Supply chain management software
Key features of supply chain management software
Supply chain management software is a business tool that helps you manage your supply chain with greater efficiency. Most software systems have rich features that can streamline your supply chain operations from start to finish.
Types of supply chain management tools
Many different types of supply chain management software exist. Some come as a standalone application or program; others are a part of broader solutions, such as customer relationship and enterprise resource planning systems.
The most common features of supply chain management software include:
- Inventory management - for tracking and managing the availability of raw materials, stocked goods or spare parts. This feature can also help with asset management, barcode integration and future inventory and price forecasting.
- Order management - for automating purchase order processes. For example, generating and tracking purchase orders, scheduling of supplier deliveries, and creating pricing and product configurations.
- Logistics and shipping status - for coordinating transportation channels, improving delivery performance and boosting customer satisfaction. Warehouse management features can help with storage optimisation, labelling, labour management and more.
- Forecasting - for anticipating customer demand and planning procurement and production processes accordingly. Efficient forecasting can help remove the need to buy unnecessary raw materials or store excess finished goods on warehouse shelves, hence reducing costs.
- Return management - for inspection and handling of damaged or faulty goods, and processing of refunds or insurance claims.
Many supply chain systems also include extra options or modules that can support other processes, such as contract management, product life cycle management and more.
Why is supply chain management software important?
With the right solution in place, you can maximise your business' cost-efficiency, productivity and give your bottom line a boost. Read more the benefits of supply chain management software.
It is important to remember that different businesses will have different needs and different reasons for using supply chain software.