Benefits of introducing blockchain in supply chain

There are many new digital technologies introduced with the promise of developing manufacturers and supply chain management. But, it is a challenge for a management team to choose the right technology that really brings fruitful benefits. Today, blockchain technology is grabbing huge popularity because it can provide solutions for managing the complicated network of the supply chain. Blockchain Technology is based on a decentralized approach for data management and sharing as well as plays well in improving transparency, speed, and responsiveness of this complex ecosystem.

 

A blockchain supply chain works well in recording the price, date, quality, location, and other important information of the supply chain participants in an efficient way. The easy availability of information in the blockchain improves traceability of the material in supply chain, improves visibility and compliance over outsourced contract manufacturing, minimizes the loss caused due to counterfeit products as well as improves the organization's position as a trusted manufacturer.

 

Blockchain ensures outstanding transparency in the supply chain and reduces cost as well as risk across the supply chain. The blockchain supply chain offers various benefits that include:-

 

• Improve traceability of material in the supply chain to meet the corporate standards.
• Reduce the chances of losses caused due to counterfeit/gray market trading
• Enhance the visibility and compliance
• Diminish paperwork and administrative cost of the event
• Ensure time stamping, automating transaction, and tracking for real-time audit
• Eliminate the role of intermediaries like brokers, bankers, and insurers
• Set up a wide range of self-executing contracts for automatic repetitive processes like shipping and billing
• Work well for establishing proof of quality, payment, and provenance
• Eliminate the risk of public relation from supply chain malpractice

 

Blockchain technology plays well in increasing transparency and accurate end-to-end tracking in the supply chain. Companies can digitalize physical assets and develop a decentralized immutable record for the transaction. It can make it easy for tracking assets from production to deliver of products to the end-user. This will improve transparency in the supply chain and provide more clear visibility to both business and consumers. It also helps in reducing the chances of fraud for high-value goods such as pharmaceutical drugs and diamonds.

 

Further, it also enables to maintain control over outsourced contract manufacturing. Blockchain allows all the participants to access the same information that reduces communication barriers or transfer data error. By spending less time, the data can be validated that improve quality, and reduce the cost. Apart from this, Blockchain can prove beneficial in streamline administrative processes and reduce cost by ensuring efficient audit of supply chain data.

 

Group 50- To get professional blockchain supplying consulting services

If you are also planning to introduce blockchain in your supply chain management then hire professional supply chain blockchain consulting services. Group50 is one of the trusted consulting firms which have been dedicatedly engaged in providing blockchain supplychain consulting services. At Group50, they are supported by subject matter experts who have years of experience in working with different industries. They use a holistic approach to optimize the supply chain that includes integration of systems operated by customers, company, consumers, suppliers, logistic companies as well as the strategic needs of the business. Call today to professional blockchain technology consultants services.

 

Potential advantages of blockchain in supply chain

The introduction of blockchain technology has played a significant role in transforming the businesses in different ways. But, when it comes to the potential of blockchain in supply chains, its decentralized nature makes it more appealing by ensuring more transparency, increase efficiency, and reduce paperwork. For the supply chain, blockchain enables better visibility and enhances transparency in all levels of the logistics network. Even, many companies’ hire supply chain blockchain consulting services to enjoy its complete benefits.

Offer greater transparency

From the past few years, we can see that consumers are focused to know the origin of products they are purchasing and how it was sourced. However, many systems are struggling in tracking the products back to the manufacturers as a result companies are unable to track the customer demands for transparency. The distributed ledger can resolve this complex challenge with the best solution.

Transportation logistics is one the big part of the supply chain which is dealing with the complexity of coordination across many partners. The introduction of blockchain in supply chain logistics has proved beneficial in exchanging information.  With this, it is possible to create and maintain a transparent and immutable log of supply chain activities for better accountability and operational transparency. By offering better transparency in the supply chain, it will prove beneficial in improving trust between retailers and end customers.

