Supply chain management

Adapt Customized Best Practices of Supply Chain Management

Supply chain management can be simple or complicated. If there is a relatively short supply chain with only one or two suppliers, then the procurement can be simplified and the whole process may be easily manageable. This is not to say there will be no complications at all. There are always expected and unexpected surprises along the way. A large supply chain, especially when it comes to rare materials can be daunting to deal with. There are many widely known best practices that you must incorporate in your supply chain management. However, you cannot blindly endorse any practice or simply institute a practice without customising it.

Supply chain is a process. It is relevant across industries. The specific industry, the sub type or the nature of the business, the types of materials being sourced or procured, the end product or the material in transition along with various other contextual factors will be crucial to determine whether or not a particular practice is relevant. The best practices are largely generic and they can be relevant for most industries. Yet, the specific modus operandi of how you go about managing your supply chain will demand some changes. It is possible many of these changes will be quite easy and obvious. Likewise, some changes may not be obvious and incorporating them could be difficult.

Supply chain management is a perennial process, regardless of the frequency of procurement. Reliability is the key to a successfully operating supply chain. Quality has to be assured too. Many companies deal with multiple suppliers for the same items and hence toggling between two or among a few can have separate inherent issues. A holistic approach is necessary when you choose certain best practices and customise them to suit your specific needs. You will have to make a few changes to how you operate but make the best practices work for you in an organic manner.