Supply chain management is a critical function for any small to mid-sized business. Yet, too often companies rely on spreadsheets to manage supply chain activities — a risky prospect that’s labor-intensive and error-prone.
A better option is to bring these activities into your financial management or ERP system. Centralizing tasks such as order filling, inventory management and delivery tracking can positively impact sales, improve cash flow and keep you tax compliant.
Here are five ways that ERP supply chain management benefits your bottom line.
Right-sized Inventory
Getting inventory right can be tricky: too low, you risk losing customers; too high and you’re left holding the bag, so to speak.
Control Quality
Dealing with defective materials or products can be a drain on your business. Not only can it hurt sales, but it can also damage your reputation.
Optimize Shipping
Web sales have made fast, affordable shipping a must-do for all businesses. Keeping track of goods coming and going can become burdensome, not to mention the hassle of dealing with lost or late shipments.
Improve Cash Flow
Invoicing practices can greatly impact your cash flow. Moving from a manual process to automation allows you to process invoices faster and shorten the order-to-cash cycle.
Be Compliant
Navigating complex and ever-changing trade and tax rules can be daunting. Being part of a supply chain compounds that risk.
Read more at Close the Loop on Supply Chain Risk: 5 Strategies to Move Product, Boost Sales and Automate Efficiency
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