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richgainscm
Feb 23, 2021
In Blog by RICH GAIN SCM
The order fulfillment is an important process which begins from receiving the order, process the order request, producing a strategy for accomplishing the order, establishing a quality control team to monitor the entire process, creating the product, packing and warehousing them till they are promoted and sold. One of the important steps of order fulfillment process is the Pick and Pack process. The Pick and Pack process forms the major bulk work of the order fulfillment process. In the Pick and pack process, the orders are obtained through the customer service or from call centers. Then entering of the orders into a system called order fulfillment system is performed. In the next step of the Pick and pack process, the product specification and the place for gathering them is decided. The management system that is engaged in warehousing will help in reducing the time that is spent for travelling or for the shipment of the product and will decide Pick and pack paths to achieve this. The Pick and pack is thus a small part of the larger process a called the supply chain management, which involves the entire process, beginning from order request till product development and marketing. There are two types of picks, the standard and the custom picks. The orders for the Pick and pack process can also be received from the shopping carts other than call centers. The orders are checked, evaluated and approved using an efficient team that is responsible for the quality outcome of the final finished product. The Pick and pack process also involves proper packing of the product according to the packaging specifications that are mentioned in the order. The quality control team of the Pick and pack task, continuously monitors the process at every step in order to avoid any last minute issues. There are account managers, who will be guiding the company throughout the Pick and pack process. Using the help of these managers, proper safe packaging will be ensured. The products need to be packed safely as they need to be shipped over long distances under harsh environmental conditions. To ensure proper safety and proper delivery of the product to the end user, the account managers play an important role. The items that are fully processed and packed neatly and are ready for transportation must be labeled properly for future use. The bar codes must be attached to the packed products, which will be useful for the billing and tracking process (This happens after the Pick and pack process and after the shipping). The Pick and pack process involves production of very small to large items. Large amount of items or train loads will be separated. In the Pick and pack process, the needed products will be categorized, picked and then again packaged with bar codes (label for shipping), that is beneficial for monitoring the status of delivery. Any industry that is involved in the supply chain management provides the Pick and pack services. Some companies like FedEx, Amazon.com, which are involved in shipping also provide the Pick and pack process.
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richgainscm
Feb 15, 2021
In Blog by RICH GAIN SCM
There are distinct benefits of preparations before negotiating. A skilled negotiator knows the benefits of preparation. There can be many ways out of which four are being described below : 1. The Skilled Negotiator knows his Counterpart. Purchasing professionals often fail in negotiations due to being caught off-guard by the experience and/or aggressiveness of the supplier's negotiator. So, always learn about your counterpart before you begin negotiations. Insist on a phone conversation prior to the negotiation. You can tell the supplier that the purpose of the call is to shore up logistical details like time, location, and length of your meeting. And do shore them up. But also find out more about your counterpart through "small talk." How long has she been selling the product or service? Is he an aggressive personality? Then, adjust your tactics for that type of counterpart. 2. The skilled negotiator uses logic. Logic can be a powerful negotiating tool. But a skilled supplier negotiator will anticipate your logic and shoot it down. For example, let's say you were buying used aircraft parts. You may say to the supplier who bid $3,000 for a part "I always see these parts selling for $2,000, so your price isn't fair." That might be good logic, but the supplier may say "But those parts are in 'repaired' condition rather than 'overhauled' condition and don't have the same warranty." If you didn't go deep with your logic and consider all possible supplier responses, you likely have no more ammunition for persuasion. 3. The skilled negotiator controls the meeting. Sales people are taught to control meetings. In a negotiation, this disarms you and prevents you from reaching your negotiation goals. Don't let the supplier control the meeting. Either present an agenda or prepare a set of probing questions to lead the conversation. And when you've achieved the results you're looking for, give signals that the meeting is over (e.g., stand up, say "Thank you for your time in meeting with me today," etc.) 4. The skilled negotiator knows what the supplier will ask & how to answer. At the outset of negotiations, suppliers want to learn if they can earn your business with their current proposals or if they have to improve them. Be prepared for their questions and know how you're going to answer them. What the supplier wants to learn is: *Who is the decision maker? *Does he have the budget to pay the current price? *How quickly does he need to make a decision? *Are there other suppliers up his sleeves ?
