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.

Arrive at the Right Decisions Systematically with Digital Supply Chain Technology

Digital supply chain is built completely on the smart systems that help the organizations save time, money and resources. It is supported by an array of disruptive technologies such as Internet of Things (IoT), Blockchain, Cloud Computing, Artificial Intelligence, Industry 4.9 among others. 

The digital supply chain is complex because of the number of components that make it up.  Companies that are focusing on effective digital supply chain management need an infrastructure, software systems and components that are both scalable and sustainable.   

Digital supply chain technology

Digital supply chain technology is experiencing a high rate of change as new systems are created, updated and integrated. The challenge for supply chain and digital technology professionals is how to choose and implement the right set of technologies for their company’s strategic needs. It is necessary to develop a building block approach that is designed to scale with the company’s growth and be flexible enough to easily accept new systems and technology as they present themselves.  

Elements of a digital supply chain

·         Core business support servicing the company’s basic business needs

·         Production/Services management focused on the key products and services the company offers to its customers

·         Customer focused service systems that are required in today’s marketplace

·         Supply Demand Management providing the marketplace with products and services close to demand

·         Inter-Organizational Collaboration are the systems that collect and access data for decision making, provenance, chain of custody, etc.

It takes significant amounts of time and investment to do a complete implementation and most companies don’t need the entire structure at the outset, but as they grow, more of these components are needed.

Group50, a leading supply chain consulting firm have supply chain and digital technology subject matter experts who focus on leveraging digital supply chain assets at the intersection of people, process and technology. They take a holistic approach to optimizing digital supply chains which includes the integration of systems that are operated by customers, consumers, the company, logistics companies and suppliers as well as the strategic needs of the business.    

Benefits of a digitized supply chain

Creates a connection between multiple data sources

With digital technologies such as IoT and Blockchain becoming so prevalent it has become an essential aspect of modern and successful supply chain. It enables to connect the devices that are used to deliver data across various processes and channels within an organization. Such connected system helps in improving processes and helps in improving the overall product quality.

Makes your organization more agile and future driven

Digitalization in supply chain is cross functional, which helps in predicting the customers demand, planning priorities and then executing the processes to meet the customers’ demand. Also, it enables in achieving the strategic objectives of the company such as new markets, development of new products and acquisitions and much more.

Cost management and cash flow

Digitalization of supply chain leaves a major impact on the cost management and improved cash flow. This is all possible because the faster the supply chain and its operations moves; the less capital gets tied up in the supply chain which further results to better cost management. 

For the digitalization of your supply chain and leveraging all these benefits, consult a renowned supply chain consulting company like Group50.  Their digital technology assessments and workshops help you systematically arrive at the right decisions and implementation roadmaps. They put together the right mix of seasoned IT professionals, business process owners and vendors to understand the current state, develop a roadmap to the future state and support its’ implementation.    

Supply Chain Effectiveness Assessment to Determine the Performance Requirements of Your Supply Chain

Supply chain management

Supply chain management deals with all the activities that are involved starting from sourcing the raw materials till the final product gets manufactured and reaches the end user. An effective management leads organizations to have proper coordination with all the stake holders of the supply chain such as suppliers, third-party service providers and customers etc. With properly managing the supply chain, companies can provide the right value to the customer at the right cost.

Group50, a well-known supply chain consulting firm has managed supply chain of all sizes from $20M to $4B. They understand that the companies needs 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. When all the elements involved in supply chain are optimized, they can result to increased profits, minimal working capital and shorter lead times.

Supply chain is the backbone of organizations and till the time it is running well it isn’t noticed, but when it goes awry, the whole business suffers.  

To have a clear idea about how your company’s supply chain is running, you need to measure its effectiveness from time to time.

Supply chain effectiveness assessment

The effectiveness assessment examines how effective your company’s supply chain is in acquiring materials, moving them through your required value added processes and delivering them to your customers. It looks at the ability of the current systems and organization to deliver required business results. It also provides a gap analysis of the supply chain with a perspective to responsiveness, best practices, scalability and sustainability. 

Both qualitative and quantitative measures can determine the effectiveness of your supply chain. Qualitative measures determine the quality of product and customer satisfaction whereas quantitative measures help determining the factors such as utilization of resources, response time, lead time, delivery time etc.

The most in-depth way to look at the effectiveness of business, manufacturing and distribution processes is through a Value Stream Mapping. VSM provides a clear view of how various business processes are related to each other, assesses the need for those processes and how efficient they really are. During Value Steam Mapping, a model is created which shows how much time, effort and cost is required for a specific process. It is applicable to small functional processes, manufacturing processes such as building a product and complex horizontal processes such as order entry to cash or understanding the interdependencies of a global supply chain.

