One integral part of business is maintaining the supply chain While technological advances have improved market access, the enhancements have made managing the supply chain more complex. .. Let’s explore how the internet and expansion of marketing channels have impacted the modern supply chain.
THREE Opportunities with The Modern Supply Chain
1. Cyber security. One of the major issues plaguing the modern supply chain is cyber security. The Internet has brought plenty of benefits, including ease of selling and marketing, but it has also brought the rise of cyberattacks. Ensuring all of the new systems are properly secured is important to avoid falling prey to cybercriminals.
2. Multiple marketing channels. The expansion of marketing and selling channels has increased market access substantially. You can sell on Facebook, Instagram, your website, and even on Amazon and other e-commerce platforms. , With the expansion of access points virtually or physically, it can be difficult to keep up your supply chain. Therefore keeping inventory up-to-date, have a smooth shipping system, and an informed customer service system are critical to a well-oiled supply chain and the health of your business
3. Inventory Management. Finally, more about inventory. Inventory management was difficult even before the expansion of marketing and selling channels. The best solutions to this problem is a proactive approach to periodically evaluate inventory, consider outsourcing to a fulfillment center, and have product minimums.
Keeping a smooth-running supply chain is a challenge for any business, but it has been especially difficult with the rise of digitization and the advances in technology. Today, with heavy digital influence and multiple marketing channels, it can be difficult to have and maintain a functional supply chain.