Designing a system or business strategy to minimize the risk of future events, known as “future-proofing,” is an important part of supply chain management. When done correctly, future-proofing can reduce years of inefficiencies and save a business millions of dollars along the way.
With proper planning, you can better avoid supply chain disruptions down the line. Future-proofing a supply chain is rewarding, but the process might not always be simple. Luckily, you do not need to figure out the process on your own. Brown West Logistics has been working with an eye to the future for many years and can help you apply foresight to your business strategy.
Technology is the most effective tool in future-proofing a supply chain. Building a variety of data analysis tools into the supply chain ensures that decision-makers have all the information they need to address changing circumstances. Data alone are not enough for future-proofing. How a business uses that data is as vital as the numbers themselves.
Businesses should work continuously to optimize every aspect of their supply chain, so they never fall behind the industry standard. One of the ways you can respond to data and other indicators of inefficiencies is by automating certain processes like inventory counting, for example. Automated systems do not need to be trained when industry shifts occur and can instead be operated remotely with input codes, saving business owners and managers time and money in the process.
Removing barriers to vital information can be a powerful tool when future-proofing your business. The sooner executives obtain information from front-line workers about possible delays or shifts in demand, the sooner they can take the necessary steps to address it. These barriers also exist outside of businesses, limiting a company’s ability to communicate with external suppliers, impacting optimal decision-making up and down the supply chain.
An agile supply chain is better equipped to respond quickly to shifts in the industry, making it possible to avoid the losses that might come with a sluggish management approach. The reality is many supply chains are not agile enough. However, technological innovation can go a long way in creating a flexible supply chain that easily addresses any issues that come up in the future.
In recent years, a new kind of consumer has had a major impact on retailers across the country. More and more consumers are demanding ethical, sustainable products that impact everything from how they are sourced to how they are packaged or sold. These supply chain details have become an important part of marketing.
With that in mind, it often benefits many businesses to address corporate responsibility now instead of waiting for it to become a problem later. In many ways, the cost of increasing earth-friendliness will only go up over time. Adopting a social commitment to match the customer base is best undertaken sooner rather than later.
Relying on the experience of 3PL providers is another way to future-proof your supply chain. A 3PL provider offers flexibility that is not always available when you rely on internal warehousing options.
A 3PL provider like Brown West Logistics can help future-proof your supply chain by providing personalized solutions tailored to your specific needs. Contact us right away to learn how we can help improve the resilience of your business.