As a business owner, you’ve got to make the right call in every situation. Of course, this is next to impossible to do, even when you’ve got over 10 years experience and the best advice around you, because the market can be unpredictable. But it’s definitely something to work towards, most crucially when you’ve got a product of your own to brand and sell.
One of the main areas in which you need to be sure you’re doing the right thing is your supply chain. This is both the lead up to and aftermath of your commerce, and it ensures your customers get what they want from you, and that you get what you need from them.
To do that, you’re going to need to learn some management skills surrounding this chain specifically.
It all starts with you! (Pexels Image – CC0 Licence)
Managed By a Team
You should have a governing body of people on your side, in order to deal with your supply chain properly. Because a team of supply leaders means you have much more control over your chain. It means you have more plenty of ideas to work off of, and it certainly cuts your own responsibility in half, which is good for any business leader!
Good Supplier Relationships
Whoever you’re using to supply your chain with in the first place needs to be someone you call yourself close to, in business terms. You need to have a strong and positive working relationship with them, as this helps to create a sense of give and take between you. And when a company and its supplier is on a healthy line, the whole wheel moves much more quickly.
Indeed, even in the healthcare business, ordering convatec ostomy supplies doesn’t come without a side of networking on a regular basis. Because when you keep in touch and communicate directly, creating the feeling of loyalty between you, you might just find you’re left with slashed prices and a prioritisation amongst the supplier’s customer base.
Neat and Tidy
Your supply chain should be organised, and it should make sense, above all else. It should be as local as you can keep it, and should be constantly reviewed (on at least a quarterly basis) to ensure you’re doing whatever you can to keep the chain strong and turning over.
Because a supply chain that is neat and tidy moves fast. It has an inventory with no wasted space, and it values productivity at all levels. It allows for recognition of talent, both in the corporate office and on the factory floor, and it makes sure you’re never running low on stock when demand is getting higher and higher. All in all, a company that has something there for customers to buy finds a lot more success than a company that tries to trend on exclusivity.
If you’re a business owner, you need your supply chain to be as strong as you are. It’s a reflection of your company, so make it good!