of end-to-end supply chain planning since it provides managers with data-backed feedback on the status of their operations and suppliers. This information is crucial in retail since client needs change frequently, and businesses must respond just as swiftly.

6. 7 Ways To Increase The Velocity Of Your Supply Chain 4.Collaborate with Employees - A company may devise the finest end-to-end supply chain planning, but it is only as successful as those who put it into action. Managers should teach their employees the best practices from the start and continue to retrain when new techniques emerge to replace old ones. Another method for increasing supply chain velocity is relying on long-term personnel expertise. One unorthodox end-to-end supply chain planning approach is working with the information technology (IT) department. IT professionals may help determine where management can change the supply chain. Managers often engage IT teams when deploying new software for the organisation or when technological difficulties develop.

7. 7 Ways To Increase The Velocity Of Your Supply Chain 5. Consider Automation - Humans can recognise and repair errors, but can they do it as quickly as a computer? Increased supply chain velocity may achieve via the use of automated technologies. These devices eliminate the need for people by reducing mistakes, speeding up production, saving money, and improving workplace safety. 6. Use the Internet of Things - The Internet of Things (IoT) has proven to be an excellent tool for end-to-end supply chain planning all around the globe. IoT devices can improve operations and provide feedback. They're beautiful tools for boosting supply chain visibility, a significant problem for supply chain managers nowadays. Some of the world's major corporations have used IoT to manage their supply chains.

8. 7 Ways To Increase The Velocity Of Your Supply Chain 7. Employ Telematics - Fleet demand planning in supply chain has evolved into an integral component of increasing supply chain velocity. As a result, the growth of telematics over the last several decades has become crucial for fleet owners looking to improve vehicle maintenance and maximise earnings. Telematics has proven particularly useful in times of driver shortages. This technology may assist truck drivers in improving their routes and guaranteeing their goods arrive on schedule. For fleet owners, route optimisation saves time and money.

9. Contact Us Address Contact Details Odisha SRB Tower, 5th and 6th Floor, Infocity, Bhubaneswar -751024, Odisha, India Contact No: +91 977 712 6600 (India) Email: supplychain@cozentus.com Website: https://www.cozentus.com/