Without a doubt, when looking to technology, one can see it has changed the way we do business. Even thinking back 20 years, you can see that businesses have changed, for the better. While true, many entrepreneurs don’t take advantage of this or understand why technology is so crucial to helping one achieve higher profits and find more clients. With this in mind, it’s wise to consider technology’s role in supply chains, and here are five things to think about with regards to this important subject.
More efficient shipping
When looking to ship a product from the factory or a warehouse a company will want to save the most time and money. Think about it, when sending a product, a large corporation, or even a small one, will want to use technology to get the item off the shelf, into the box or onto the shipping pallet and on the truck. With technology, a company can do so with ease. Integrating business process management solutions and workflow software can increase efficiency significantly, and reduce the chance of anything falling through the cracks.
When looking to do well with your clients and keep them happy, you need to communicate with them all the time. This was not easy in the past as you would have to send emails manually or call them on the phone. But, times have changed, and they have changed rapidly. Now, with technology, you can send automated updates via text or email. Business mailing lists can help you keep in touch with consumers, and help you better understand their needs. Then, your clients can receive the information they require. This improves the relations with customers as you won’t disappoint them or leave them hanging. Furthermore, you can save a lot of cash with automated emails and texting as you won’t have to hire as many employees.
in the past, you would have to manually weigh a package and enter the information in for shipping your items. Then, you would need to contact your client to provide the information and ask for payment. While that was one way to do it, you can have an easier time with this if you use checkweighers. With a machine, you will have an easy time weighting your product, boxed or not boxed. In the long run, you will save a lot of cash if you don’t have to pay an employee to take the box off the production line and into the area to weigh it.
If you have an inventory issue, you are going to lose a lot of money and alienate current clients. While true, it hasn’t always been easy to keep track of your stuff. Yes, if you had full-time employees, you could pay them to manually count everything and enter the information into the computer. But, this was time-consuming, and humans often commit serious errors. Luckily, with the right software and hardware solution, you will have an easy time keeping track of all your items, all in real time.
Finally, if you want to upsell to your buyers, you can make some serious cash, all with a minimal effort. But, with technology, you can do this even more efficiently than in the past as you can have your website or computer system automatically recommend items. Simply put, if you sell an item requiring batteries, you can automatically recommend to your buyers a pack of batteries. Of course, you can think bigger, and you can even consider a related item such as a warranty. Since there will be not more communication with this method, at least on your end; this is an easy way to bring in more revenue with no effort. For this reason, large and established corporations like Amazon have been doing this for a long time as it’s so easy to bring in more revenue, all while providing something that the buyers probably want and need.
If you are going to run a company and want to enjoy higher profits with less effort, you should use technology, and you should use it wisely. If not, you will face an uphill battle as you will have plenty of competitors that use technology to bring in clients. Luckily, if you learn a little about the subject, you can reap the profits later. | Images via shutterstock