5 Essential Features of a SCM Software
One of the most important aspects of any company’s success is not only how well it performs in its field, but also how good its supply chain management is. You need a supply chain management software that has powerful features to deal with complicated supply chains. It should be capable of handling the complexities in your business. You want a top SCM software that can help you to predict demand and easily adapt to changes in your industry. So, this article will look at five key features that you should be looking for when it comes to the best supply chain software.
- Access Real Time Information
Having access to real time information enables companies to make better decisions that are based on data and patterns. This helps in maintaining visibility and transparency as well, which in turn keeps customers happy.
You can also identify the loopholes in the supply chain with real time data. Apart from that, responding to the changes in the supply chain becomes easier too.
Overall, it can help you manage the supply chain faster, cut down costs and reach faster decisions.
- Inventory Management
To run your business smoothly and keep the supply chain efficient, proper inventory management is quite necessary. You have to store and utilize raw materials or finished products in their optimal condition. SCM software helps you in doing so without any hassle.
Inventory management is also crucial in avoiding any kind of stock holding that results in losses to the business from maturing stocks.
- Order and Billing Management
There is no doubt that the process of ordering, invoicing and paying for a product is one of the most crucial and most difficult parts. Good SCM software should obscure as many details as possible, and provide as much automation of billing and ordering.
It does not conflict with human decision making. This will give you a chance for flexible configuration, allowing convenient and intuitive work. A business can save a lot of their time and effort by automating billing.
- Warehouse Management
An ideal SCM software also offers warehouse management that is necessary for the smooth functioning of any business. It not only creates an impression about you in the eyes of your customers, but also ensures that your customers always have an experience. It can be used to productively manage every aspect of warehouse/stockroom management.
- Logistic and Shipping Status
A supply chain software assists inefficient delivery of goods to the final destination at a minimal cost.
The business process that comes with logistics and supply chain management software involves shared databases, GPS, and server connectivity. This allows the companies to know the current status of shipping.
If you are purchasing any supply chain software, don’t forget to check the availability of this feature. It comes with resources for fuel cost management and you know the consequence of missing it.
The best supply chain management software has all of the features listed above and even more. If you consider all of these features, you can determine what you need from a program, and end up with the one that will be most useful to your company. But no matter which software you choose, make sure to set realistic expectations for what the program will do for your company.