As your business grow manifold and supply chain become more complex, it becomes challenging for you to keep a track of inventory, analyse the profits & losses, determine consumer retention and much more. Moreover, with the growth of fake products, adulteration and tampering you are continuously under the threat of facing huge monetary losses. Amidst this scenario, it becomes highly important to have a supply chain management software in place. Besides this there are many other reasons to use supply chain management software for your business. Let’s discuss them one by one.
1. Prevents fake products and tampering
One of the biggest reasons for having a supply chain software in place is to prevent the counterfeiting of your products. Digital product authentication through smart labels or holograms helps in determining the genuineness of your product. Moreover, you can also track and trace your product in the supply chain with the same.
2. Improves inventory management system
Supply chain management helps in improving inventory management system and eliminates waste items by allocating the right storage space. The system helps you to rightly assess your customer requirements and develops strong relations with other stakeholders of the supply chain.
3. Helps in achieving production outputs
Supply chain management software helps you to develop better communication with your logistics, vendors and retailers. This major benefit helps you to determine the amount of raw materials, money and time involved in achieving the required production output.
4. Increases customer retention and repeat sales
With the help of supply chain management software, you can easily implement loyalty or reward schemes for your consumers. A smart hologram or label with QR code enables your customer to redeem loyalty points by the scanning the same. This motivates your consumer for repeat purchases and thus increases your sales.