6 Steps to a More Optimized Supply Chain
Optimization is one of the most critical aspects of your business to stay ahead of the competition. No matter your product, you want to maximize your efficiency and costs to get it to market faster and at the lowest possible price without compromising quality.
If your supply chain could use some shaping up, consider these six steps toward supply chain optimization.
Improve your relationships with retailers.
You may be producing the product, but retailers are interfacing with customers and getting units in their hands. They’ll also have valuable data that you can use to keep your production optimized. Boosting the nature of your retailer collaboration can provide valuable insight.
Adopt sustainable practices
Also known as circular economy, sustainability in supply chain operations can go a long way in improving efficiency. By definition, sustainable practices mean that your business is taking significant steps to reduce its carbon footprint and paying attention to raw materials so that very little waste is created. It also forces you to be more conscious of what you are using and what you’re spending money on
Use technology to your advantage.
From logistics software to resource tracking to automated processes, investing in up-to-date technology can pay off nicely when optimizing your supply chain.
Use technology to your advantage.
Knowing the status of your stock for both raw materials and final products can help with meeting requests and keeping storage costs down. Setting up automated updates for inventory can save a lot of hours of labour and allow your employees to use their time more productively.
Know what an efficient supply chain looks like
The old Peter Drucker axiom — if you can’t measure it, you can’t manage it — comes into play with supply chain optimization because you need to know what you’re aiming for. You’ll want to establish benchmarks for key performance indicators (or KPIs) to give you some targets.
Review and analyze often.
It’s always important to try to do better. By creating a system for analyzing current performance and improvement (and using it), you’ll understand how your company is moving forward. It’s also important to remember that your sector’s prevailing winds will shift and new technology will become available and that both of these things mean you’ve got to assess your work.
Also Read: Choose the Sustainable Way
The 49th CWPCA Annual General Meeting in Toronto occurred on the 15th and 16th of May, during which the many benefits of wood packaging were discussed. This event featured the National Nature’s Packaging Association, which launched its new website. Frequent updates will ensure the most recent information is released within the site. The mission and vision of this group are transparent. Nature’s Packaging aims to educate and inform consumers and specialists about the environmental benefits of wood packaging compared to other materials. With a mission to encourage the use of Packaging and wooden pallets, this North American initiative promotes the use of a sustainable, responsible and economical packaging solution.
The committee members ensure the promotion of the use of wood packaging benefits.
- Rob Anderson, St Boniface Pallet – Executive and Marketing Committees
- Dave Uppal, Pioneer Pallet – Research Committee
- Phil LeBlanc, Ressources Lumber – Research Committee
- Mark Patrick Tame, Herwood Inc – Media Committee
- Jeff Doman, CHEP Inc – Research Committee
Why opt for wood packaging?
A sustainable resource
Wood is a natural and renewable resource; the harvesting of wood from North American forests is considered to be one of the best international forestry practices, which has contributed to decades of growth of our forests.
Did you know that…
Forests cover about 751 million acres, equivalent to 1/3 of the US territory.
