While the sales team may expect consistently high levels of availability in order to satisfy customer demand, the finance team are typically more interested in inventory cost. Consequently, operational teams are under constant pressure to strike the balance between service levels and investment in stock. However, in order to ensure that supply chain decisions are in line with the expectations of the wider business, it is vital that information and insights from across the business are readily available. Yet, despite this, many organisations fail to harness the full potential of internal supply chain collaboration.
Why does supply chain collaboration matter?
So what can you do to demolish the internal silos that exist within your organisation? More importantly, how can you lay the foundations to establish more collaborative internal relationships? While inventory management decisions are typically based on rational supply chain data such as historic demand and confirmed orders, for many businesses, there is a strong argument to encompass further insights from finance, sales and marketing teams.
After all, through attaining a greater understanding of customer demand as well as the financial constraints in place, supply chain teams will be able to make better decisions. As a result, the business will become better positioned to guarantee customer satisfaction while still keeping a tight grip on investment in stock and supply chain costs.
Enhance supply chain collaboration within your organisation
As part of our “building blocks to a better supply chain” series, we explore how you can enhance internal collaboration within your organisation. This simple 6 step guide will demonstrate how you can gain access to valuable insights from across the business, as well as how you can rationalise and validate this information. Ultimately, this guide will help you construct a more collaborative environment in which to make more informed supply chain decisions! Complete the form now to download our latest whitepaper