When providing a product or service for a market, there are a variety of aspects that must be monitored and tracked. Supply chain management software allows you to monitor orders, shipments, and the storage of raw materials. It can also allow you to measure the success of your vendor partnerships, ensuring that you get the most of your business’ expenses. Here are a few must-have features of your retail supply chain management software.
Monitoring and Planning
The supply chain management software you use should have monitoring and planning capabilities. This will allow you to oversee the movement of materials as they travel through the supply chain and make any necessary adjustments to your plan. Some of the monitoring aspects the software should provide include shipment dates and times, identification and order numbers, and freight data. This information will allow your business to make better strategic decisions as you’ll have accurate and up-to-date information. The planning part of the software will allow you to create and update your material plans as needed. You should be able to set up alerts so that you’re aware when materials may soon be out of stock or if there is an excess of a product. These alerts will allow you to solve potential customer issues before they arise.
Order Processing and Inventory Management
When a customer orders a product, they want that product delivered quickly and correctly. This is what influences satisfied customers to return and refer others to your business. Supply chain management software allows you to quickly deliver orders to customers by organizing the acceptance, storage, and movement of your inventory. RFID tags and barcodes are commonly used to make it easier to keep track of your inventory and ensure that the correct products are being sent to the proper destinations.
Warehouse Management
A warehouse is a key component of any retailer, as this is where you keep your materials and products. A supply chain management software system should help you control numerous aspects of your warehouse operations. This includes labor, materials, floor space, and operational protocols. By helping you use your warehouse space more efficiently you’ll be able to get products delivered more quickly and limit the amount of space needed. In the long run, this could end up saving you big.
Transportation Management
The transportation of supplies can be a difficult process for a retailer, as the materials are out of your hands. Keeping track of where those materials are and when they are scheduled to arrive will allow you to serve your customers better. You’ll be able to provide up-to-date information on when a product may be available. A supply chain management software system will allow you to track shipments of supplies, manage your documentation, automate freight payment, and plan your loads easily. If a problem occurs, you will be able to effectively make any changes to your planning during the early stages so that you have time to adjust and get back on track.
Implementing the right retail supply chain management software into your business strategy will provide a variety of benefits. When choosing one of these systems, there are certain aspects you should look for to ensure that you can gain the most from the program. These are some of the features that you should ensure are accessible before purchasing the software. Call on CBX Software to receive the best supply chain management software available.
