Lessons to learn from Boris Wolfman about how supply chain can change the fortunes of a business

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Business

Only when businesses can deliver the right quality of goods. To customers at the right time and the right price can expect success. A glaring example is a Turkish company Royal Innovative that has diverse business interests across the globe. Has been going from strength to strength over the years under guidance of Boris Wolfman, an entrepreneur par excellence. The company has established its reputation of serving global customers with varied products ranging from mineral water to canola. Oil and from fruit to coal and also manganese to iron products at very competitive rates by maintaining them unfailingly.  The unmatched efficiency of the business backed by the properly structured management processes. Together with the use of technology to speed up processes and a strong network of distributed storage systems, have helped to maintain high level of efficiency. 

Supply Chain System

The success of the company owes a lot to its robust supply chain system that contributes. Immensely in moving bulk products smoothly across multi-modal transport systems. It is only due to efficient supply chain management. That the company is able to meet buyer deadlines consistently and at the same time, costs as low as possible. This allows the company to pass on the cost benefits to the stakeholders throughout the cycle of shipment. In order to maintain deadlines and keep costs low. The company has warehouses across the continents and tie-up with third parties for logistical support. To ensure that the quality of products remains unaffected during the distribution process. This enables the delivery of the right quality products through the various stages of movements of buyers.

Boris Wolfman – The secret of success

It is very clear from the above that efficient supply chain management is key to business success. Only when the supply chain works smoothly and efficiently that businesses can hope for better performance, higher revenue earning, growth. Statistics is available from studies conducted by Deloitte way back in 2014. It had clearly established that almost 80% of companies with high performing supply chains enjoy higher revenue growth than average.  The figure is only 8% for companies that have less capable supply chain management.

Supply chain management

Warehousing and logistics techniques are the pillars of the supply chain, and it requires proper orchestration of organizational capabilities, strategic actions. Technologies to get the right results.  There must be perfect coordination between the various elements of logistics, including transport and also warehouse duly supported by automation. Once the systems are in place, and the business gains momentum, there is always scope for innovation, and you must. Find ways of streamlining the logistics planning processes that help to improve output.

However In this article, we will discuss some steps that you must take for better management of logistics.

Proper planning

The better you plan, the better will be the outcome – this is the principle behind efficient logistics. And also planning is the starting point for supply chain management just as it for accomplishing any task. Supply chain management covers wide range activities that begin with the procurement of goods followed by organizing storage. Facilities to ensure retention of the quality of goods and then moving.

Facilities to ensure retention

It with the help of the right type of transport to deliver it to customers at their desired location. Within these activities are the associated factors of time, transportation, and also cost that contribute to the process efficiencies. Supply chain management consists of devising the flow chart of the entire operation, and proper planning helps to ensure process. Smooth delivery while enabling higher profits.  There must also be a contingency plan to take care of any setbacks and also avoid logistics failure due to circumstances. 

Embrace technology

Organizations must adopt technology that increases efficiency of the business processes, and it is no exception for supply chain management. Technology helps in process automation that plays a vital role in business process optimization. Using advanced software and applications for the various processes related to logistics helps. To strengthen the operations and achieve better efficiency that delights customers and improves revenue. Organizations that use enterprise software can integrate supply chain processes. With it to gain an advantage through better monitoring and control of the movement of goods in various stages delivery.

supply chain processes

It includes monitoring of goods movement during procurement, moving goods out to warehouses, and lastly, delivering. The goods at the destination. The use of technology not only speeds up the processes but also eliminates human errors and helps meeting deadlines effectively. The overall process management is much more efficient due to the flawless tracking of goods movement.

Warehouse management

Warehousing plays a critical role in supply chain management because it retains the quality of the goods in transit. It is important to have the right kind of warehouse according to the type of goods so that the quality of goods remains intact during storage.  This is very important to ensure that customers get the value for the goods. For example, having refrigerated storage for some perishable goods like dairy products or having a de-humidified or moisture-free storage facility for grains is essential to retain the quality of the goods.  Ensuring cost efficiency during storage is also very important, and it depends on the proper utilization of the storage space to maximize its use.  In addition, there must be proper sequencing of goods movement and ways for easy retrieval of items with technological assistance.

Efficient transportation

Transportation of goods for timely delivery depends on choosing the right kind of transport to ensure safe and timely delivery at a low cost.  There is enough scope of controlling costs during transportation without compromising efficiency. Planning the shortest routes for safe delivery helps to save costs. In other words, Paying attention to packing ensures the safety of goods in transit and provides opportunities for saving costs by rationalizing the packaging. 

Planning Is Important

It helps to design packages that occupy minimal space without increasing the weight while keeping the goods safe, and it leads to better utilization of the transport, thereby lowering cost. Thinking out of the box and also adopting advanced technology for better control over the various aspects of supply chain other word management can contribute immensely to better business returns.

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