Our interconnected world has meshed us with everything through complex webs of partnerships and collaborative efforts. Some pose too much resistance making it impossible to untangle. For this, we should maintain quality relationships for a convoluted business like logistics.
Here are five actionable tips that assure success in your supply chain partnerships:
Demand transparency but offer the same
Transparency is the quintessential thing supply chain professionals should focus on and must take precedence over anything. Gain end-to-end visibility and transparency with your partners and set the tone for success right from the start.
Clearly outline the parameters and expectations of and from the partnership, highlighting ways to resolve issues in real-time. Make sure they know when and how to contact the company and who will be their primary contact. Get the same detailed information from them. Challenges are inevitable in any partnership process, but only transparency can effectively mitigate them as soon as they occur.
Problems? Cut them at roots
Despite our best efforts, supply chain issues arise, such as shipping delays and technical issues. The hard part of the equation isn’t the fact that these things will happen but how you deal with them.
At times, you need to react instantaneously and make critical decisions with very few resources available at hand. So, if you can plan for the most likely contingencies and have protocols to fix them whenever they happen, you’ll be far better off than if you were purely reactionary.
Technology, your best friend
No distance is too far, and there is nothing that you can’t keep a watch on from the comfort of your home these days. Companies know exactly where their cargo is and when it will arrive at its destination for its customers and partners. It facilitates building and maintaining good relationships besides opening the door to new cost-saving opportunities.
Ideally, this also helps limit the amount of time you have to spend on manual tasks.
Shippers and carriers on the TruKKer platform share a single source of truth throughout their interactions at all touchpoints. Our proprietary innovation helps us enable our clients to make actionable decisions in real-time. If anything unlikely surfaces, solutions prescribed are more action-biased and way more informed. Collectively, this brings down costs and propels operational excellence.
Only numbers speak
One of the main reasons people “fall off the wagon” when it comes to New Year’s resolutions or goals is a lack of perceived progress.
It’s always important to have a way to measure the success, progress, and effectiveness of your supply chain strategy in all areas of your business. You should measure:
Cost
Quality
Schedule (late delivery, early delivery, etc.)
See what matters most to your business success. Find out ways to measure them over the long term. Also, keep an eye out for any changes in your KPIs caused by the new operational strategy.
Move on to new supply chain relationships
Many businesses live with unfavorable supply chain relationships for years. Several reasons work for this, but nothing works you out then leaving a sure thing for something that might be better.
If you’ve done everything possible but only to hit the wall, then it’s time you looked elsewhere. Instead of burning bridges, consult other entities that can effectively help you reach your business goals. At times when facing razor-thin margins, which is common for all, there is no risking it all on sub-par alliances.