In our recent interview with IMHX, MD Ian Maughan talks all things Supply Chain Network, including new product launches, sustainability and key market trends to watch out for. Visit us on Stand UK12 from 6th to 8th September at the NEC, Birmingham...
Current real-world issues around the cost of living crisis will test businesses again as people tighten their belts and business operating costs come into sharp focus. Businesses that have acted to re-align and sure up after the pandemic will be better placed to ride out the latest storm.
One thing has become an apparent reality over the last two years more so than ever, supply chain is a rapidly changing environment which offers a challenging but rewarding career path for talented individuals as well as opportunities for businesses that adopt a ‘can do’ attitude with real agility and flexibility to thrive.
What new products or services are you launching in 2022? With the labour market and resource availability being front and centre to delivering
fulfilment demand we have spent 2 years re-developing out resource efficiency suite. Our SMART product suite is an agile methodology to deliver efficient work measurement and resource optimisation to ensure warehousing and fulfilment operations are as efficient as possible and that resources are used optimally. Based on 50 years of work measurement, coupled together with advance resource planning and operational management tools deployment of our SMART approach will deliver real efficiency to our clients.
Our second development is around simulation. We have advanced our operational simulation capabilities which we will be demonstrating on our stand. Simulation is an excellent way of ensuring correct investment decisions are reached at a time of pressure to evolve in a challenging market.
As a consulting business we work with our clients on developing future solutions that are both sustainable and environmentally responsible, whether this be in material sourcing or through efficient utilisation of resources we are always aligned to our client and wider sustainability aims.
2022 is a key year for supply chain managers to begin wisely advocating for supply chain resilience. Companies focussed on implementing this may be seen to be investing more time and money into prioritising resilience and agility into their supply chain.
To enable business to be flexible and adapt to changeable inventory management plans, digital transformation will play a key role, and will allow organisations to respond to unprecedented market changes and short-term supply chain disruptions. Additionally, this will simultaneously allow many companies to build a more sustainable and robust supply chain for long term profitability. This improved capability for managing demand forecasting and planning will play a crucial role universally for supply chain strategies, in terms of ensuring stock availability and being aware of upcoming demand so they can order accurate quantities and run their businesses cost efficiently. Sophisticated demand forecasting can be achieved by introducing software and artificial intelligence to allow for planning around seasonality, trending new items, or those nearing the end of their product life cycle.
eCommerce and online retail boomed during the pandemic, and in the aftermath of Covid, the demand is not showing any signs of slowing down. These business, when successful are more than simply a website and online presence. They rely on resilient and efficient supply chains, and so businesses’ supply chain teams have wisely invested in tools that boost their ability to increase stock availability and meet their customers’ growing demands for accurate and speedy delivery. Furthermore diversification, for example to expand delivery and supply to different regions to other parts of the world, allows companies to mitigate any risks that are region-specific. In both cases, the aim is to strengthen their supply chain and have options to help address any future supply issues.