Product managers, purchasing managers and VP’s are concerned with keeping their costs contained and reducing friction points, thus, proficient and well-planned logistics and supply chain management procedures will always be key. Whether outsourced to a 3rd party logistics provider (3PL) or done in-house, companies can increase cash flow and reduce costs with custom-designed logistics capabilities. Are you looking to better understand why you need to be making this a priority in your organization or considering looking for ways to improve your current operation? We have constructed an overview of logistics & supply chain management concepts to help you gain more perspective on this important topic.
A supply chain refers to organizations within a system that contribute to moving a product from its supplier to a customer. These organizations can include people, certain activities, resources and information. Supply chain management is the management of the flow of goods and services throughout the supply chain.
Managing the supply chain involves planning, design, execution, quality control, and monitoring of everything involved. This includes the movement and storage of original materials. An integrated approach to supply chain management seeks to effectively deploy the areas of information technology, industrial engineering, system engineering, procurement, marketing, operations management, and logistics in a cohesive manner.
Supply chain management solutions are intended to address the following:
Organizations looking to remain focused on their core competencies often seek the expertise of supply chain management companies like NewStream Enterprises, LLC. This allows them to remain flexible while minimizing ownership of raw materials sources and channels of distribution. The importance of supply chain management for most companies ultimately comes down to cost containment. More cost-effective solutions result from dedicated supply chain management companies that can perform these functions more proficiently and do not get distracted with conflicting priorities as is often the case when insourced.
While supply chain management refers to a sequence of processes involved in the production and distribution of a product, logistics is a general concept that can be applied to many different areas such as business, military and transportation. Logistics can be thought of as the way in which complex operations are organized and executed. Logistics management is the part of supply chain management that plans, implements, and controls the flow and storage of goods and related information between the point of origin to the point of consumption.
Organizations looking to be more competitive in the marketplace gain the following benefits from effective supply chains:
A successful supply chain management plan will address the following:
Outsourcing your supply chain management needs can be risky. While a successful supply chain management solution can greatly improve your company’s operations, making the right choice is crucial. When looking for a partner, look for a supply chain management partner that demonstrates exceptional knowledge and thought leadership in the field—one who first seeks to educate and add value, and invests time in establishing your trust. Companies to target are those who have proven experience in the implementation and optimization of supply chain management solutions across various industries. Relevant experience not only ensures that a similar system can be adapted for your needs, but also demonstrates practical experience for you to present to the decision makers within your organization. It’s also important to examine the company’s culture. Company culture, while often-neglected when choosing partners, is actually an important consideration. The workplace culture will not only affect communication but also the reliability of the service you receive, and your bottom-line. Positive culture breeds enjoyable interactions and improved quality because empowered employees outperform unhappy ones.
NewStream Enterprises can manage all or any segment of your supply chain process, including kitting and packaging, assembly and sub-assembly, or warehousing and distribution services. Our services are customized to fit your specific requirements, from materials management to direct order fulfillment. No stranger to a variety of industries, NewStream Enterprises will become a seamless extension of your business.
Our unique business model provides clients with superior cost control, enhanced throughput and service levels, and greater utilization of assets. As an employee-owned company with a focus on improved work culture, our people strive to improve upon efficiencies every day. Because of this, we can significantly reduce liabilities in labor, overhead, and inventory while improving quality and customer responsiveness.
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