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richgainscm
Feb 15, 2021
In Blog by RICH GAIN SCM
Changing business dynamics and intensifying competition have brought about new challenges for supply chain professionals. Globalization, shortened product life cycles, stringent regulations and volatile markets have made effective supply chain management a prerequisite for business success and growth. So supply chain professionals are constantly assessing their supply chains to make sure that gaps are filled and inefficiencies corrected promptly. And these market demands and economic conditions have brought about some interesting and noteworthy trends in supply chain management: More Emphasis on Visibility: Increasingly supply chain professionals are realizing the need for more visibility in supply chains. So today's supply chain solutions focus on offering analytics data that facilitate decision-making, as opposed to merely providing static visibility. These solutions provide consolidated, real-time analytics and share them with relevant stake-holders, thereby making information more actionable. Improved Responsiveness: Traditionally supply chains have been driven by forecasts, and supply of inventory has been based on predicted demand. However, this model does not work in the current dynamic market scenario. Manufacturers are now expected to be highly responsive to changing market demands. And this has led to the emergence of tools which enable better visibility, communication, and collaboration, and empower manufacturers by making their supply chains more responsive, flexible and versatile. Enhanced Collaboration & Communication: Globally distributed operations, outsourced manufacturing, and multiple regulatory standards necessitate better co-ordination and timely communication in supply chains. And these are crucial aspects in supply chain management today. So there is growing emphasis on the need for efficient collaboration and communication, to enable judicious decision-making. Hence supply chain solutions are also increasingly catering to this need. Low Investment & High ROI with Advanced Software: Unfriendly economic conditions have forced manufacturers and supply chain professionals to cut down on their IT budgets. This has led to the growing use of SaaS-based applications in supply chain management, which offer advanced, and integrated information management capabilities. Unlike traditional applications these solutions are on-demand services which can be deployed easily without having to install complex software or hardware. These do not require high capital investment or expensive maintenance. These are low cost solutions, but guarantee high ROI. Increased Use of Supply Chain Consulting: Manufacturers have realized that today's supply chains are highly dynamic in nature and therefore require dedicated time, and resources. Hence they are now resorting to supply chain consultant, who offer their expertise to help resolve issues and manage supply chains more efficiently. Their vast experience helps in overcoming challenges and in making supply chains more flexible and responsive. Globalization of manufacturing has revolutionized economies worldwide. While low-cost regions are being used for manufacturing, they also pose a unique set of challenges which need to be addressed. Global supply chain models are susceptible to increased risks, lack of visibility, reduced control and collaboration. And the above-mentioned trends in supply chain management reveal that manufacturers are trying to overcome the limitations of global supply chain models in order to build seamless supply chains.
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richgainscm
Feb 15, 2021
In Blog by RICH GAIN SCM
Supply chains are ruled by uncertainty. Their performance is largely unpredictable- Goods may be damaged during transit, shipments may be held up causing delays, and sales may be nowhere near forecast. And organizations spend days or even months reacting to these uncertainties and managing the after-effects. In volatile economic markets the impact of such uncertainties can be huge. And this makes it all the more essential for organizations to adopt a strategic model that can help overcome challenges and create a seamless supply chain. Such a strategic model ideally involves these stages: Stage 1- Analyzing the Business Strategy: The foremost step in developing a strategic supply chain is to understand the objectives of the business, and how the organization chooses to compete in the market. This forms the foundation of the supply chain model and helps in designing the supply chain to serve the competitive goals of the business rather than just the operational goals. Stage 2- Evaluating the Existing Model: Assessing the current supply chain model is an essential step to identifying problem areas and weak links which have been affecting the performance of the supply chain. This step also helps identifying the risks involved in the supply chain, based on which the organization can take measures to mitigate these risks and enable better performance. Stage 3- Developing the Strategic Model: Once the problem areas and risks have been identified, there is a clear picture about the setbacks that have to be overcome by the new model. At this stage, all stakeholders in the supply chain have to participate and give their inputs. There are several considerations to be made at this stage including the cost, resources that may be required, whether or not supply chain outsourcing is appropriate for the business, are there any creative logistics solutions which may be adopted for better performance, etc. The supply chain management responsibilities are assigned, an implementation plan is created, and status tracking capabilities are developed. Stage 4- Executing the New Model: Based on the implementation plan developed in the previous stage, the new model is rolled-out. Performance management plays a key role here. The success of the supply chain greatly depends on how the performance in managed during and after the implementation. This is followed by tracking performance. Analyzing the performance metrics gives a clear picture of how the new supply chain model has been working and whether it requires any further improvement.
