With the increase in growth of businesses, it is exceedingly challenging to manage orders. Here are a few tips to efficiently run your supply chain without being overwhelmed:
1. Accurate Demand Sensing and Shaping
The first thing you get sorted in order to establish successful order Fulfilment is to have a good Demand management system. An advanced demand management aids in improving a business’ ability to manage demand volatility, improve demand-planning processes, and realize higher forecast accuracy. What matters here are demand sensing and demand shaping. With customers using various purchase channels, sometimes it becomes difficult to capture purchase data. So, there are applications such as demand signal repositories that allow companies to capture real time multi-channel demand signals and analyze, through “slice and dice” capabilities, the demand information to reveal patterns. This is combined with demand history to provide insights for a more accurate demand forecast. Other technological aids like trade promotions optimization work together with demand sensing. These tools create incentives to stimulate demand or optimize product promotions to maximize growth and profitability.
These advanced demand management capabilities can give accurate ideas on demands on a dynamic basis.
2. Global Order Promising
GOP enables organizations to make quick delivery promises that customers can rely on. It allows organizations to address customer related issues from basic “available to promise” to “capable to promise” to “profitable to promise.” GOP aligns real-time data-driven processes with manufacturers, suppliers and logistics constraints so that organizations can have more responsive, reliable, and profitable promising processes that improve customer service levels and increases fill rates. Similarly, retailers can use GOP to balance planning and execution when those cycles are out of synch. Retailers with GOP now have complete visibility into the supply chain and can take customer orders taking into consideration the total order fulfilment cost.
3. Global Distributed Order Orchestration and Fulfilment
The Distributed Order Orchestration system enables organizations to apply enterprise-wide rules and processes, and identify and rectify problems before they become an issue for customers. Business managers have complete control over order management processes and because of this, they are able to monitor order progress, review issues, resolve problems, and modify fulfilment processes as the business evolves. They can see real margins during promising, fulfilment, and particularly expediting activities and this improves their decision making.
These 3 factors can help an organization revamp their order fulfilment systems and have a firm grip on end to end logistics. The systems and tools drive profitability and make sure that costs are optimised wherever there is scope for cost optimization.