Enhance supply chain visibility

Another biggest issue faced by the supply chain is lack of visibility which is a sticking point for businesses and modern consumers. Globalization, competition, and growth complexities are spread in the market which makes it difficult for companies to handle their supply chain. Also, companies are facing difficulty in meeting the growing demands of consumers in a short time, quick deliveries, and error-free shipments.

But, the development of blockchain in the supply chain brings a transformative change in it by offering a transparent and more efficient way for recording transactions and managing inventory. Distributed ledger technology ensures the immutable and instant storage of information, tracking the journey of goods in detail, enforcement timelines, identify SKUs, measure units, and help the business to get a single of the supply chain.

This visibility feature allows companies to find inefficiencies in the network so that they can eliminate the role of middleman and exert great control on the logistic operations. They enhance visibility in the supply chain that make less shipping error, less missed deadline, low operational costs, and improve customer services.

In short, we can say that a supply chain is a group of complex activities that focused on cost effective delivery of products and services. There are many people associated with the supply chain process and focused on providing good services or products to the customers.

If you want to reap the benefits of blockchain in the supply chain then you should hire professional Supply chain blockchain consulting services from Group50. They are supported by a highly talented team of subject matter experts who have extensive years of experience in the industry and provide the best Blockchain Consulting & Solutions.  Contact the Group50 experts today to get professional Blockchain Consulting & Solutions

 

Supply chain management – Integrating intricate and dynamic supply and demand network

Supply chain and its effective management is extremely crucial factor for the success of any business. It acts as a bloodline of any business and especially that are into manufacturing of any product. Supply chain management is all about the effective utilization of business resources for the reduction of costs associated and maximizing the added value. This has become a necessity and effective tool for organizations to compete effectively no matter they are operating at local level or global scale. SCM is a coordinated network of multiple processes, activities, people, information and resources for turning raw materials into finished products and then delivering them to the end users. It helps in integrating intricate and dynamic supply and demand management.

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.

Nowadays, the business environment has become more competitive than ever before. For this, companies need to focus on their core competencies to distinguish it and stand out amongst other business competitors in the market. They need to rethink about their objectives and divert the resources. In this case, the companies can focus on the tasks that they are best at and outsource the processes that do not lie in their core competency and do not contribute towards the overall objective of the business. In this dominating and competitive business scenario, this has become the best way for companies to thrive and succeed. Supply chain management not only impacts the company’s position in the market but also assist in taking effective strategic decisions for choosing the right manpower, resources and partners.

With a properly implemented supply chain management system, the competitive areas of a business can be used to the optimum advantage. Through effective communication between all the channels and stakeholders, fulfillment of orders is ensured. Logistics is enhanced, transportation costs are decreased and production processes run smoothly. Supply chain management eliminates the chances of delays happening earlier due to ordering and transportation. SCM also makes the company more agile in its strategies, making them respond to unforeseen situations in a better and enhanced way.

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.  

 

Business transformation consulting insights to help companies adapt to new and innovative strategies

Business transformation is a significant part of organizational development. One of the most important rules for any business to remain successful is to reinvent themselves and adapt to changes on a continuous basis. Companies that understand this rule always remain on the competitive side by changing themselves according to the market scenario. In this, the people, process and technology are aligned in a way to meet the business vision and objectives. A change in the business model can be required because of many reasons. They could be emergence of digital technology that needs to be incorporated into business, social engagement and more efficient ways of computing. This change management strategy aims in adopting new and innovative strategies.

Group50 a leading business transformation consulting firm,  follows the practice which elevates the transformation game with experienced business transformation experts and IT consulting capabilities to speed implementation and value realization for their clients. Their engagement begins with an assessment, followed by more in depth workshops and project management to guide and drive implementation. They optimize operations, leverage innovation enabling technologies, and elevate the transformed process with embedded analytics and new innovative capabilities including artificial and or cognitive intelligence.

Business transformation can be categorized into two forms mainly:

Operational transformation

For this type of transformation, different ways of digital technology are utilized for bringing in operational efficiency. The processes are operated at a better, faster and cheaper pace.

Strategic transformation

In this strategic transformation, all the existing strategies are modified or completely changed and the newer ones are adopted. It is about changing the core or essence of the businesses.