Objectives of supply chain effectiveness assessment

·         Identify all components of the supply chain from raw material providers to the end user and determine how they align with your company’s strategy

·         Assess the performance requirements of your supply chain to meet your products and services need in the marketplace

·         Determine the gaps between existing processes, organizational structure and skills, systems and those required to deliver the company’s strategic objectives

·         Review the effectiveness of supply chain accountability measures and compensation

·         Complete a gap analysis of your supply chain accountability vs. best in class organizations

·         Deliver a final report that identifies the key opportunities and the expected ROI’s

In order to carry out effectiveness assessment of your supply chain, you can contact a leading supply chain consulting company like Group50. Their supply chain subject matter experts can provide an assessment of what is working and what requires attention within your supply chain. This assessment will also provide a set of short-medium-long term recommendations on where to focus your attention for optimized performance from the perspective of cost and responsiveness.    

   

  

  

Be Effective at Manufacturing Products and Delivering Value to the Customers with Supply Chain Optimization

The supply chain is a complex mix of activities that is focused on cost effectively delivering product or services. Supply chain management deals with all the activities starting from the procurement of the raw material to the manufacturing and delivering of the finished products to the end users. Supply chain management strategies are redefining the ways for organizations on how they should manage their supply chains. It enables the businesses to cope up with the changing demands and keeping pace with the global markets. It would not be wrong to say that supply chain management is an integral part of the customer satisfaction and the entire company’s success. With this, the main objective is to deliver optimum value to the customers at the least cost and with quality intact. 

Group50, a well-known supplychain consulting firm has managed supply chains of all sizes ranging from $20M to $4B.  They 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. Their consultants help companies to do it with lower cost year in and year out.

Organizations can effectively manage their supply chains by gaining optimization which is   achieved by focusing on various elements. All of these elements can help drive increased profits, minimal working capital and shorter lead times. These key elements include:

Upstream and Downstream

Any sort of raw materials or the finished part of the products that are procured by the company falls under the upstream part of the supply chain. Simply put, anything that comes in the company in the form of materials is termed as upstream. Contrary to this, anything that goes out of the company such as any service or finished product delivered to the customer comes under the downstream part of the supply chain. 

Inventory

Inventory is the representation of the major source of revenue for the company. It includes everything from raw materials to work in progress goods and finished products. Supply chain management involves policies, strategies and systems to keep the inventory control and also the utilization of that inventory to the maximum level.  

Logistics

Logistics is the backbone on which a supply chain operates and it involves everything such as movement, storage, flow of goods and information. In order to have an optimized supply chain, businesses need to understand the importance of effectively organized logistics. It is extremely vital for meeting the market demands and having a competitive edge over the competitors.  

Cash-flow

All the decisions; major or simple regarding the supply chain can affect the cash flow. Cash flow in an effective manner is crucial for companies of all sizes and to keep them in business. With having an optimized supply chain, companies can prevent some failures to an extent. Optimization can also alleviate these cash crisis to maintain stability within a company.

Value

Value in the supply chain basically refers to the delivery of the finished goods to the end users. The products should be worth the customer’s money and must offer them great value while maintaining cost effectiveness. The end users are seen as the source of generating value thereby striking a balance between what the consumers want and what the company manufactures. The product or service offered by a company must be considered as value by the customers.

Distribution

Effective and efficient distribution system is vital for supply chain management. Distribution system comprises of a chain of intermediaries through which a product or service passes until it reaches the end user. Wholesalers, retailers and distributors and even internet are part of this distribution channel.

Group50’s supply chain management consultants 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.

Talk to an expert at Group50 to find out more about their supply chain optimization program.

Blockchain Technology comes up as a Game Changer for supply chain industry

Have you ever thought about where all products come from in the supermarket? Or the clothes you are wearing and mobile phones that become an essential need in our life? Think about where all raw materials came from, how it transported to the production plant, how it created and got packed and ended up delivering in the shop for buying. All these things are directly connected with the chain called the supply chain.   

What is Supply Chain Management?

Supply Chain Management is defined as integrated planning and execution of different processes within the supply chain. For example, if we talk about the supply chain management of clothing industry then it is connected to:-

• Raw material sources
• Factories use these raw materials for creating final products

• Distribution network from where consumers get these clothes

In short, supply chain management includes all the activities from the flow of goods, services, and information related to storage and movement of raw materials, creating products and full-fledged finished goods from one point to another.

