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Streamlining your company’s operations can improve efficiencies, reduce costs and increase your organization’s growth. In a competitive market, it’s crucial to stay on top of your operations so you can better serve your customers. The first step is to analyzing your current operations and decide on an appropriate plan of action. However, you should also consider other aspects of your operations, including choice of supplier, outsourcing, cutting back on costs and paperwork, upgrading your systems, automating where possible, increasing collaboration and creating a positive work environment for your employees. There are many benefits to streamlining your company’s operations that you might not have considered, including: Return on investment Increased accuracy and reduced errors Accessibility to all areas of your company Increased financial control Check out the 9 tips below that will help you to better streamline your organization’s operations. Decide on the areas you want to improve Start by pinpointing the areas of your operation that require the most improvement or that have the greatest potential to bring in more revenue. Once you know your organization’s short and long-term goals, you can begin to set targets and deadlines and explore each phase of the process in great detail. Consult with necessary parties to ensure you’re not missing any important information. You should also be knowledgeable about the root causes of these problem areas so you can better address and prevent them. Use the Top Suppliers Your suppliers should be the best in their industry and meet the high standards set by your organization. Using lower-grade suppliers can lead to inefficiencies such as errors or damaged products. You’ll also want suppliers who will communicate effectively. Outsource where possible Many businesses are better at handling the areas of your operations that require specific attention. By hiring an outside experienced professional, you’ll be reducing costs and improving efficiency. Outsourcing your supply chain management, warehousing and distribution, cross-border shipping and more, will greatly benefit your organization. Outsourcing allows you and your employees to focus on the core of your business, ensuring you remain as competitive in your industry as possible. Cut back on costs Review your operations and find the places in which you’re overspending or losing money. These areas or departments of your business could be detrimental to your operations and cutting back will help you to better manage and achieve your company’s future goals. A supply chain analysis will help you to better pinpoint these areas. Use better technology If you’re using outdated systems and technology, it’s time to upgrade to save yourself time and money. Staying up to date is also a preventative measure that will ensure your company won't become a victim of costly issues such as data corruption. However, updating technology can often lead to lower productivity among employees. To mitigate low productivity you can match your short and long term technology goals to your business objectives. Reduce paperwork Reducing the amount of paper you and your employees do will quickly streamline work flow. Paperwork can pile up and lead to wasted time, ultimately causing inefficiencies in your business. It’s important to understand why the paperwork is needed and where it goes, as well as what it adds to your procedures and how important it is to your organization. Create a positive work environment If your company’s workflow isn’t streamlined, it’s not only your operations and revenue that are affected – your employees could also be suffering. Retaining your employees with effective operations will ensure you keep productive workers and don’t waste money and time dealing with a high turnover rate. Employees appreciate reliability and communication, however you should also be hiring the best employees who are capable and will improve workflow. Automate certain procedures Automating certain necessary procedures will reduce redundancies and repetitive tasks. Certain activities and services can be simplified by putting the proper technology in place. Also, you’ll be reducing the risk of error and clarifying the duties of your employees. Increase collaboration Increased collaboration and communication across all areas and departments of your business will greatly improve efficiency by ensuring all employees, suppliers, customers and so on are available interactively. Some ways to improve collaboration across departments include calendaring, videoconferences and to name a few. Using the right technology and implementing an effective plan will ensure you’re saving money and keeping your customers are happy – as well as providing you with a competitive edge. Using the above 9 tips will help you to improve efficiency in all areas of your business. Set your short and long term operational goals and follow through with top employees and suppliers, efficient and automated procedures and eliminated redundancies. An operations audit can help you to ensure your company is working as smart and effectively as possible.

