Supply Chain software is a system that provides all the powerful tools needed to manage a supply chain, such as: data access, reports, and analysis all the important details about how the goods and products your business relies on get from point A to point B, all in one centralized system.
Supply Chain Management software makes it possible for you to easily access data and create meaningful reports conveying how each aspect of your supply chain is performing. Data visualization capabilities is improving in each iteration of this software, giving companies an array of tools for improving efficiency, identifying and solving issues, and planning for future business growth.
The top features in Supply Chain software include:
- Supply Chain Planning
- Demand Planning
- Inventory Management
- Warehouse Management
- Supplier Relationship Management
- Order Fulfillment
- Transportation Management
- Reporting and Analytics
- Predictive Analytics and Forecasting Tools
The benefits of Supply Chain software are:
- Improve Synchronicity in Your Supply Chain
- Reduce Risk and Errors
- Control (and Often Reduce) Costs
- Boost Efficiency and Productivity
- Support Decision-Making
- Improve Customer Service and Supplier Relations
- Maintain Data Security and Integrity
There is some overlap in ERP and Supply Chain Management solutions, but generally ERP systems handle a much larger operational data set that’s set up in modules across all the different levels of the company, of which supply chain management is just one component. So often times, supply chain is part of an ERP system, but it’s not the sole function of an ERP.
Supply Chain Management solutions, on the other hand, are specifically designed to the needs of any company managing a supply chain. There is a lot of variation in supply chain management tools, because some are tailored exclusively to particular industries or functionalities (such as transportation management) but the sole focus of supply chain management solutions is, indeed, supply chain.
Efficient systems and sustainable processes eliminating excess waste at point in a company’s supply chain operations are going to be even more heavily scrutinized by executives in the coming year. This focus on sustainable practices is bound to be a competitive differentiator amongst providers as they use this focus to further reduce costs and wasted energy or resources (while improving their environmental footprint at the same time.)
Supply Chain Management is going social. Social media channels have become a main focus for customer service improvements in many businesses, and for good reason. Social media is the most common place where consumers are going to share the experience they’ve had with a brand. Much of a customer’s experience is shaped by your supply chain, from product quality reviews, delivery speed, and overall customer satisfaction. Supply chain managers are starting to focus more on social media for this reason, and this useful data will likely soon become a main component of product management and executive strategy.
Choosing a supply chain software solution that is perfectly tailored to your business is key to maintaining a thriving supply chain and the process of finding and implementing your perfect system should be driven by business goals, supply chain issues, and growth plans for the future.