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richgainscm
Feb 15, 2021
In Blog by RICH GAIN SCM
Prime Minister Narendra Modi on Tuesday , 12th May , 2020 , in his third address to the nation since the lock- down, pitched for an “Atma-nirbhar Bharat” – a self-reliant India and considered strengthening the supply chain of the country as a huge contributing factor. “The Corona crisis has explained to us the importance of Local manufacturing , Local market and Local supply chain. In times of crisis, this Local (market) has fulfilled our demand, this Local has saved us. Local is not just the need, it is our responsibility also. Time has taught us that we must make the Local as a mantra of our life,” Speaking on the same, the Prime Minister mentioned Economy (an economy that brings Quantum Jump rather than Incremental change), Infrastructure (an infrastructure that became the identity of modern India), Our System, (a system that is driven by technology which can fulfil the dreams of the 21st century; a system not based on the policy of the past century) and Our Demography (Our Vibrant Demography is our strength in the world’s largest democracy, our source of energy for self-reliant India) as the other contributing factors in the journey towards making a self-reliant India. He also said, “Self-reliance is possible only through inner strength and self-belief. Self-reliance also prepares the country for a tough competition in the global supply chain. And today, it is the need of the hour that India should play a big role in the global supply chain.” The economic package of INR 20 Lakhs Crores announced by the PM has been made keeping in mind the role India should play in the global supply chain and ensure an increase in efficiency and quality of all the sectors. After COVID-19, India can be at centre of Global Supply Chains: PM Modi (COVID-19) : Suggesting that the post-coronavirus world will demand new business models, Prime Minister Narendra Modi envisioned that Adaptability, Efficiency, Inclusivity, Opportunity, and Universalism would be vowels of the new grammar of business and work culture. Amid the global disruption caused by COVID-19, Modi said that “today, the world is in pursuit of new business models” and that India could play a leading role in what is to come next, and can also become the nerve centre of global supply chains. “India, a youthful nation known for its innovative zeal can take the lead in providing a new work culture,” “India, with the right blend of the physical and the virtual, can emerge as the global nerve centre of complex modern multinational supply chains in the post COVID-19 world. Let us rise to that occasion and seize this opportunity,” he added. Reaching out to professionals through a post on professional networking site LinkedIn, the Prime Minister said India should “rather than playing catch up” be “ahead of the curve in the post-COVID world”. He said India should think about “how our people, our skills sets, our core capabilities can be used in doing so”. He said that “the next big ideas from India should find global relevance and application” and that these ideas should “have the ability to drive a positive change not merely for India but for the entire humankind”. COVID-19 does not see race, religion, colour, caste, creed, language or border before striking. Our response and conduct thereafter should attach primacy to unity and brotherhood. We are in this together. Unlike previous moments in history, when countries or societies faced off against each other, today we are together facing a common challenge. The future will be about togetherness and resilience. On possible “vowels of the new normal” of the post- COVID world, PM Modi explained that it is the “need of the hour” to think of “business and lifestyle models that are easily adaptable” and mentioned “digital payments is a prime example of adaptability”. He encouraged shop owners to “invest in digital tools that keep commerce connected, especially in times of crisis”. Businesses should have “models that attach primacy to care for the poor, the most vulnerable as well as our planet”. “There is a significant future in developing technologies and practices that reduce our impact on the planet.”
Self-reliant India - A Robust local Supply chain : PM Modi content media
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richgainscm
Feb 15, 2021
In Blog by RICH GAIN SCM
The supply chain has become a competitive weapon in the modern, digital economy. The supply chain continues to undergo almost unparalleled levels of change. The older measures - productivity, quality and service - still apply, but we now see digital transformation poised to change everything. The supply chain has increasingly become a critical function for companies to realize their business aspirations and is a competitive weapon in the modern, digital economy. Advanced supply chain capabilities can support more efficient and effective current business approaches as well as new business models that translate directly to business performance that is tangible and measurable. The 2021 worldwide supply chain predictions are: Prediction 1: By the end of 2021, half of all large manufacturers will have automated supplier and spend data analysis, resulting in a 20% procurement productivity gain. Prediction 2 : By the end of 2022, half of all manufacturing supply chains will have invested in supply chain resiliency and artificial intelligence (AI), resulting in productivity improvements of 15%. Prediction 3 : By 2023, the number of companies offering flexible warehousing options will have increased by 50%, which can help address seasonal demand challenges and lower fixed overhead costs by over 25%. Prediction 4 : By 2023, firms will dedicate 30% of their logistics business process outsourcing services budget to process automation, focusing on order, inventory and shipment tracking. Prediction 5 : To lessen stress on the service supply chain, by 2024, 30% of OEMs will leverage blockchain to source spare parts, improving accuracy of usable parts by 50% and lowering expedite costs by 40%. Prediction 6 : By 2024, supply chain micro-application extensions will account for one-third of all new technology investments in manufacturing and retail. Prediction 7: By 2024, 65% of G2000 manufacturers will invest in AI-infused robotic process automation to automate tasks through increased productivity and address supply chain skills deficit. Prediction 8 : By 2024, 60% of warehousing