SUPPLY CHAIN IMS: WHY IT MATTERS AND WHAT TO EXPECT IN 2019
One of the many trends to keep an eye open for in 2019 is an increase and universal adoption of advanced Inventory Management Systems for supply chain management optimization efforts. These systems go beyond tracking incoming and outgoing inventory, providing turnover rates, monitoring trends for surplus and even predicting consumer behaviors. These factors go a long way for businesses, especially with shifts within an unpredictable market.
Big league industry players such as Wal-Mart and Nordstrom are strong examples of how advanced IMSs are automating supply chain management and ultimately reducing costs typically invested in a traditional business model. These companies integrate advanced IMSs to manage inventory at the vendor level. This system not only reduces the need for additional employees but holds the vendor accountable for inventory tracking from start to finish.
IMS Logistics Solutions identifies key factors impacting modern supply chain management success:
-Incomplete, inaccurate, and untimely data from providers
-Miscommunication and lack of collaboration between transportation & logistics providers
-Visibility issues throughout the import/export process
Industry players should have already started considering integration of such advanced systems into their business model, as more competitors are expected to double-up efforts with IMS-led initiatives. To stay strong in the game, companies must keep up with automation trends. From predictive consumer interactions to increased efficiencies, businesses are equipped to create new records while reducing risks overall. It’s a multidimensional solution.
Source: IMS Logistics Solutions