Supply chain management – Optimal way to deliver the best quality at the minimum cost Supply chain management is to manage the resources in an optimal way in order to make the availability of the right product at the right time and at the right place. Effective and efficient supply chain management helps in achieving a good reputation in market. This is done through properly maintaining the entire product development cycle from the procurement of the raw materials to the finished goods and delivering value to the end user. It allows keeping a check on the resources and goods at every phase and cycle in supply chain. Effective management of the supply chain allows companies to deliver the best quality of the product at the minimum cost. Group50, a renowned supply chain consulting firm has effectively managed supply chains of all sizes from $20M to $4B. They use various methodologies and understand companies need to be effective at designing products, defining services, forecasting, acquiring materials and resources, purchasing and delivering those products and services to their customers. And they need to do it with lower cost year in and year out. 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. Companies focus on supply chain management for increasing their profit levels along with a motive to keep their customers satisfied. The entire supply chain process has to be planned properly otherwise it would result in proper functioning of one department but not the other. The flow of information and resources has to be distributed as needed across all the channels and departments of supply chain. For example, companies might deliver the product on time but the consumers might not get them on time. Consulting a supply chain management firm that has years of experience in the business can prove really beneficial for your company. These consultants work by bringing a fresh prospective to your company. The consultation firm would provide you the suggestions in the areas where you can improve and combine operations that can enhance efficiency. They have enough tools, resources and knowledge to analyze each and every aspect of supply chain from the headquarters to the manufacturing plants, shipping centers to the customers. After carrying out this analysis, they would provide you a set of recommendations and observations in order
to make the supply chain more efficient and productive. This could mean in making some certain changes in the manufacturing process or going with the services of third party providers in shipping or packaging. With good supply chain management consulting, you can make your company profitable and at the same time both your employees and customers happy. 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/