Today, businesses of all sizes need to operate in a very competitive environment. The owners of such organizations need to ensure their customers get the products they order. Moreover, the goods should reach the doorsteps of such individuals at the right time. After all, they regard client satisfaction to be their top priority. If this is not the case, they’ll be losing out to their rivals in the marketplace. It is not the type of situation they would like to face. Again, they need to receive the raw materials they order from their suppliers at the right time. Otherwise, it could disrupt their entire operations. This is where a proper supply chain management (SCM) system comes into the picture.
Arnon Dror Twitter Why companies need to invest in proper supply chain management systems?
Arnon Dror is a popular name in the world of international finance. He is the former Vice-President (Finance) of US Channel Group in charge of its Xerox Technology Business. This Hebrew University MBA graduate has an illustrious career spanning 20 years. During this period, he has the distinction of holding important positions in popular corporate enterprises. He specializes in many diverse fields. These include corporate mergers, internal control, ERP integration, strategic planning, business modeling, and international finance. Many of the people who he says that he is a result-oriented person. They claim it is responsible for turning around the fortunes of many loss-making businesses. Many of them conduct their market operations both in public and private sectors. You just need to browse through the Arnon Dror twitter profile to know more.The facts may come as a surprise for you.
This financial expert says businesses shouldn’t underestimate the importance of proper supply chain management system. It is critical to the success of their market operations and satisfying the demands of their customers. This is a fact which the proprietors of such organizations can’t afford to overlook at any costs. They need to consider certain important 3 factors when entering into negotiations with their trading partners. Only then can they implement a system which suitable for their establishments. These are as follows:
- Customer requirements
This is the first stage of any supply chain management system. Entrepreneurs need to collect orders from their customers on the products they need. Moreover, they should be in a position to fulfill such requirements. For this, they need to establish proper communication channels with their suppliers.
- Processing of purchase orders
This is the next stage. Proprietors need to obtain proper feedback from their suppliers on the availability of products their clients want. They may also require relevant data regarding shipping details. This enables them to pass on this information to their customers on a real-time basis.
- Inventory Management
Businesses need to balance the demands of their customers with the supplies at their disposal. This is only possible through proper inventory control. It ensures they don’t waste money on holding unnecessary stock. Many experts consider it as a vital component of any supply chain management system.
A proper supply chain management system is indispensable for any business. It can determine its success or failure in the market. This is why entrepreneurs need to keep in mind the above 3 important factors while implementing one. To know more, they should browse through the Arnon Dror LinkedIn profileon the internet. It can clear all their doubts.