The Right Products…At The Right Time
Having the right products at the right time and at the right cost is the goal of good supply chain management.
This seemingly simple process can make or break a company.
In today’s competitive and crowded market, anything less than an excellent supply chain management can destroy a company – even if you’re offering a superior product. For a manufacturer, if you cannot consistently have the materials you need to manufacture your end-user product at the time you need them, your customers will find other sources. For a retailer or wholesaler, if you do not have the product your customer wants at the time your customer wants to buy it, they will find another supplier.
In earlier times, carrying a large inventory of materials or product to assure availability at any given moment was the solution.
However, in today’s marketplace few companies can afford this luxury. The costs of overstocking inventory are just too high. Therefore, companies must assure that their suppliers will be able to get what they need to them “just-in-time” and to do so consistently. Making matters even more challenging, you must find ways to do this while increasing control over your cost structure.
Technology has enabled modern, well-run logistics companies to be able to meet these needs. You need to assure that the companies you choose to support your logistics needs will drive improvements in efficiency and effectiveness. You can lose a customer if you cannot get them what they want when they want it and at the cost they are willing to pay.