It is commonly seen that middle market companies face many of the same challenges as large domestic and global companies driven to significantly change their business model. Businesses need to adapt more innovative ways to improve employee experiences, provide better customer service, increase revenue and higher market share.  With business transformation, all the processes get streamlined and organizations become more agile in adapting the changes in an easy and quick manner. The processes and activities are modified in order to meet the new business objectives. Unlike their larger competitors, middle market companies lack in resources for effectively planning and making business transformation changes. In such scenarios, they need to:

·         Re-invent and simplify business processes to remove complexity and uncover new efficiencies.

·         Improve business performance with data driven insights.

·         Infuse speed of execution and increase organizational agility to respond quickly to new opportunities and competitive threats.

·         Leverage new models of computing (cloud, software as a service, platform business services such as ERP, MRP, HRIS, CRM, etc.) to reduce cost of operations which are non-core to the business. The end result is to free up capital and human resources to focus on core aspects of the company to drive growth and profitability.

 Business transformation consulting services can surely help businesses carry out this strategy. They act as the management’s helpline and can provide valuable advice to the top and middle management of the organization. Business transformation is not a one-time process instead it is an ongoing process. Of course the consultants can start the ball rolling but after then it is the responsibility of the management and the company’s workforce to keep the pace and carry out the process successfully till the end. These consultants would bring a diverse set of experience and a higher level of skill set on board. They have carried out such projects before also and understand what it requires to make the process effective and successful. This is definitely one of the major reasons why companies seek business transformation consulting services.

To utilize your resources to the optimum level and taking your organization towards the road of business transformation, consult a renowned firm like Group50. They focus on various areas of business transformation and utilize over 50 assessments and workshops designed to provide a client’s leadership team with the appropriate insights to how their business operates and identifies the opportunities to significantly improve business performance. Their consultants have the resources and skills set that will enable them to make the entire transformation journey with their clients.     

For more information, talk to a Group50’s Business Transformation expert today!

 

  

Strategy execution consulting to formulate and execute strategies with a systematic approach

 

Strategic execution is the method of implementing the business plans. It is a common scenario where most of the companies aren’t aware of the right way of doing this. They lack a proper framework and mechanisms that constantly remind all the stakeholders that they need to use the business strategy as the litmus test for everything they do. This is the reason they fail at executing their corporate strategies and meeting the expectations. All the business stakeholders tend to get so caught up in the day to day noise that strategy becomes somewhat void.

If you have a strategy execution process in place, this will not happen to your business. Group50, a leading strategy execution consulting firm has worked on many projects and they rigorously test their activities against the business hierarchy of needs developed by them. These needs are applicable to any organization, industry or group. They apply various tools, cloud based software systems and assessments that are designed to identify strategic and operational gaps throughout the company and workshops that are designed to engage process owners and functional leaders in the development of roadmaps that address identified gaps. 

Although your firm’s strategic planning may be detailed, accountable and result driven. But it all goes in vain if it is not executed properly. The strategy may sound good on paper but the reality is to effectively execute it. Strategic execution is all about tuning and implementing your business planning in order to produce the optimum results.

Importance of strategic planning and execution consulting

Provides a sense of direction

Strategic planning and execution aligns your business activities and processes with its core objectives. Due to the ever changing business environment, work pressures and strict deadlines; your company tends to lose its way. Without setting a proper way to execute your plans; resources and tools aren’t utilized effectively. On the other hand, the companies having a right method handy have a sense of direction in which they can head for a desired state.

Bring an external perspective

A good consulting firm would have years of experience and have executed many projects successfully in multiple industries verticals. Some of the projects on which they have worked might have faced the similar challenges just like yours. They have a greater level of expertise that will enable them in providing long term solutions to your business. They will definitely bring a fresh and unique approach of looking at the underlying issues and would also not let you settle down on short term fixes.  

Enhances communication

For effectively executing the strategic plans, communication becomes essential between managers and the team. It exemplifies the commitment of the workforce towards the business objectives, and they become responsive and innovative in their work strategies. It fosters efficiency, productivity and growth of the company.

