How to Optimise Your Supply Chain for Increased Profitability

The more globalised the world becomes, the more access businesses are getting to overseas markets. Boarders are opening up, trade agreements are being signed, and companies who are willing to put in the hard yards now have the ability to expand their business like never before.

However, with higher utilisation of overseas markets comes longer and more complicated supply chains. And, the more complex the supply chain, the higher its cost.

The fact of the matter is that your supply chain plays a large role in the profitability and efficiency of your shipping endeavours. Every single stop along the way delays your product that little bit more, and the longer it takes for your product to get from A to B, the bigger the bill at the end of it all.

For importers and exporters, streamlining your supply chain should be a task held in paramount importance. It can make a substantial difference to your business - saving you precious time and money.

But, how can you do it? How can you transform your supply chain and make it more efficient?

Here are some tips from our global logistics experts that can help you enhance your supply chain.

Analyse and Optimise Your Logistics Processes

The first step that we would recommend in order to streamline your supply chain is to analyse its current standing.

How many points of contact are there from your products’ starting point to it’s destination? How long does it take on average to go from A to B? Are there any unnecessary points of contact? Can any areas be shortened or quickened?

By conducting an in depth investigation into your logistics, you can arm yourself with all of the facts you need in order to begin optimising it.

Utilise and Improve Data Systems

When it comes to data systems, every business has different tools and software that they use. However, what they all have in common is that they have the power to optimise your supply chain - if done correctly.

Improving the accuracy and usage of your data systems can significantly help you to speed up your logistics. Removing the instance of errors helps to keep everyone on the same page - which is especially important when importing or exporting overseas.

Additionally, utilising effective software platforms can help you to reduce time spent on data entry.

And, if you’re using cloud software, you can ensure that your counterparts all around the globe have access to your data in real time. No more scrambling to keep each other informed, just unification of knowledge and goals across the board.

Explore New Systems and Leverage the Old Ones

In this digital age, we now have access to a vast array of software and systems to improve business processes.

To optimise your supply chain for peak efficiency, it’s wise to spend some time exploring potential new technologies or software platforms you could implement. Technological innovations can assist you in a number of ways, including:

  • Unifying your team and supply chain on the same systems
  • Increasing communication
  • Reducing confusion and data errors
  • Speeding up slow, outdated processes

That being said, it is also vital to leverage the systems you already have. While the systems themselves may be old, the data they collect can still contribute valuable information towards planning and analysis.

Commit to Continuous Improvement

To have a dynamic and profitable supply chain, it must constantly be assessed and adjusted. Leaving it stagnant for months - or in some cases years - allows it to become out of date, or to slip into inefficiency.

Making the commitment to continuously improving your logistics ensures that your supply chain is as cost-effective and quick as it can be - at all times.

Placing a large focus on the productivity of your supply chain is a must for all importers and exporters. Not only will it help you to reduce delays in your good’s travel time, it also has the potential to save you a substantial sum of money.

At WTA, we understand that your supply chain is a vital yet highly complex part of your business. It can be difficult to know where to start, or how best to streamline it.

As international logistics specialists, we offer a fully comprehensive supply chain management service. If you’d like to learn more about it and how it can help your business, you can do so here.  


Discover More About Our Supply Chain Management Service

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