Supply chain transformation starts by examining these three key areas

For manufacturing and distribution businesses, the COVID-19 pandemic has put a spotlight on the critical importance of two operations areas: the supply chain and your people. These issues can feel like areas with limited upside potential, but innovative approaches can enhance business value, output, and reputation as you take steps towards unlocking your full potential.

For the last year and a half, disruption to supply has created unpredictability and delays. With rising costs and sub-par service, organizations are starting to ask if there are better ways to manage the supply chain. We’ve identified three key solutions for transforming your supply chain so your organization can be more effective.

Procurement process assessments

Are your procurement and order management processes optimized in your business? For organizations with business models that are heavily dependent on procurement, distribution, and management of inventory, it is vital to ensure that your processes, practices, and systems are continually fine-tuned to ensure your organization is globally competitive. Consistently examining and adjusting your processes enables you to overcome the onslaught of disruption brought about by the ever changing supply chain landscape.

Inventory modelling and gross margin return on investment

In the dynamic landscape of customer preferences, you need tools to analyze customer trends, inventory turns, profitability metrics, and a predictive model to inform buying decisions in real time. Understanding what your customers need and when they’ll need it can help you get ahead of broader supply chain trends while also maximizing the profitability of your business.

To get access to this powerful information, you can adopt technology that works with various enterprise resource planning systems. You’ll be able to make strategic decisions with data instead of relying on past trends that could be out of date.

Technology enablement

Supply chains are constantly evolving and staying ahead requires your organizational leadership to focus on strategic direction instead of spending time working on time-consuming paperwork. Modern tech tools can deliver exceptional reporting to managers and key executives, improving your ability to negotiate effectively, work with vendors, and mitigate risks.

Supply chain transformations

Do you already know what you need to change in your supply chain, but you’re struggling to turn vision into reality? Supply chain transformation teams can help you uncover new approaches and fresh ideas that will help you achieve your goals.

Transformation can be a heavy lift. From identifying solutions, to training staff on different processes, through to implementation and change management, it’s a lot to take on alone. With help from MNP, you get a turn key solution that helps you bridge the gap between the old solution and your new future.

Identifying barriers and building solutions to overcome them requires deep expertise and strategic thinking. Advisors from MNP bring the experience you need to create plans and execute change successfully.

Contact

To learn more, contact:

Ryan Magee, CPA, CA
Partner, Assurance & Accounting
416.613.3120
[email protected]

Hussam Malek, P.Eng, PMP, M.Eng, MBA
Partner, Consulting
416.515.3866
[email protected]