Helps formulate and execute strategies with a systematic approach

It is one the most significant advantage of the effective consulting services that can aid your business. These consultants apply logical and systematic approach that completely contributes towards developing and executing strategies in a better way.   

Give feasible solutions to the difficult questions

Before the development of a strategic plan and executing it, the organization will face all the challenging scenarios. These consultants can provide a proper way of implementing all the management processes. They will also provide feasible solutions that will give the leadership a complete understanding of the strategic opportunities that lie in front of them and also realization of the company’s full potential. 

Gives a competitive advantage

It provides a foresight into future challenges and the methods to tackle them before they become worse. This in turn provides a competitive advantage to your company over others in the market and improves overall sales and finances.

For having a clear understanding of the strategies and how they need to be executed, every company must utilize the strategy execution consulting services. Consultants at Group50, utilize the “Where to Play – How to Win” approach to strategic planning. They have all the robust tools and methodologies to make you effective at strategic execution.

To find out more on strategic execution consulting, you can talk to an expert at Group50. 

 

 

 

   

Benefits of hiring professional managing your supply chain management

In this cutting throat competitive era, the manufacturing processes need to be getting automated for its smooth and efficient running. The success almost depends on the competitiveness of the strong supply chain network. It plays a vital role in deciding the sustainability of the business. Supply chain elements include logistic network, warehouse layout, vendor management, inventory norms, and other factors that will drive your customer’s satisfaction rate. If any of these elements are not working properly then it will impact the sales and hinder your business growth. It means businesses should have excellent management skills and experience in handling these aspects.  

If you want to hire an in-house team for managing these factors you need to spend on setup the structure, hiring the resources, and work on their training program also. But, hiring the services of a Supply Chain Consulting Company can help you speed the optimization process and provide the best solution without spending much. From process design to optimization, supply chain consulting will work with you and provide solutions according to business needs.

Reasons for hiring supply chain management consulting

 We are sharing key reasons for hiring supply chain consulting services:-

 

1.      Collect information

They work to solve specific issues of supply chain problems and take improvement initiatives as well as accomplish the need for large quantities of current data accurately. The expert’s consultant will dig up the information and represent it in a usable data form. They take less time than normal to acquire the information internally. 

 

2.      Problem-solving

It is difficult to identify the hard problems and solve them with internal resources alone. The supply consulting company will work on your supply chain and analyze its key objectives and impartial points that need more accurate problem identification and effective solutions.

 

3.      Recommend actions

After identifying the issues they provide different solutions for it. The management consulting firm will evaluate all possible solutions and recommend the one that works well and cost-effective too. Consultant services prove highly beneficial especially when the action is sensitive. 

 

4.      Implementation 

The supply chain consulting can recommend for supply chain improvements or solutions for the problems. They will also help you in its implementation process especially in complex projects. 

These are the main reasons where you need a supply chain consulting partner for the smooth running of the business. Apart from this some reasons also include:-

• Act as alternate for permanent internal resource
• To implement new ideas and practice into the supply chain
• Facilitate internal learning

 

Benefits of supply chain management consulting 

 

Now, we talk about why companies engage in supply chain consulting firm and how it benefits them. Many companies recognize the value of consultants and hire for their business improvement. The key advantage of hiring a supply chain consultant or firm:-

 

• Objective:- Supply chain consulting professional provide a new, fresh and impartial point of views which is free from any internal influences like politics and culture
• Focus:- The best thing is that internal company managers can trust the consultant to resolve the problems related to supply chain management. The consultants are very focused on their work and ensure the smooth process of the supply chain.
• Experienced:- The supply chain consultants are highly experienced and dealt with the same issue in many organizations. It means they have relevant tools and experience in identifying and solving the issue without wasting time. 
• Skilled:- They are subject matter experts of the supply chain and have the necessary skills to execute the project successfully. They have qualities of project management, communication, leadership, and analytics.  

