Improve Internal Processes

Every day in the news there are stories of the supply chain disruptions. Shutting down the US economy and restarting it exposed many inadequacies in the US and global supply chain. Allied Market Research’s article “Supply Chain Management Market” reported that only 6% of companies reported they have full visibility in their supply chain, while 69% of companies do not. Of the 6% that report they believe that information from their tier 1, 2, and 3 suppliers was key to their visibility. Do you have that visibility? Three key factors to gain visibility are:

1. Improve Internal process efficiencies
2. Integrate your systems
3. Information, Information, Information

COVID-19 caused many disputations in the supply chain, but there were many before then. Hurricane victims could not get generators, bottled water or wood. After major flooding in an area, P&G’s Tide made a huge impact because they brought washers and dryers to flood victims so they could enjoy having clean clothes. All of these disasters exposed manual processes in the supply chain. What can you do today to improve your supply chain? Replace your manual process sending your orders to your suppliers with Innovate’s Supplier Portal. Your suppliers can receive your orders electronically, send you the Purchase Order Acknowledgement, the Advance Ship Notice, and the Invoice.