5 Tips for Managing an Efficient Global Supply Chain

I’m always on the hunt for relevant info and I loved this - one of the best articles I’ve seen on this topic for a while. Here are a few paragraphs as a taster...

Does your business buy from suppliers in an international supply chain? In the face of competition and economic pressures, global supply chains are under more and more pressure to deliver their products at a greater value, on-time and at a lower cost. But if one link in the supply chain is broken, (for example, a delayed payment or late shipment), the consequences to your small business can be problematic.

Don’t Rely on Just One Supplier

When it comes to effective supply chain and inventory management, redundancy is everything. Have a back-up supplier (one is good—you don’t want to manage too many suppliers). Not only will they prove invaluable in the event of production or logistical issues, they can also give you some competitive leverage and help ensure you maintain the best cost base across your suppliers.

Build Goodwill

Building good relationships with your suppliers can lead to mutual benefits such as better terms at the negotiation table and improved production and delivery schedules. Try to treat your suppliers as partners, and look for ways that encourage them to view you in the same light. You can do this by paying them on time, cutting some slack on one-off mistakes and being flexible.

Pretty valuable stuff, I’m sure you’ll agree! Why not check out the whole article HERE and share your thoughts with me afterwards: call (0469) 310-2971 or email me at [email protected].

Thanks,

Michael