You can’t run a business blindly. Supply chain visibility is crucial to the success of an organization. However, lack of synchronization in workflow often occurs when the individuals in an organization can’t fully grasp and comprehend the activities and ongoings one level below or above their own place in the supply chain. But it’s possible to increase visibility and transparency across every stage of the supply chain. Create opportunities for individuals in various departments to collaborate and share ideas. There are also a variety of tools and technology that can make it easier to improve your supply chain visibility. Here we examine a variety of factors that can help in this process: Reduce risks and costs Supply chain visibility will ensure there are no interruptions in your processes. You’ll be able to quickly respond to any needs throughout the chain, such as redirection of supply. Increased visibility will ensure you can re-evaluate areas of inefficiency and in turn reduce risks such as damaged products and mistakes. Supply chain visibility has been proven to provide a return on investment. As well, companies that offer supply chain management can work with you to find a reliable and cost effective service plan. Improve performance Enhanced supply chain visibility will help you to better track your performance expectations and estimate future demands, ensuring you can meet your future goals. Optimizing your performance will open communication among those throughout the supply chain. As well, supply chain visibility will ensure you’re keeping pace with changes in regulation around transportation. Utilizing the latest technology in supply chain management can ensure you stay on top of each task and achieve an analyzable performance. Identify problems Increased communication as a result of supply chain visibility will help you to see where gaps exist in your system. Sharing information between departments and organizations can provide an overall view of the entire process. In a competitive market, customers are less likely to tolerate delivery or product errors. Supply chain visibility is crucial in preventing order errors and will prevent customers from taking their business elsewhere. Supply chain visibility ensures you’re knowledgeable about every aspect of your inventory and allows you to better help customers by improving performance and reducing errors. Putting in place the right infrastructure can help you to achieve better supply chain visibility and therefore reduce costs, improve performance and identify problems, ultimately improving your reputation and growth. If you’re not sure where to start, look to an audit and analytics specialist who can analyze your current supply chain and implement a plan that suits your organization.

A seamless logistics process can help companies improve productivity and reduce their supply chain costs significantly, but many organizations are held back by their vendor contracts. It’s an area in which today’s leaders are now taking a proactive stance, and within this latest post we’ll take a look at why your organization must audit your vendor contracts to achieve optimal logistics performance. Identifying Volume Order Opportunities One of the key benefits of the auditing process is that it empowers organizations with the ability to identify volume order opportunities. By auditing their vendor contracts, they can determine how often they order from specific companies and how large a volume of business they conduct with companies over a set period of time. They can then pinpoint their order demands over a long period and complete bulk ordering to minimize expenditure. Consolidating the Payment Process When auditing their vendor contracts, companies can find ways to reduce the complexity of the payment process. For example, a firm might have built a specific, multi-step payment structure before a period of growth. They may now have the resources to automate the payment process and minimize their administrative work, allowing them to allocate more resources to other areas of the logistics process. Eliminating Overcharges and Duplicate Billings Simple mistakes can have high costs within large contracts. Working with large vendor accounts, administrators can easily make a typing mistake or duplicate an invoice. Administrators might also miss overcharges on their accounts. This can lead to the organization overspending by thousands of dollars per year. The ideal contract audit tool can simplify contract oversight and pinpoint potential billing errors before they impact the company. These tools can also reduce duplicate billings, and help the organization retain strong relationships with their clientele. Preventing Potential Legal Challenges Many companies have become embroiled in legal issues and fined as a result of improper payments made by vendors on their behalf. This can lead to a loss of faith in the company, and a long, drawn out investigation that impacts the firm’s productivity in the long-term. A comprehensive and flexible audit process helps analyze vendor contracts for potential legal issues and helps protect the organization against damaging cases in the future. By auditing their vendor contracts using the latest marketplace tools, organizations can limit their logistics costs, streamline their service to customers, and protect their brand for the long-term. To learn more on the benefits vendor auditing can offer your firm, speak with our market specialists today!

