Supply chain consulting to help fine tune business operations and gain a competitive edge in its domain Supply chain management is the process of analyzing the entire supply chain in order to identify the changes required to increase its efficiency and productivity. Its aim is to generate cost reductions without affecting the quality of the product. It looks at the effectiveness of the operations on a global level which leads to the organization’s economic growth. Through effective supply chain management, organizations can make the whole process faster and cheaper. Through competent supply chain consulting solutions, organizations can get insight to drive optimum value from their supply chain. These consultants will lead to alignment of your supply chain with your business strategy. They fine tune the business operations and optimize the supply chain, giving your organization a competitive edge in its domain. Group50, a leading supply chain consulting firm has effectively managed supply chains of all sizes ($20M - $4B). Their supply chain management consultants understand that companies need to be effective at designing products, defining services, forecasting, acquiring materials and resources, purchasing and delivering the products and services to their customers. And, they need to do it with lower cost year in and year out with supply chain optimization. Supply chain management is achieved by focusing on the key elements such as upstream, cash flow, inventory, logistics, value, information, distribution, downstream. Optimization occurs when all these elements are driving increased profits, minimal working capital and shorter lead times. Today’s supply chains are run by digital backbones and they combine all aspect of a physical supply chain with IT enabled processes. It is basically the integration and implementation of advanced technologies such as blockchain and Internet of Things (IoT) in the supply chain which enables in driving improvements to traditional supply chains. Blockchain is a transformational technology that records transactions between two or more parties in permanent and encrypted ledgers. This technology is becoming a game changer in a way for managing the supply chains. Supply chain management is complex as it involves multiple stakeholders such as manufacturers, suppliers, distributors, retailers and consumers and it becomes difficult to trace all the transactions. The need of traceability and transparency
has generated the use of blockchain technology in supply chain. This helps in streamlining the workflow and provides the opportunity to the organizations to change the existing way how they operate their supply chains. Internet of Things (IoT) offers a connected ecosystem which affects every possible global industry. One of the major beneficiaries of it is supply chains and they are facing a significant transformation because of IoT. Organizations are deploying this innovative technology into their processes in order to gain a competitive edge. With IoT integration into the processes, companies can achieve real time visibility and can effectively respond to the unforeseen conditions. IoT devices can easily track assets, raw materials and finished products and can also provide timely data critical to supply chain functions. Group50, a leading supply chain consulting company have designed and implemented optimized supply chains in many industries as a result of the experience and knowledge of best practices and an integrated approach to designing and implementing an optimization roadmap. They will work with the senior leadership team to develop an optimization roadmap and implement a continuous improvement program that will generate 5-10% cost improvements, reduced working capital requirements and reduced lead times year over year. Visit: https://www.group50.com/