With the growth of technology over the last few years, a lot more tools have become available for businesses. Supply chains are managed more efficiently today using the latest supply chain software. Most of these have useful features allowing you to streamline your operations from beginning to end.
Management Tools
There are a lot of software tools you can use for managing products. Some of them are stand-alone programs or applications. Other types are part of a broader solution like enterprise resource planning systems or customer relationships. Here are five of the most common features you’ll find in supply chain software:
- Inventory management tools are used to track and manage the availability of stocked goods, spare parts or raw materials. This can also be useful for managing assets, price forecasting, barcode integration and managing upcoming inventory.
- Order management features are helpful for automating purchase orders. One example might be creating configurations for pricing or products, scheduling supplier deliveries, tracking purchase orders or generating them.
- Logistics and/or shipping status features help coordinate transportation. This can improve customer satisfaction and delivery performance. Warehouse management falls under this category and the software can be used to help optimize storage, labor management, labeling and a lot more.
- Forecasting features help take the difficulty out of anticipating customer demand, as well as planning procurement and production processes. With efficient forecasting, there’s no need to purchase extra raw materials or store excess goods in warehouses, which ultimately reduces your cost.
- Return management features help process refunds or insurance claims and can be used for inspecting returned or faulty goods.
Some supply chain software also includes other options and modules that can be a great support to many of your processes like product life cycle management or contract management.
Are you ready to learn more about how supply chain software can help your business? Visit the Business Name website to speak with a professional today!