Companies without an effective and cost-efficient supply chain system in place are likely overspending significant on a yearly basis. It’s important for supply chains to be agile and flexible, and companies with an overly broad system are often investing resources ineffectively. By harnessing their supply chain solutions with precision, companies can now significantly reduce their expenditures while ensuring optimal service for their customers. In this post, our team looks at five ways supply chain solutions can reduce costs. Determination of Optimal Delivery Routes Companies are overspending on millions each year within their transit budgets. The leading supply chain solutions can now determine the best delivery routes for trucks, helping companies allocate their resources more effectively. This advantage has the added bonus of helping companies deliver their products within a faster timeframe, thereby improving customer service over the long-term. Consolidating Invoicing Costs The leading supply chain solutions are now making invoicing management more effective and precise. Many older systems still ask drivers to report their hours directly within the system. But leading models are now taking this job away from drivers and logging hours directly through their vehicle via an automated system. Not only is this improving the accuracy of invoicing but it’s also allowing drivers to focus more on their core working role, enhance their on-the-job performance. Streamlined Shipping Processes The shipping process can add significant time and expense within the supply chain. Companies must optimize their shipping for border control issues and other transit challenges. This means they must complete comprehensive documentation for each order sent to a customer. Now, the latest supply chain solutions are helping firms mitigate costs by automatically completing documentation based on set freight parameters. Budgeting Optimization In planning their supply chain processes, companies now depend upon the latest solutions for analyzing their budgets and determining the best method for delivery to a specific customer. Budgets can be analyzed and optimized incrementally over a set period of time so that decision makers have actionable reporting data to refine their working processes. Minimizing Costly Errors Errors in the supply chain management process cost companies millions of dollars each year. Whether it’s incorrectly writing a purchase order or sending the wrong documentation with freight, these errors can now be avoided through streamlined supply chain solutions. Companies can automate many of the administrative tasks that are often the source of errors by office teams. Supply chain solutions are bringing flexibility and cost-efficiency to the entire logistics process. To discover more on the benefits these solutions can bring to the modern business, call our team today.

LTL shipping, also known as Less Than Truckload, refers to shipments that do not require a full trailer for transport. Many growing businesses rely on this service to deliver their goods to customers in all industries across North America. Choosing the right 3PL company can be very crucial to a small business’ livelihood because it can provide cost savings and personalized service to the needs of the end client. 1) Cost savings 1) Cost savings Third party logistics companies specialize in growing their partnerships with small, medium and large sized LTL carriers (You may ship 2 skids per week, but a 3PL may have 100 clients like to meaning they will have deeper discount because they spend more). This gives them buying power to negotiate better rates/service for their clients. Many LTL carriers use rating systems that are based on pallet size dimensions and weight. A 3PL company has the advantage of being able to negotiate lower rates due to their higher volumes of business with different LTL carriers that specialize in different lanes industry verticals and markets. 2) Customer service 2) Customer service A 3PL company can offer personalized customer service by being flexible in order to meet each customer’s needs, a good 3PL will realize every client is different and tailor solutions to your needs, instead of giving you rates and fitting you into the box that is easiest for them. The different partnerships of a 3PL are an extension of their business and when it comes to servicing a client, challenges are always viewed as opportunities for growth. 3) Industry knowledge 3) Industry knowledge Your 3PL partner is always up to date with the latest changes in the industry. There is no better option than to have your 3PL professionals guide you through your business and your Supply Chain challenges. The expertize from the right team as well as attention to detail can help guarantee success for any business in terms of service and their bottom line profitability. 4) Value added Service 4) Value added Service The value that a 3PL company provides is having a team of industry professionals at your disposal, together with technology to provide visibility of your shipments and personalized attention to your business. 3PL companies can provide options and costs savings according to your customer’s needs. Overall, a 3PL company is the best option when it comes to shipping LTL freight. Especially when shipments have special requirements like handle with care or time sensitive deadlines. 3PL companies provide an advantage for businesses looking to find the most competitive rates in the market, along with service that they can count on.

