In pursuit of increased supply chain efficiency, organizations making the switch to EDI services find increases in operational and supply chain efficiency. However, most look at the current gains and do not realize how much additional potential exists when you have an EDI system to increase sales and drive growth. Here are two questions that every company that is part of a supply chain should ask themselves.
How well did you analyze and anticipate market trends and forecast potential sales volume?
A key to maintaining growth is accurate forecasting of product demand. Imagine you supply a component essential to modern smartphones. When you see an increase in demand for smartphones, you should already prepare for a potential increase in orders. Do not wait for your customers to place orders or indicate a possible increase in demand. When you cannot supply inventory, you lose potential sales and future orders. You can then use EDI to predict the lead time for your upstream suppliers to manage the increase in demand.
Did you have any contingency plans in place to combat transport or any other unforeseen issues?
Another key to maintaining growth is to have contingency plans in place for common issues unrelated to your product. You can make all the components you need, but what happens when there is no shipping capacity. The forecasting above will help you prepare contingency plans.
EDI provides agility for organizations in a fast-paced world. According to experts, their solutions will handle all communications with your supply chain. Every order and all tracking between your storefronts and your supply chain continue without any intervention. Leaving you and your organization to focus on driving your business forward.