Do you also want to optimize your supply chain or need assistance to understand existing strategic and operating gaps in your company? If yes, then Group50 is one of the trusted supply chain consulting service providers that can help in resolving your issues. They are supported by a highly skilled and talented team of supply chain experts who have extensive experience and knowledge of best practices to work with different industries of supply chain management. Group50 experts implement projects in the following areas:-

 

• Supply chain modeling
• Purchasing
• Vendor rationalization
• Sales, inventory, and operational planning
• Logistic optimization
• Vendor management inventory
• Technology optimization
• Change in technology
• Vendor scorecards
• Plant and DC rationalization and more.

 

You can contact the Group50 consultant to get more information about their services and share your requirements with them. 

  

Key Drivers of Supply Chain Management that Help Tackle Market Uncertainties

Supply chain is a network of factories, suppliers, logistics, warehouses, distribution centers and retailers. Through this entire process; the raw materials are acquired, transformed, manufactured and deliver to the end user. It is dynamic process that has multiple functional areas where each chain member requires the constant flow of information, materials and cash for the proper working of supply chain. The main objective behind effecting managing a supply chain is the delivery of final product to the customer at cost-effective price.

Every stakeholder in the supply chain needs to cooperate with their partners in order to maximize the profit by meeting the customers’ needs. Managing collaboration isn’t easy as each party has its own objectives and resources. Supply chain management is all about bringing the required cooperation and understanding among all the stakeholders. It enables in bringing real-time cooperation and quick decision making across multiple level to tackle uncertainties. It is a powerful tool which enhances responsiveness towards the ever-changing market conditions thereby increasing the competitiveness of the organization. Through this, the right product at the right place and at the right time can be delivered.

Supply chain management solutions

Most of the companies are focusing on supply chain management in order to reduce cost and to leverage new innovative strategy. Group50, a leading supplychain consulting firm has managed supply chains of all sizes from $20M to $4B. They use a unique set of methodologies. These consultants understand companies need to be effective at designing products, defining services, forecasting, acquiring materials and resources, purchasing and delivering those products and services to the customers. And they need to do it with lower cost year in and year out. Supply chain optimization is achieved by focusing on the various key elements such as downstream, upstream, cash flow, inventory, information, logistics, distribution and value. Optimization occurs when all these elements are driving increased profits, minimal working capital and shorter lead times.

Key drivers for supply chain management

Globalization

All the external forces such as local competition, legal changes in policies and regulations, pressure from other competitors affects an organization’s ability to meet the market demand. Due to this, businesses face a lot of challenges in facing the customers’ requirement at a global level. Globalization of supply chains has eliminated the product barriers which have forced companies to adapt to the new change policy. Effective supply chain management has enabled them to bring a constant change in their strategies.     

Sustainability

Achieving sustainability across all the aspects of supply chain has also become a major concern for companies. It has become a key driver for supply chain management in order to have compliance with legal regulations, social-economic impact, international policies and much more.

Technology

With so many technological developments over the years, customers have become more driven towards technological oriented aspects such as online shopping, online payment, online shipping, online access to information, online status of product, online virtual chatting and so on. This has forced companies to update their processes with changing technology. It has not only helped companies in effectively meeting the customers demand but also resulted in increased revenue.

You can take the services of Group50, a renowned supply chain consulting company. Firstly, they will understand how well your supply chain is doing through their Supply Chain Effectiveness Assessment or their Distribution Assessment. From there, their subject matter experts 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.

You can find out more about their Supply Chain Optimization program by talking to an expert at Group50.  

How supply chain consulting firm can benefit your business?

Business owners are always looking for different ways to ensure the smooth running of their operation work. One of the best methods of improving efficiency is to ensure the availability of your products with demand. Many companies approach supply chain consulting company that can help them in reducing the cost and maximize the profit.

Keep up with the demand may sound very simple work but it is actually very complex when your sales unexpectedly rise. If this problem runs for a long time then it can lead to a negative effect on both the present and future of the business. Mostly owners are good at products but they don’t have expertise in managing their operations. In this scenario, hiring a supply chain consulting firm can work as a bridge to fill the gaps and ensure that company is operating at peak efficiency.