In a recent article compiled through marketing surveys and statistics, columnist Steve Olenski outlined three tips to improving your overall customer service. (Customer Service 101, Marketingland.com, March 14th 2016) Can these tips be applied to any industry? I believe so. They are basic fundamental principles of integrity, genuineness, honesty and appreciation that if applied and portrayed correctly can have major impacts on customer retention and business development. A recent survey found that nearly $41 billion dollars in revenue is lost in the U.S alone each year by companies not putting “their customers first”. Another interesting study showed that 97 percent of North American business’s list customer service as the foremost critical factor in deciding which company/service provider to choose and stay loyal to, the same study also noted that expectations in North America are increasing drastically about what define “GREAT” customer service. (Customer Service 101, Marketingland.com, March 14th 2016) I think we can all agree to that statement no matter what industry we are in. With this in mind here are Steve Olenski’s three tips you can start doing today to win over your customers; whether meeting in person, speaking on the phone or engaging online. (Customer Service 101, Marketingland.com, March 14th 2016) 1 – Show your customers you value their time. 1 – Show your customers you value their time. In an age of instantaneous information time is money so don’t waste your customers, value it. This may mean implementing online user friendly web based services, customers want to click a button and receiver the information they need, not wait on hold or in a queue to talk live to someone. 2 – Be Responsive. 2 – Be Responsive. The biggest let down with customer service experiences is poor response time. Respond to customers right away, even if its just acknowledgement letting them know you received and are working on what they have requested. Don’t let hours go by without reaching out. Rapid Response times mean customers can get their questions answered, needs fulfilled or problems solved so they can move on with their to-do list. Helping them cross something off that list goes along way, and when a response comes on a weekend or evening you have the opportunity to “wow” the customer unexpectedly. 3 – Be Friendly, personable and most importantly Genuine and Authentic. 3 – Be Friendly, personable and most importantly Genuine and Authentic. Simple but truly affective! Surveys show that even when not getting the answers they want customers provide positive feedback toward customer service when the person they speak to is pleasant, helpful and genuine in their care and concern. This authentic approach builds trust to maintain long term relationships. While these techniques’ may seem small, they really do make a big impression when applied genuinely. Along with addressing clients by name, sending a personal thank you and remembering and relaying small details about them personally will win them over and keep them as loyal long term customers. (Customer Service 101, Marketingland.com, March 14th 2016)

As companies look to the future, more and more of them are realizing the benefits to be gained by outsourcing their supply chain management. The integration of a third party logistics provider or 3PL allows companies to leverage a large network of resources to develop an all in one solution for assembly, packaging, warehousing, and distribution. 3PLs allow for each step in the supply chain can be executed in the most efficient, cost effective way. 3PLs can leverage relationships and volume discounts, resulting in lower overhead and the fastest possible service, all things unavailable with an in-house logistics team. Today companies are always chasing to keep up with the 30 second attention span, rapidly-evolving, customer-centric environment in which they operate in. Even knowing what technology is needed can be challenging for supply chain leaders; with much of the industry blind to the future ROI. Moving forward with the expectations that what has worked for a business in the past, will keep working in the future, has paved the road to the future with the ashes of obsolete companies… don't see many people rent a movie from Blockbuster. The old regime is being replaced by a new level of demands on cost, service, and quality. A benefit of using a 3PL provider is the ability to scale space, labor, and transportation according to inventory needs. Businesses with seasonal periods can enjoy stress free transitions between industry ups and downs, having the ability to utilize more space and resources when needed. To keep your company on the right track the integration of a 3PLs knowledge of industry best practices, will create fortified lines of communication keeping you up to date with the latest developments in technology. 3PL software is capable of advanced reporting, inventory management, and provides visibility to monitor the entire process. 3PL experts employ Just in Time practices to ensure the correct amount of inventory is shipped when and where you need it. In my personal experience I have seen the 3PL ecosystem comprised of a mixture of both senior experience and youthful innovation, leveraging each other's skill sets and knowledge. This all culminating in a progressive platform to help maximize profits, reduce wait times, and improve customer service. Allowing your business to grow for years to come, by providing the resources to streamline your supply chain, reduce inefficiency, and the technology that ensures your goods arrive when and where you need them.