activities will use robots and situational data analytics to enable storage optimization, increasing capacity by over 25% and cutting work order processing time in half. Prediction 9 : By 2025, for transparency and efficiency, 45% of customs agencies will join private blockchain and API-powered trade platform ecosystems to achieve a 50% increase in cross-border compliance. Prediction 10 : By 2025, 75% of all consumer-facing companies will have developed the ability to customize at scale within their supply chains, resulting in, on average, a 3–4 percentage point increase in market share. There are a number of actions that are recommended for manufacturing companies that revolve around thinking about the future of the business, the likelihood of industry disruption, and the specific capabilities technology would be able to add for it’s supply chain: ● Work with small and large partners to accelerate your IT capabilities and serve the line of business. External resources and expertise can help you move quickly and effectively, which is essential in today’s global marketplace. Expand your horizons to include smaller, app-driven capabilities as extensions to broader systems. ● Be clear organizationally that modern, digital technologies are not about replacing people but replacing tasks and freeing up people to focus on more impactful things. ● Evaluate your relative maturity in the adoption of new technologies and, more importantly, your ability to translate those technologies into digital transformation. You’ll probably move more quickly with some technologies, such as the Internet of Things and machine learning, but make sure you’re experimenting with all of the technologies we identify as innovation accelerators. ● Review your supply chain to make sure it’s ready for increasing levels of digitally enabled products and processes. This isn’t just your applications, data centers and networks; it’s also about core enterprise architecture and infrastructure decisions, such as integration and security. ● Not “technology for technology’s sake” but solving business problems or seizing on opportunities. Are you a technology company? If the answer, as it often is, is “no” then work with a technology partner and focus your efforts on how technology helps solve existing business problems or in anticipation of future problems. ● Invest in technologies that provide efficiency/effectiveness today yet enable future capabilities that can enhance resiliency or identify new opportunities. Manufacturers and retailers are rethinking and re-imagining products, services and processes because of the new capabilities that a digitally enabled thinking supply chain can offer. But it isn’t enough just to have technology for technology’s sake. Manufacturers must continue to innovate and create value from their investments in solving business problems or enabling new offerings. The coming years will greatly alter the technology landscape for business functions in the manufacturing and retail industries. While the predictions offered here largely focus on the near term to midterm (2021–2023), the impact of many of these predictions will be felt for years to come.
Worldwide Supply Chains in 2021 : Top 10 Predictions content media
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richgainscm
Feb 08, 2021
In Blog by RICH GAIN SCM
Supply Chain Management (SCM) is the system that connects and integrates the links of logistics management, sourcing, procurement, and conversion of any business. By integrating critical business functions — you can raise profits, reduce risks, optimize costs, and understand how to manage the intricate business systems. Managing everything has a positive impact on any business, as it can make your customer and business happy by keeping the performance high. Happy customer = Happy Business = Higher Performance No matter the size of the business, all successful companies endure SCM as an essential part of their company or organization. Supply management is the conduit whence all inventories flow. Within this journey, it’s ensured to maximize the customer value and also maintain/achieve a sustainable competitive advantage. SCM, under its umbrella, covers areas such as planning, design, execution, and control of business operations. Businesses can analyze supply chain activities to create net value, sustaining a competitive advantage, leveraging global logistics, and many more. Overall, there’s no reason to believe that SCM is not essential to any company or operation. Importance of Supply Chain Management The main reasons for the importance of supply chain management include the following: ● Interconnected Supply Chain: Our world can also be viewed as one significant example of a supply chain. Producers and consumers are consistently communicating with each other, and the product goes through various checks and hands before reaching their final destination. SCM is a valid option, which can manage substantial issues on the growth of partnerships, corporations, outsourcing, and global brand extension. ● Integrated and Collaborative Logistics: Effective supply chain management tends to meet the demands of both consumers and producers with an integrated approach towards management — consequently, its a necessity for the foundation of all societies. ● Better Supply Chain Includes Better Business: For obvious reasons, an improved supply chain can grow your business. Reliable supply chain management can provide customer services with direct improvement. The right product and quantity have to be delivered on time to appease both producers and vendors. Consumers desire to know the exact location they must go to obtain the goods they require. A better supply chain will lead to better business within the company. ● Momentum: Supply chain management streamlines everything from merchandise flow to even some unexpected disasters. Many organizations lack risk management due to not being able to take care of potential problems efficiently. With effective supply chain management, organizations can diagnose disruptions and concerns accurately. Implementing and optimizing a supply chain can undoubtedly transform a number of struggling processes in any supply chain. Also, leveraging technology, data visibility, and proper demand planning can help turn a failing supply chain around and keep it competitive. Published By
Supply Chain Management : It matters to Business! content media
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