Reasons for hiring the supply chain management consulting company 

Here, we are listing a few reasons to show how consulting services can help in resolving your supply chain issues:-

1.      Baseline 

The supply chain consulting firm plays well in improvement initiatives and efforts for resolving the key issues related to large quantities of accurate past, current, and future projection data. The supply chain management consults digs out all information and presents it in a usable data. Moreover, they can accomplish the work in less time as compared to the internal team.

2.      Problem-solving

It is difficult for internal resources to identify and solve complex supply chain problems alone. A supply chain management consulting company experts will examine your supply chain to find the accurate problem and provide effective solutions. 

3.      Suggest the solution 

After identifying the problem, you may have different possible solutions for it. A management consulting firm will evaluate all the solutions and make an objective recommendation to provide the most cost-effective option.  

4.      Support in implementation

In most cases, management consulting will help you by providing recommendations for supply chain implementation and solutions for specific issues. In this way, you can get assistance from consultants through implementation, especially for complex projects.

Apart from it, there are other common reasons to hire supply chain management company like:-

• To act as an alternative for permanent internal resources
• To provide internal learning
• To share new ideas, best practice and methodologies into supply chain organization

Benefits of hiring supply chain management consulting

Many leading companies use supply chain management consulting services due to its various advantages such as:-

·         Objective: - The professional consultant offers an independent and fresh point of view which is free from any internal influences like politics and culture

·         Focus: - Company managers are responsible for managing the entire spectrum of the company for different roles. Management consultants are focused and have one obligation to resolve their client problems. 

·         These external experts are responsible to maintain their focus on the issues and resolve them.

·         Extensive experience: - The Company may have experienced a given issue once. Supply chain management consultants are experienced in dealing with the same issue many times in different organizations. It means they are equipped with more tools to experience and know-how to navigate the issues and their potential solutions.

·         Skills:- Apart from their expertise in the supply chain, they are also skilled in managing the projects to be executed successfully. These skills are change management, communication, project management, and leadership.

Group 50- to get Supply Chain Management Solutions

If you are also looking for Supply Chain Consulting Company to grow your business then you can approach the Group50 experts. It is one of the leading consulting companies which have extensive experience in managing supply chains of all sizes and use the same methodologies for assessing effectiveness.

The company has founded in 2004 and provides consulting practices in three areas including business strategy, talent strategy, and operational execution. They have a team of subject matter experts in manufacturing, distribution, and supply chain. The company provides its services to a wide range of industries and clients.

Supply Chain Consulting to Bring Insights for Achieving Continued Success

The current business environment and its economic situation that the businesses are dealing with, it have become imperative for businesses to become cost-effective. No matter how big or small the organization is, having an efficient and properly managed supply chain is vital for achieving continued success. As we all know that the supply chain is a complex mix of activities that is focused on cost effectively delivering products or services to the customers.

If a company’s supply chain isn’t working well and everything goes awry, the company tends to lose a huge amount of money and resources in many areas. Even if a company is running its supply chain successfully still proper and continued management is required for achieving stability in this ever changing market environment. 

In order to have complete understanding of your processes and how efficient and effective they are, it is a wise decision for business owners to reach out to the supply chain management consultants. 

Group50, a leading supply chain consulting company has managed supply chain of all sizes ($20M to $4B).  They use competent methodologies for accessing the effectiveness of their client’s supply chain. Their consultants understand that 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 this with lower cost year in and year out. Supply chain optimization can be achieved by focusing on the various key elements such as upstream, downstream, cash flow, inventory, information, logistics, distribution and value. Optimization occurs when all these above mentioned elements are driving increased profits, minimal working capital and shorter lead times.

In what ways supply chain consulting proves beneficial for your organization?

Supply chain consultants ensure that your organization’s supply chain is constantly analyzed and the best tools and resources are applied to make it run in the most efficient manner. They help integrate new ideas and practices. They bring an outside perspective to every core aspect of your supply chain such as from manufacturing to production plant, logistics to shipping centers and cash flow to resource management and so on.