Image Source: iStock | Utilize a Logistics Management Specialist to Increase Your Profits Your company's primary business goal is to increase your profits. To this end, you take many steps every quarter to create a positive impact on your bottom line. Many profit-increasing measures are fleeting, only benefiting you for a few weeks or months. Short-term actions are great for getting your business productivity moving in the right direction. However, you must focus on long-term strategies in order to achieve sustained business growth for your company. To this end, building a relationship with a logistics management specialist is a step that you must take. Let's take a look at the benefits of working with a logistics management specialist and how you should go about finding the best one for your company. What a Logistic Management Specialist Does In short, a logistics management specialist handles the flow of your goods and assets at each stage in their life cycle. This includes everything from the parts that you need for production to your final products. They will manage where your goods go from the moment that you need them until final delivery to your customers. What Are The Benefits of Working With Them? You already manage the flow of your goods, so you may be wondering how having someone else do it for you could possibly help your business; the key factor is efficiency. A highly skilled logistics management specialist will save your business a great deal of money and time. They will do this by making the movement of your goods operate faster and more cost-effectively. In addition to allowing you to save money throughout the movement of your goods, you will also benefit from enhanced consumer goodwill. This is because your improved flow of goods will allow your customers to get their products faster and more reliably. All of this means that a customer is more likely to rely on your company instead of the competition when they need a steady flow of products or a rush order. What's the Scope of Their Capabilities? A logistics management specialist usually has the capability to improve the following elements of your logistics management process: Supply chain Warehousing and distribution Asset auditing Logistics analytics Transportation International distribution What should I look for in my Logistics Management Specialist? Not all logistics management specialists are the same. In order to make sure that you work with the one who is most capable of improving your business's profitability, you must consider the following two factors: An Industry Focus: Everything about your industry is unique. This includes your logistical needs. The logistical management needs of a construction company, for example, will be very different from those of a retail company. This means that in order for your logistics management specialist to be able to effectively deliver an effective strategy for the flow of your business's goods, knowing how to move something from point A to point B isn't good enough. They need to understand the logistical needs of your business. Before you work with a logistics management specialist, ask them about what industries they specialize in. A Complete Set of Skills: The flow of your company's goods doesn't begin and end with a single process. It is a multi-step endeavor that requires consistency throughout several processes. As such, it is key that your logistics management specialist has a full suite of supply chain, warehousing, general logistics, distribution, and analytical capabilities. Is your logistics approach helping or hurting your business? If you aren't working with a logistics management specialist , then you need to soon. This will help you maximize your company's earning potential.

An efficient and effective supply chain can become a powerful competitive advantage in a marketplace saturated with demanding customers and innovative competitors. Many companies struggle with the daunting task of reducing freight costs every year, when their vendors are already struggling to provide the service at such low costs. An alternative to beating down your vendors on price to reduce supply chain spend, is to focus on compliance. Holding your vendors accountable for falling short on service levels and billing expectations can save your company time and money, as well as improve relationships with your customers. Vendor’s should be compliant in two distinct areas; billing and performance. Billing Compliance The term billing compliance refers to your vendor’s ability to invoice you according to contract, within a reasonable timeframe. Billing compliance is especially important within supply chain, where companies are more focused on cost reduction and efficiencies than ever before. Auditing your vendor’s invoices to ensure that they are 100% accurate is only half of the battle. Many companies do this currently, but they allocate small armies of auditors to find and correct these errors. Is the juice worth the squeeze? Billing KPI’s such as billing accuracy and