Supply chain management is a crucial part of any business. A company can only predict its success with a sound supply strategy. Also, the supply chain helps determine the growth of a business in terms of satisfied customers and financial gains.
Contrary to popular belief, the market is saturated, and you’re always replaceable. Surprisingly, supply chain management has become more complex than ever, and you must remain vigilant.
While mistakes are inevitable, suppliers often make some when trying to emerge with the best supply strategy. Even the slightest mishap can make you lose potential leads and years of reputation.
Whether you’re a fabric or lubricant supplier in Dubai, here’s a rundown of all the mistakes you must avoid. So, keep scrolling!
- Not Setting Quality Expectations
Quality expectations are the most common mishap, leading them to unfavourable circumstances. It might appear unreasonable to address quality control initially of your sourcing project.
But, setting product quality expectations before ordering the goods is of pivotal importance. Doing so saves you from unnecessary hustle if you follow quality guidelines beforehand.
Remember that your goal is to make long-term clients; we bet you would want to keep them.
- Avoiding Data and KPIs
Collecting and utilising relevant and reliable data effectively is critical to supply management. So, paying attention to this data is one of the easiest yet most expensive mistakes.
With reliable data, you can attend to other essential tasks. Part of this data collection is to ensure the key performance indicators (KPIs) that your measures are S.M.A.R.T.
The abbreviation refers to Specific, Measurable, Achievable, Relevant and Timely. So, focus on the data and metrics you need for a successful supply chain.
- Neglecting Business Optimisation
Not optimising business operations related to the supply chain can harm you in the long term. Usually, such issues appear gradually as the company grows and shifts focus.
Due to this, workable supply chain practices can lose their efficiency. One of the best ways to optimize supply chain management is to combine all the teams to work together.
It’ll make it easier to collect data, maximize efficiency, and help with risk management.
- Lack of Management
Another mishap that tends to creep in is that suppliers make their business messier. It may be because of working with multiple partners or credit issues.
Whatever is causing your venture to get messy, it’s high time to get things sorted. If your contact list includes various contractors, vendors and importers, it’ll only complicate the process.
In this regard, look at your associates and see who’ll come in handy in the long run. While having backup support is wise, you must cut off ties with those you no longer need.
- Poor Customer Service
As a supplier, you must be serving multiple buyers at once, but it still doesn’t make a viable justification for poor customer service.
You need to set your standards for customer satisfaction and abide by them in every case. If you’re unable to create cordial relationships with your clients, there’s no way you can serve them permanently.
Suppliers usually don’t attend to product quality and timely delivery for long-term customers. Remember that even the old buddies leave when you avoid being on your best behaviour, let alone the clients.
- There’s No Automation
Automation is no longer a luxury but a necessity of the modern world, particularly the suppliers. Unlike manual operations, automation helps streamline functions, ensure timeliness and track product deliveries.
It also makes it easier to collect valuable data and info needed to plan future optimisations. You may be glad that we’re now introduced to free online software to bring automation to our business. No wonder why everyone is making the most of it, from fuel oil suppliers in Dubai to traders in Singapore.
Choose a tool that suits your requirements and install it immediately to reach your desired profitability.
While you may think of supplying as delivering commodities to the prospects, there’s nothing left to do. However, there’re multiple strings attached to it. A supplier needs to ensure the premium quality of the products, set financial standards, contact the manufacturers and importers, hire promising transportation, and whatnot. This guide will help identify the loopholes and undo the damage to some extent.