Logistics managers are tasked with every last detail in a retailer’s supply chain and managing it effectively requires partnering with vendors you can trust, as well as investing in technologies that help streamline processes.
Here are four ways logistics managers can improve their supply chain management efforts to see big increases in revenue.
1. Go Digital
Using spreadsheets and paper files to keep track of inventory and plan purchasing is both unreliable (susceptible to human error) and a huge time suck. Not to mention, using analog methods to keep an eye on your operations isn’t congruous with the demands of today’s “real-time” world.
It’s important to partner with vendors that take advantage of EDI (electronic data interchange) and cloud computing technologies so that you’re able to work at a productive pace while keeping errors at a minimum.
2. Run a Vendor Audit
It’s important for logistics managers to have a solid, holistic view on their supply chain, including how various vendors operate internally and amongst one another. If your freight forwarder doesn’t have a solid communication strategy in place with your trucking provider, delays and miscommunications can delay shipments.
If your trucking and warehouse vendor is still relying on faxes, phone messages and spreadsheets to keep track of your inventory, it may be time to consider investing in a more forward-thinking provider utilizing today’s technologies to keep your operations running smoothly.
Inspect every element of your current process with a fresh eye to determine if there may be opportunities to tighten up process or upgrade vendor services if necessary.
3. Measure, Analyze, Adjust
In light of the access to information and data available to today’s business leaders, there is no excuse why decision-makers wouldn’t be taking advantage of solutions found in the data.
Accounting for key metrics and holding the vendors in your supply chain accountable for them is a must if you plan on staying competitive in your industry. With the unprecedented number of consumer options available today, and a younger generation of tech-savvy entrepreneurs entering every market space, today’s established retailers must rise to the task of finding ways to measure a large set of data points.
If your organization doesn’t have process in place to gather data-driven insights that can uncover opportunities in your supply chain management, you are losing out on the possibility of increased revenue.
4. Invest in a “One-stop” Partner
While smaller, boutique vendors may come with a slightly higher price tag, they often provide their customers with a major advantage in the world of shipping: agility.
Rounding up your port logistics, drayage, trucking and warehouse services so that they are all being handled under one roof can provide huge advantages for logistics managers looking to capitalize on last minute market fluctuations or unexpected situations related to inventory and fulfillment.
As a logistics manager, you need a partner to help you strategically manage and successfully move your products out of the port and onto their final destination. Review your current processes and check them against this list to make sure you’re doing all you can to maximize profits and improve operations.
For detailed information, maps and contact information for the ports of Los Angeles and Long Beach, be sure to download a free copy of our Comprehensive Port Service Guide.