number of days from order to invoice have become incredibly important indicators of a vendor’s ability to bill you properly. Tracking such KPI’s will allow you to pick out the ‘bad apples’ and correct the root issue at the source. For example, if a vendor takes an average of 19 days to invoice you, a simple discussion with your sales rep could resolve the issue, as opposed to having you’re A/P team send out daily emails requesting invoices from this vendor. Performance Compliance Performance compliance on the other hand refers to your vendor’s ability to execute a service to a specific standard as outlined in a contract. An example of this would be a carrier that is required to deliver all orders with an on-time delivery % (OTD%) of at least 90%, with less than 3% of orders with overages, shortages, and damages (OS&D). Such KPI’s are crucial to track as they directly affect your customer’s relationship with your organization. Interestingly enough, companies in todays marketplace lack the ability to track KPI’s such as billing accuracy and OTD%. The issue many companies are faced with is the inability to track and store accurate data pertaining to their supply chain.  As competition in the marketplace increases, companies are looking for ways to set themselves apart from their competitors. Do you possess the business intelligence to maximize efficiencies within your supply chain? Your competitors may…

In order to thrive in the competitive electronics industry, you have to be constantly looking for ways to stand head and shoulders above your competition. This can sometimes feel like an indomitable task, but there are several tactics you can use to enhance your ability to succeed. One of the most important steps that you can take is to enhance your supply chain efficiency. What's So Important About Supply Chain Efficiency? Before you can understand why supply chain efficiency is so important for the electronics industry, you must learn its value for any company. Reliable Distribution Missing, mixed-up or partial shipments can do serious harm to your business. This is because it throws your inventory off, makes it harder to deliver on promises and will cost your valuable assets. Enhancing your supply chain efficiency protects you against these problems by enhancing the efficiency of your distribution. Faster Distribution The faster you can get your items from point A to point B, the more quickly you can move on to the next phase of your current endeavor. An effective supply chain management system will organize your logistics in a way that allows your items to be shipped with fewer holdups. This faster delivery capability also bodes well for your company's brand, since, your customers will get their goods faster than ever before. Enhanced Planning Capabilities When you know where your company's assets are going to be long before they are even in your possession, you can more effectively plan your entire business. This is due to the fact that you will be able to make more informed decisions across the board. Cost Savings A streamlined supply chain cuts all of the fat out of your logistics. This means that you will waste less money on mix-ups or inefficient transportation. For example, an effective supply chain system will reduce the number of shipments that you have to pay for. It does this by optimizing the timing for your shipments, thereby allowing larger groups of items to be shipped at once. Why Is This Especially Important For The Electronics Industry? Now that you understand the value of supply chain efficiency for all businesses, let's explore why it is so much more important for the electronics industry. Growth Adaptability Due to rapid advancements in technology, the electronics industry is growing fast. In 2014 alone, this industry created over $211 billion dollars in sales. This industry-wide burgeoning means that there will be plenty of huge opportunities for your electronics business to grow. In order to accommodate this growth, you will have to manage more resources. This is where optimizing your supply chain efficiency will be most beneficial. Supply chain efficiency allows you to cut the growing pains out of your business by creating a fluid connection between your company's assets and business processes. This way, instead of having to find a way to make room in your system for your new inventory,  distribution  network, etc, your company will already be prepared for the changes. Competitive Advantage In the ultra-competitive world of electronics, you need every edge you can get. When you have competitive prices, and can deliver products to customers faster than your competition, you stand out. This gives you a huge competitive advantage. An efficient supply chain system actively lowers costs and increases the speed at which you can process orders. Is Your Electronics Business Prepared for Success? Using an efficient supply chain management system will allow your business to get out of its own way. To receive a free supply chain analysis, contact us today !

