As the rate of globalization amplifies, industries in Canada continue to expand the reach of their operations and increasingly become dependent on the accuracy of their supply chains. A study conducted by Deloitte concluded that businesses utilizing assets from different parts of the globe spend over 90% of their resources on supervision of supply chains and inventory systems. Only 8% of these businesses operating without efficient procedures for supply chain management could grow their revenues at an above-average rate.
Adapting to inventive and standardized protocols for improving the visibility and the efficiency of supply chains can help businesses optimize their manufacturing expenses up to 28%. Implementation of effective supply chain improvement strategies also optimizes your business’s inventory accuracy, increases its asset life and enhances the reputation of your brand.
Here are a few key methods to improve your business’s supply chain management:
1. Identify Innovation Partners
Despite adapting to advanced practices for manufacturing and client management, most businesses are inclined to use traditional methods for tracking and managing their inventory. However, identifying innovation partners and implementing advanced ERP (Enterprise Resource Planning) systems can help companies increase their growth capability up to 11%. Consult our experts to know more implementing management systems specifically tailored to your industry.
2. Increase Your Chain’s Visibility
To enhance the productivity of your supply chain, increasing its visibility is essential, and there are a lot of options out there. Installing innovative traceability systems can help your business save a significant amount of time otherwise employed in tracking the merchandise at each stage of production. Jet Marking Systems provides a wide range of advanced vision systems and printers (thermal and inkjet) that enhance your inventory management considerably.
To enable traceability at every level of the supply chain, we provide barcode scanners and vision systems from manufacturers like Zebra and Microscan which work especially well for Lot and Pallet tracking. Leibinger Jet3 inkjet printers can mount onto your production line and print codes and images directly onto the surface of the product.
The Zebra ZT400 and Sato CLNX are examples of reliable, durable label printers that make lot tracking simpler by printing barcodes onto stickers. Add an automatic label applicator to complete the automation process here. Jet Marking Systems partners with manufacturers of durable and rugged scanning systems. These scanners can hold up when dropped or exposed to extreme environments optimizing the process of inventory storage.
Last, but not least, consider using RFID for tracking your products along the supply chain as well. Using RFID tags, an item can be scanned from a distance without a camera or a physical reader. This can be useful for freeing up labour costs and reducing errors, as well as further automating the tracking and traceability of an item.
3. Manage Information
Most advanced traceability equipment allows businesses to record and tabulate data in real-time. However, it is also important to manage this information effectively to enhance your productivity. Reliable Information Management Systems (IMS) can help you maintain an accounting standard across all data-management structures. This helps you derive better insights and implement effective solutions to improve your supply chain management.
4. Implement a Single Solution
Establishing a standard metric across all your supply chain verticals is necessary to gain insights from the data collected. Accurately assessing the information collected in real-time helps manufacturers keep a better stock of their inventory, reduces miscommunication and enables you to react to sudden changes in demand in particular markets.
Implementing these supply chain improvement strategies can help your business enhance its inventory management. Consult our team at Jet Marking Systems to learn more about employing these solutions, or contact us to request a quote for your business.