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Digital Magazine

Supply chain management: Asset for a product based business

Present era is completely digitized and in this digital fast moving world supply chain is acting as the best possible way of communication for all those businesses which are related to production, distribution, consumption, etc. do you know when you order a commodity online or just parcel it from one destination another, the commodity goes through multiple hands to reach the right destination. And to reach the right destination at the right time, supply chain acts as the strongest pillar for the logistics sector.

Hence, most of the product oriented companies widely depends on supply chain management to operate efficiently and successfully and also it is one of the biggest part of a product based company consuming approx. 40-60% of revenue generated.

Asset or a loss:

As mentioned above, supply chain management of a company consumes approx. 40-60% of generate revenue then you might be taking it as a loss factor but if you calculate it correctly and conduct a survey over the product market then find top product based companies have the best logistics team and also are one of the major reason for their success.

Supply chain if managed proper then it is the biggest asset of a product based company  but if you failed to keep a keen eye over it then it may turn into the biggest reasons for your company failure.

How to manage your logistic section and supply chain?

If you are a product based company and willing to take maximum profit out of it then you need to step a foot back and think what can turn your team as an asset for your company. If you have already indulged a team for logistics then first you must run a thorough check, either you have appointment best team or not, if yes then how to take best and most productive work out of them.

Assigning right task to right person depending upon their capabilities is very crucial. Undoubtedly you have appointed the best team but always remember that every folk have their own quality which makes them stand out among the rest. So you need to understand those qualities before assigning work to them. These few points can definitely assist you to avail best benefits from your business and make it successful than ever before.