Logistics & Inventory Management: How To Do it With a “No-Contact” Policy

Inventory Management

This is a guest post by Reese McKnight. Reese is a sales veteran and editor over at JookSMS, a messaging platform for teams and customers. Hailing from Royersford, Pennsylvania, she started out as a sales assistant in local advertising. Her favorite pastime is trying out new cuisines and board games.

Widespread business changes, caused by COVID-19, have affected global trade and supply chains significantly.

Hundreds and thousands of businesses around the world are having to navigate newly implemented no-contact policies for the safety of both themselves and their clients.

What does this mean for logistics & inventory management?

This question, and more, will be answered in this Process Street as we go through the following topics:

Ready?
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What is Value Chain Analysis? How to Deliver Value & Gain a Competitive Advantage

value chain analysis

How do you stand out against overwhelming competition? You need an edge; a value proposition isn’t enough on its own.

You need to make sure you’re out-competing the competition by keeping costs down and understanding the value you’re delivering to your customer. But how do you continuously improve your value offering while keeping costs down?

Enter the value chain.

A value chain is a model of looking at all of your business processes and figuring out how to gain a competitive advantage by focusing on developing maximum value in your product or service, while keeping your profit margins in the green at the same time.

Originally proposed by Harvard’s Michael Porter in his 1998 book Competitive Advantage, there’s a lot of ground to cover. Where do you start? What’s the process? What kind of tools exist to make the value chain analysis easier?

Well, if you’re looking for a clear, concise introduction to Michael Porter’s Value Chain model, you’ve come to the right place. Read on for a breakdown of:

By the end of this article, you should have a firm grasp on the value chain model, with a better idea of how to apply it to your own business. We’ll also investigate how to integrate BPM software like Process Street into the value chain.
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Vendor Management: What It Is and How to Excel at It (Free Templates)

Vendor Management

Learning about vendor management is no easy task.

As soon as you search the words ‘vendor management’ in Google, you’re bombarded with details regarding vendor management systems, rather than information regarding vendor management itself.

And considering that 88% of companies use at least one outside vendor, and 47% more than 10 vendors, vendor management is a topic that, at some point in their careers, many employees will need to understand.

That’s why in this informative, easy-to-understand post, I’ll tell you everything you need to know about vendor management – and in layman’s terms.

Specifically, you’ll learn exactly what vendor management is, the benefits of it, and the process of managing vendors successfully. To finish off, I’ll even provide you with (free!) vendor management templates you can jump into and use straight away. Just read through the sections below:

Now, it’s time to get a solid grasp on vendor management.

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How to Support €38.8 Billion Revenue: Tips from IKEA’s Supply Chain

ikea supply chain

You can’t earn €38.8 billion in annual revenue by stumbling through your processes.

Specifically, the IKEA supply chain is the glue that holds the company together and allows them to flourish.

From their suppliers through to the product in-store, the supply chain is set up and managed in a way that reduces costs at every stage, makes the products more appealing to customers, and makes the brand as a whole seem more appealing.

It’s genius, really.

So let me show you how they do it.

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8 Logistics Management Processes to Perfect Your Supply Chain

logistics management - header

No matter what kind of business you’re in, if you have a supply chain then it’s vital that you have a system of logistics management processes to guide how that chain runs.

Without set, trackable methods for ordering and managing stock, fulfilling customer orders, inspecting your facilities and so on, you’re leaving the success of your business (and the level of waste) up to random human error.

One participant described a customer who used air freight for items that went into long-term inventory. Another recounted how individuals ordered 100 units of a product which they had not even used 30 units of in the previous year. Uncoordinated buying led to different groups in the same facility paying different prices for the same goods and ordering uneconomically small quantities.” – MIT Center for Transportation and LogisticsA Sickly Supply Chain

To stop this kind of inefficiency and needless waste, we here at Process Street have created these 8 free logistics management templates.

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