Supply Chain Disruptions – Weathering the Supply Chain Disruptions Storm
Weathering the Supply Chain Disruptions Storm
Companies that did or have invested in new technologies have fared better than those that are still doing a lot of their processes manually. Emerging technologies ranging from Artificial Intelligence (AI) and Internet of Things (IoT) to track and automate their supply has helped them weather the supply chain disruptions better. However even with the emerging technologies, most of the companies agreed that the more accurate information they provided was the key to being able to navigate the disruptions. How can you weather the supply chain disruptions storm?
- Communicate with your suppliers
- Gain more real-time information
- Plan ahead
Gain more visibility of your supply chain with real-time information. For example, production planners should have information about when goods will be arriving. Whether this is raw materials or products that are going to stock shelves, real-time information is critical. Using this information, the production planners can set their production schedule or warehouse movement with more accuracy. A first step to real-time information is to automate the information you receive from your suppliers. Through Innovate’s Supplier Portal, your suppliers will be able to send you a Purchase Order Acknowledgement that will verify the receipt of your order and notify you of any discrepancies. The Supplier Portal can also generate the Advanced Ship Notice to alert you to when the goods will arrive.