Tag: Fulfilment

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10 August
Inventory Management Explained

Inventory is a vital piece of your business structure. Inventory management in itself is the art and science of stock keeping to track the level of products in containment, thereby ensuring products and materials in storage are not too low or dangerously high.
There are stages of inventory which are listed as follows;

  • Finished goods (that are available to be sold)
  • Work-in-progress (meaning in the process of being made)
  • Raw materials (to be used to produce more finished goods)

In today’s world, the gears of business are changing rapidly, with an ever growing population, there is an increase in demand and a market to be exploited. To support an ever growing market, manufacturers must sustain the rate of production and pace of supply; there are major factors that come into play in the overall sustenance of a business architecture and Inventory Management plays a critical role. The keeping of inventory is a strong determinant in the growth of an organization, when products are tracked and recorded, organizations can be up to date on the state of products, the demand and popularity of a certain product and well informed before decisions on logistics can be made.

As it is, we are now familiar with the term “Inventory” and its importance in the day to day operation of an organization, the terms and concepts of it all could seem overwhelming but Loft is here to take you through it all, serving as your personal co-pilot and wingman.
We guarantee the organization and security of your biggest asset, the “inventory” through meticulous planning ahead of operations, state of the art modern storage facilities and the employment of a dedicated personnel, capable of the movement and eventual storage of product before distribution. Inventory management is a fundamental part of running a business, to avoid unprecedented damages and fluctuations in the flow of business operations, entrust the management of your inventory to professionals, entrust it to Loft!

25 July
Maintaining a Flexible Supply Chain

A modern day supply chain must be well oiled and agile to rise to the daily demands of a fast growing business, being rigid with your logistics operation creates bottlenecks in the movement of goods and products from you to the consumer.
The capacity to swing into action within a moment’s notice, and meet the supply demands of consumers round the clock, is quite often the driving factor behind the success or failure of an enterprise. For this reason amidst many more, a flexible supply chain network must be prioritized.

Here are some thought starters on how to improve flexibility and facilitate the free flow of the supply chain.

Container Logistics:  The maintenance of mediums of storage like the container must be placed at high priority, with extensive care on the part of personnel in dealing with these modes of storage during transport. Secondly, digital records of containers must be kept, in line with maintaining organization and avoiding errors and mix-ups, this entails an organization or Enterprise would have a larger presence in a largely digital world.

Supply Chain Transparency: Streamline connectivity and increase transparency with customers, suppliers and trading partners across your supply chain by digitizing and automating B2B transactions on a digital business network. In other words, this means scaling up into the digital space and taking advantage of the ease and speed the internet gives you, from improved B2B transactions to simpler public relations. This all matters because business has become increasingly international – often global – in recent years, thanks to the reduction in traditional barriers to the cross-border movement of products, services, capital, people and information

Sourcing: Selecting suppliers who will provide the goods, raw materials, or services that create the product is a critical component of the supply chain. Not only does this include creating the contracts that govern the suppliers, but also managing and monitoring existing relationships. As part of strategic sourcing, supply chain managers must oversee the processes for ordering, receiving, managing inventory and authorizing invoice payments for suppliers.

Expansion and Growth: With the growth in technology and logistics over the last few years, the global economy has allowed businesses to grow and expand their businesses outside of their countries. With a strong supply chain solution in place, businesses have the opportunity to go global. Leading the forefront of a web of  storage spaces would be a sophisticated database which contains details of container movements, order fulfillment, and inventory records. This ensures all assets are accounted for, leaving no margin for error and reducing inevitable and unavoidable personnel errors.

Customer Service: As is the case with all fields of business, customer relations is a vital part of operational proceedings. Maintaining a stable line of communication with customers whilst generating regular feedback ensures that consumer needs are understood and well met. A good relationship between the consumer and supplier guarantees a lasting partnership. A streamlined supply chain solution can help businesses not only focus on expanding their current product line but also provide add on services to customers.

14 June
Managing Disruptions In Your Supply Chain

Your supply chain is the veins and arteries of your business; responsible for the basic survival of a business through the steady “back and forth” distribution and inflow of goods and products. From the organisation of personnel to the management of transportation methods and routes of supply, your supply chain guarantees both business continuity and growth.
Now, what happens when this vital lifeline in a business is damaged? This results in the worst-case scenario for any business owner: A total shutdown of day-to-day transactions and operations which cripples the organisation almost instantly. These disruptions lead to a loss of revenue and multiple delays in schedule, slowing down the business calendar and ultimately losing customers.

What are these occurrences that could adversely affect your supply chain?

These disruptions are largely man-made but on occasion, they can be caused by nature. Man-made disruptions in the supply chain are vast and range from unstable economic climates to delays in payments and problems caused by ill-equipped or incompetent personnel, handling storage, maintenance and logistics.
Naturally occurring phenomena such as rainstorms could in part lead to flooding thereby limiting transportation and movement of products. This single event quite literally paralyses a business when measures are not put in place to check them. In the bid to build a successful and stable business, the state of the supply chain is paramount, this means these disruptions cannot afford to be tolerated or condoned. Strategies must be set in place to get ahead of scenarios that threaten the supply chain, the lifeline of a business. Navigating through these problems requires a degree of foresight and a level of sturdiness. In formulating policies, businesses must go the extra mile in enforcing these policies among the workforce or staff, this puts a lid on the probability of disruptions caused by personnel.

To wade through these disruptions,  a certain level of threat assessment and business acumen is needed. Analysing threats and setting up policies to neutralise these threats would require expertise and experience. Most organisations attempt to tackle this on their own, but in the long run, this takes a negative toll, in conclusion, it is advisable to outsource supply chain threat evaluation to a partner like Loft to expose potential disruptions in your supply chain and ultimately neutralise these threats. 

Ways Of Managing Disruptions In The Supply Chain
  1. Setting in place a series of backup modes of delivery to counter the problems posed by transportation: As we all know, no matter how watertight plan A is there is always a discrepancy, an outlier that results in a need to resort to an alternative. Furthermore, alternative routes should be sought and modes of delivery and transportation should be broadened and expanded
  2. A rigorous process of vetting during recruitment of personnel: One of the major causes of disruptions in the supply chain is due to faults on the part of personnel, to counter this, it is advisable to thoroughly screen individuals before recruitment thereby reducing the chance and probability of errors in things such as order fulfilment, delivery mistakes and slow movement of goods.
  3. Acquiring insurance: This is a safe way to minimise loss in the event of natural disasters, when this happens you are able to recoup a certain level of what has been lost. 
  4. Reexamine supplier locations and viability: Geographical positioning plays a vital role in the effectiveness of your supply chain. A shorter distance between warehouse, supplier, wholesaler and retailer makes a huge difference in maximising profit and limiting loss.
Get ahead of disruptions with Loft

Loft is specifically designed to take all your supply chain worries away, supercharging your business operations and allowing you to scale faster. With Loft, you are always ahead of every challenge in your supply chain and can focus your capacity on delighting your customers with better products & services. We make warehousing and last mile fulfilment services an enabling experience for businesses, allowing them to meet demand and scale their business without the constraints of traditional warehousing and logistics.
With Loft, businesses become agile in managing the disruptions in the market, beating their competition and expanding capacity(when needed) for a fraction of the cost required.