We all know that improving supply chain management practices is vitall for companies that want to maintain sufficient revenues. If you haven't read the first part of our series, you can find it by clicking this link. Without further ado, here are the remaining strategies that can help you significantly improve your supply chain management practices.
Know Your History: The Evolution of Supply Chain Management Part II
5. Understand Changing Regulations
Many governmental organizations and other bodies that regulate the operation of transportation vehicles in the United States have changed their rules over the past few years. For example, The National Freight Advisory Committee, a subset of the U.S. Department of Transportation, recently published a list of recommendations that urge transportation companies and drivers to go beyond the minimum required safety compliance through improved use of technology and risk management.
Environmental Sustainability: Green Supply Chain Management
6. Improve Monitoring Techniques
Now that the Internet of Things is becoming more popular, companies are able to track the health of their equipment and the location of their shipments much more effectively. Better monitoring means fewer mistakes, which will improve your supply chain efficiency and maximize revenue.
The Strategic Importance of Supply Chain Management
7. Make An Effort To Attract Top Talent
The better your people, the better your supply chain will be. Do your best to offer reasonable compensation packages that are in line with or above industry standards so that you can keep top-tier talent at your company, which will help improve the quality of your supply chain.
