This is the era of global business and trade, the likes of which have never been experienced before. The driving force is the changing expectations of demanding customers. Continuous technology innovation brings integrated capabilities to deliver goods and services with speed and accuracy.
In this scenario, inventory management and dispatch management are critical.
The importance of Inventory Management Systems
An inventory management system is a process by which you track your products and materials through the supply chain. It keeps the business aware of the levels of all the products involved starting from purchasing to the production process and right up to the points of sale
Inventory management systems are needed to handle stock and control inventory levels accurately so that overstocking or understocking problems can be avoided. For example, to assemble your products will need several raw materials, components, or ingredients. Your inventory management system will calculate the quantities you need and give you up-to-date information on what is available in stock and what you will need to purchase to meet your production goals and meet market needs.
There are dedicated Inventory Management Software (developed specifically for your business) and off-the-shelf Enterprise Resource Planning systems, which take care of all aspects of business planning. Each has its advantages and disadvantages.
The importance of Dispatch Management Systems
Dispatch management system help automate routing and scheduling so that deliveries are completed efficiently. It cuts the time taken to procure raw materials, make products and deliver them to customers.
A good dispatch management system will give you control over the transportation process with rapid response capability if something goes amiss. It can be scaled upwards as your business grows.
The most successful supply chain solutions revolve around bringing people, processes, and technology together for the highest levels of customer satisfaction.
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