Managing your small business logistics is a complicated process. In addition to making your team feel overwhelmed, these complications will hinder your company's overall efficiency. In other words, it is costing you money and ultimately obstructing your company's ability to grow. Fortunately, you can overcome the challenges of logistics with the right solutions. To help you improve, let’s take a look at the best small business logistics solutions to invest in. Supply Chain Management Resources Moving your company's products through production and distribution is a strenuous process. You need to manage the cost, efficiency and volume of your supply chain while still managing other business processes. That's why supply chain management is one of the best small business logistics resources that you can invest in. In order to effectively integrate a strong supply chain management resource into your logistics process, you need to understand how these resources will help you. Once you understand this, you should make improvements where necessary. Getting a Supply Chain Analysis Done The first step towards enhancing your supply chain approach is to understand its deficiencies. To this end, you will need an objective, experienced analysis of your supply chain's cost and performance weaknesses; there should be no guesswork here. The  supply chain auditing service  that analyzes your approach should work hand in hand with your finance department in order to ensure totally accurate data. Getting Improved Supply Chain Solution Services Once you know the elements of your supply chain that need improvement, it's time to gain the resources that you need to make those improvements happen. A good supply chain solutions company is perfect for this, as they will be able to provide you with a straight path to supply chain enhancement. Even if you already have supply chain solution provider, you should consider how well their offerings align with the changes mandated by your analysis. Compare your current supply chain services with other companies to gain a better picture of what steps you should take. Warehousing and Distribution Resources Figuring out where to put your goods and how to distribute them isn't easy. Although it sounds simple, this can be one of the most complicated elements of your small business logistics endeavors. You should be investing in warehousing and distribution resources such as small package forwarding, cross-docking operations and customs brokerage services. This will enable you to manage the movement and storage of your goods in a more cost effective manner. Multiple Transportation Solutions In order to get your goods to where they need to be efficiently, you're going to need more than a few cars. You're going to need a fleet of transportation resources that moves across land, air and sea. The more diversified your transportation solutions are, the more effectively you will be able to move your goods around. For example, intermodal transportation that combines train services and the directness of truck transport will avoid typical holdups in the shipping process. International Logistics Solutions Even if your company is located near a border, moving your goods across international lines isn't as simple as making a delivery to another state. You will need an expert team who can manage the unique cost, warehousing, taxation, insurance and depreciation costs for each country that you do business in. Don't Let Your Logistics Drag Down Your Business In order to sustain its growth, a small business like yours should be flexible and adaptable. Make sure that your logistics operations can keep up by investing in the right small business logistics solutions for your company's unique needs. For more information on logistics services, contact us at 3PL today!

A supply chain analysis involves quantitative analyses of inputs and outputs, in terms of cost and value added through a chain of supply agents. Value may be expressed in terms of monetary value from the point of entry up to the time they are put out into the market. If you have used the same analysis process and it does not tally with analysis from other quarters such as financial reports, then it is time to take a second look at your analysis method. The following six signs are an indication that you need to review and possibly revise your supply chain analysis approach and methods: 1. Inconsistent The analysis should be an ongoing process. Every activity that is regularly carried out should be analyzed so that it is possible to get weekly, bi-weekly and monthly reports. You should also be able to get the reports on what happened on any given day. If you can't get this and you have to give notice for reports to be prepared, then there is a problem. 2. Unclear Vision You should have a crystal clear understanding of the supply process, from when materials are ordered to when items are ready to go into the market. You should be able to see the monetary and quantitative value of your supplies at any time. This way you can know whether you are getting the best supplies and at the best prices. 3. Rising Insurance Premiums Insurance premiums reflect the risk of damage or loss that the insurance company would have to compensate you for. If your premiums are going up, then there are increased risks. This may because of various factors like facilities, machinery or processes. It is important that you understand what are increasing your risks and address them, not only for insurance premiums but also to optimize productivity. 4. Busy Yet Unproductive If you’re staff always appear busy, but the bottom line doesn’t reflect this, there is an issue. Whether it means employees are overworked, or that they are not being efficient, it’s important you know how your employees are working. 5. Questionable Compliance There are recommended methods and products for carrying out operations and if you are using them, then you can ensure your business is being legally compliant. However if you are not, then you may be unknowingly not working up to legal standard. This affects your organization in terms of productivity, and can lead to legal repercussions. Apart from ensuring compliance, you also need to make sure that you keep up with changes that affect regulations and standards. 6. Takes Too Long To Fill Gaps If a supplier fails to deliver the right quality or quantity of product on time, then there is a problem with the supply chain. A good supply chain will tell you exactly how much delays will cost you, and have additional suppliers as a backup. If you are too close to your operations, you may not be objective enough to know if your supply chain is failing. 3PL Links will do an independent supply chain analysis and make recommendations that will optimize productivity and returns and help you grow. Contact us today for more information!