Implement Lean manufacturing Just in time delivery system and invest in software technology so that you can easily track inventory level. Always have a minimum order quantity.

When supply chain costs start rising, businesses need to act fast. Along with cutting waste and negotiating better deals, a few smart strategies can help. Managing inventory wisely is key—too much stock ties up cash, while too little leads to lost sales. A balanced approach, like demand forecasting, can help. Relying on just one supplier may seem convenient, but it increases risk. Working with multiple suppliers creates better pricing opportunities and reduces disruptions. Logistics also play a big role—optimizing routes and storage can cut transportation costs without hurting efficiency. Lastly, building strong relationships with suppliers can lead to cost-saving collaborations.

Rising supply chain costs can drain profits fast. The fix? ERP integrated with MRP to bring visibility and control. Instead of last-minute purchases at high prices, automated demand planning ensures bulk buying at optimal rates. Real-time tracking finds cost-effective suppliers and prevents excess inventory. Route optimization cuts shipping costs, while automated workflows reduce manual errors and delays. By analyzing spending patterns, you make smarter decisions - keeping costs down, deliveries on time and your supply chain running like clockwork.

Create Partnerships with key suppliers and look for ways to create WIN-WIN solutions. One time we were able to collaborate with suppliers on a maintenance of specific materials. We did not have the expertise of identifying the need for repair. We collaborated with the supplier and handed responsibility over the reliability of the said material. The result was SAR 5 Million in savings.

When supply chain costs are increasing uncontrollably, it is crucial to take immediate action. However, this response must be customized for each industry and situation to effectively regain control. I believe we should develop new vendors by supporting and promoting young, capable entrepreneurs, as we have done successfully in the past.