Supply chain management
Supply chain in a nutshell, is the management of the flow of goods, information and services. It powers our modern daily lives by keeping us informed, fed and up to date on all essential information. So how does it work? In short it is very similar to a relay race, each athlete striving to keep the chain moving swiftly and efficiently. In this article we will look in detail at a supply chain example and review methods of managing supply chains that could be beneficial to your company.
Starting at the very beginning, in ancient times the silk road was one of the best-known supply chains. Coveted silkworms in China produced silk which was prized around the world. During the industrial revolution supply chains became more complex and advanced. This paved the way for companies to start mass producing products to fulfil the needs of a growing population.
Movement of raw materials and products is essential to the modern-day supply chain. The world moves faster every day, just like those relay racers speed is essential. Technology continues make advances in how we are managing our supply chain. Markets are ever changing and ever demanding, but one thing remains certain, time can be a supply chain’s greatest enemy. Effective use of time for a product or service journey can be the business model that leads to success. 1Time Tracking aims to manage the timeline of projects and the time worked by employees. With secure client access, vendors that are involved with the timeline of a section of the supply chain, can stay up to date of the daily intricacies involved.
When examining supply chains, it is important to take note of the different areas. Movement of raw materials, goods and services can have vastly different solutions. In our global economy the supply chain of a single product can cross many international borders, involve multiple companies and a wide variety of legal documents. One such example of an effective supply chain is the clothing company Zara. Zara is a Spanish company which has retail stores around the world. Fashion is a fast-moving industry, what is trendy today is old fashioned tomorrow, so a fast-moving product-based supply chain is essential. Zara took the challenge and made into an advantage for their company. It has made efforts to save energy and manage waste effectively. When Zara’s goods are being transported all the vehicles use biofuel which is in keeping with their environmental policy
While saving the planet, Zara has taken on the task of saving the animals with their supply chain. As a company Zara does not use any products unless there is no animal involvement. If it is unavoidable, the animal must have been treated ethically. Commitment from companies like Zara and governments around the world to sustainably and ethically source raw materials and good along the supply chain can have untold benefits. These benefits are not just for the consumer but can be good for the companies too.
Ethical and sustainable supply chains are effective ways to model a business. However, time is the most valuable commodity that we as people, staff and companies have. Looking back at Zara as an example, new items are designed and released to their stores in 4-6 weeks. This is an amazing turnaround of a product and show cases the importance of time management for the supply chain.
1Time Tracking has solutions which can be implemented across the length of the supply chain. Current and project costs can be tracked and reported internally and externally. The logistics of managing staff working hours can be fulfilled by the staff themselves. Email reminders are sent to employees so that important time logging happens consistently. If you would like to see how 1Time can help your company, we have a 30day free trial available https://1timetracking.com/pricing/