Through a detailed analysis and observations noted, they may carry out and implement some significant changes to make the supply chain more efficient and cost-effective. From retooling the manufacturing plant or suggesting involving third party providers in some areas such as packaging or shipping, these supply chain consultants can suggest many changes. These consultants understand that supply chain is the backbone of any company how big or small scale. If it is not operating well, it will generate huge loss over time even in times and situations when it could easily thrive and deliver optimum outcomes. Simply put, supply chain consulting can bring significant insights to make your supply chain run at the highest efficiency.

You can take the services of Group50, a renowned supply chain consulting firm.Firstly, they will understand how well your supply chain is doing through their Supply Chain Effectiveness Assessment or their Distribution Assessment. From there, their subject matter experts 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.

You can find out more about their Supply Chain Optimization program by talking to an expert at Group50.  

  

      

Maximize the benefits by hiring trusted supply chain consulting services

The supply chain includes a complex mixture of activities that completely focused on delivering cost-effective products and services. There are a number of people associated with the supply chain management process from manufacturing to its distribution. But, in this high competition where the marketplace is highly volatile and powered by digitally empowered consumers, it is important that your supply chain should efficiently work to maintain customer satisfaction and adapt the changing volumes for its efficient operation. You should have the ability to act quickly when fluctuation created in customer demand and supply network without impacting the services.

 By using the right system and strategies, your organization can efficiently work in managing every order from any source at any time. You should hire trusted supplychain consulting company to reap the best from your supply chain management and make it less complex by working on the following strategies.

• You should be clean with the key issues and goals of the business. Once you identify the challenges of your supply chain, match them with your business goals to identify where you are lacking and what you should include in your selection process.
• Next, you need to organize the selection process and set criteria. You can consider the supply chain consulting firm to work on your business needs and recommend how to work in critical areas that help to improve your supply chain.
• Call for a cross-functional team. Try to involve those members who are beyond the IT department for evaluating solutions and partners. It includes internal experts from customer service, distribution, logistics, and executive management.
• When you hire any consulting partner review their customer portfolio to know which industries they serve? Will they understand your business needs? All these things help in saving your time and money.
• Evaluate the vision of a Supply Chain Consulting Firm. Do they provide your long-term strategic plan? You should hire the one who keeps updated with the latest trend in the market.
• You should know how your partner will bring the best from your previous technology investment. They should help you in creating a smooth business process for your enterprise with systems.
• The solution should be properly aligned with your business. The modification will cost you very expensive therefore you should choose a partner that can offer you a suitable solution as per your business process. 

Group50- to get professional supply chain management consulting services

At Group50, they have a team of expert supply chain consultants who have managed supply chains for all sizes of business and using the same methodologies for accessing effective results. Companies required effectiveness in designing products, acquiring materials and resources, defining services, purchasing, and delivering products and services to the customers. All this should be done at low cost and at the end of year supply chain optimization should be achieved by focusing on these elements:-

• Upstream
• Downstream
• Cash flow
• Distribution
• Value
• Logistics
• Inventory 
• Information

Optimization will finally occur when all the above-listed elements are driving increased profit, minimize working capital and short lead times. Group50 experts will intertwine all the elements and plan to create an optimized supply chain driven by:-

• Strategic Objectives
• Business Life Cycle
• Market Value Drivers
• Vendor Participation and Commitments
• Key Performance Indicators
• Total Cost of Ownership
• Quality
• Strategic Sourcing
• Distribution Cost and Effectiveness

By considering all these indicators, they have implemented different projects. Some are listed below:-

• Supply chain modeling
• Purchasing
• Sales, inventory and operational planning
• Technology optimization
• Changes in technology
• Product rationalization
• Cost reduction programs
• Logistics optimization and more

When it comes to supply chain optimization, it is important to understand the existing strategic and operating gaps in your company, your vendors, and your customers. Group50 supply chain experts have expertise in this domain and provide strategic sourcing services to optimize the supply chain of different industries. By leveraging their experience and knowledge they integrate the best designing and implementation for your organization roadmap.