Why we need supply chain management?

If the supply chain is properly implemented then it will provide various benefits in terms of increasing sales, reduce overhead costs, improve quality, reduce cost and complex manufacturing process, etc. But, unfortunately, the supply chain becomes very convoluted and inefficient.

Supply Chain challenges and Blockchain solutions 

A supply chain is currently troubling with various challenges in managing record-keeping, tracking products; lack of transparency, etc. that impact its efficiency. The introduction of blockchain in supply chain management can improve its performance by providing a secure and transparent way of tracking all transactions across the supply chain. The introduction of blockchain can improve the various tasks of the supply chain.

• Record the quantity and transfer of assets efficiently such as containers, pallets, etc. that move from one point to another in the supply chain nodes.
• Tracking of a purchase order, change orders, trade-related documentation, shipment, etc.
• Assign or verify the properties and conditions of physical products. Like determine the food product is an organic or fair trade
• Link physical goods with their serial numbers, digital tags, etc.
• Share information regarding the manufacturing process, delivery, maintenance of products. 

Key Benefits of Blockchain Supply Chain

The blockchain offers various benefits to all the participants of the supply chain by eliminating all key obstacles. Some of the benefits include:-

• Enhance transparency- Blockchain records all the data of product journey across the supply chain that reveals its true origin and touchpoints. This will increase the trust and help in eliminating the bias that is found in supply chain management. Manufacturers can share these logs with OEM’s and regulators to reduce recalls.

• Security: - The blockchain is a distributed shared ledger where all the data can store and eliminates the audit required by internal systems and processes. As the data cannot be edited or deleted once it is inserted so it assures complete security of data.

The other benefits of adopting blockchain in supply chain industry include:-

• Eliminate or minimize the frauds and errors
• Improve inventory management
• Find issues quickly
• Increase customers and partner trust
• Reduce courier costs
• Reduce delay from paperwork

Group50 for Supply chain blockchain consulting

Group50 is one of the trusted names that have extensive experience in providing Blockchain Consulting & Solutions and grabbed huge applause from their clients for their consulting services. They are backed by the team of supply chain blockchain experts that can help your business by optimizing supply chain management with the implementing blockchain technology. If you are looking for Supply chain blockchain consulting services from experts to boost your business then contact Group50 professional today. 

Supply Chain Consulting to Make Your Organization Adjust Dynamically to New Markets and Changing Economies

The supply chain is a complex mix of activities that is focused on cost effectively delivering products and services. Supply chain management is all about the management of processes such as planning, operations, logistics and sourcing. It involves applying different approaches for the effective management of goods starting from the raw material supplier till they reach to the end user as value.   

Group50, a leading Supply Chain Consulting Company has managed supply chains of all sizes from $20M to $4B. They 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 it with lower cost year in and year out with supply chain optimization. Their consultants provide strategic sourcing services and 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.

Global markets are expanding their reach and re-defining the ways how supply chains need to be managed. Effective supply chain management is like critical backbone for the success of organizations. With it, companies become competent in responding quickly to the changes and making most out of the emerging opportunities.

Supply chain management leads your organization towards the road of various new opportunities such as:  

Improved cycle time and increased efficiency

Cycle time refers to the duration of time taken by the business in completing an entire process. Through supply chain management, the most effective ways of carrying out the various operations are revealed which further improves the cycle time. When organizations become competent at integrating supply chain and logistics, they are in a great position to not only predict the demand but also respond accordingly. It is one of the greatest advantages of optimized supply chains that companies can adjust dynamically to the new markets, shorter product life cycles and changing economies.

Decreases costs and improved financial flow

Supply chain management helps the organizations to identify the most cost-effective supplier and distributor channels and in predicting the customers demand. This significantly lowers the amount of inventory on hand and saves a lot on costs. Moreover, with supply chain management, organizations can evaluate their processes, address all the cash flow challenges, identify and eliminate all the weaknesses which hampers financial flow.

Improved customer service

By investing in supply chain management, organizations can easily manage the logistics. They can track their shipments, materials and products. With improved supply chain technology, it has become easier to deliver the products to the customers.

For reaping all these benefits, consult Group50 to carry out an effective Supply Chain Optimization program for your business. The first step they will take is to understand how well your supply chain is doing through their Supply Chain Effectiveness Assessment. From there, the Supply Chain Consultants 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 and reduced lead times year over year.