There are a lot of ways that businesses can find new efficiencies and savings, but one of the biggest areas where improvements can often be made is logistics. Here’s a look at some logistics tips that can help small business owners find success.
Prioritize Visibility and Collaboration
Visibility can make or break a supply chain. If you can’t communicate to your customers and suppliers accurately and quickly, your business doesn’t stand a chance. You might think that you can’t function without your forklifts and automated systems for storage and retrieval, but the same can be said of your supply chain and warehouse management systems, so be sure to invest in getting the best options for your needs.
Don’t Forget to Negotiate
When you go to the grocery store, you pay the price on the shelf without questioning it, but it doesn’t work this way in purchasing. Supply chain leaders are often too busy to spend the time needed for negotiating or asking multiple carriers for quotes, but doing so is well worth the effort. Make a point of getting at least three quotes for all of your expenditures; you’ll get much more attractive quotes when companies know that you’re shopping around.
Invest in Success
Third-party logistics companies might not be cheap, but they can help you find cost savings that make them a far more attractive proposition financially in the long run. The right third-party logistics company make sure you get the best rates and fastest delivery possible while getting more productivity out of your warehouse team – and this will be reflected in your bottom line. They can also help you with that all-important visibility and collaboration we mentioned earlier.
Whether your business is going well or this year has been a struggle, keeping these tips in mind will position your business to achieve even greater things in the new year!
This blog post was based off of an article by Startup Nation. Read the full article here.