While there seems to be light at the end of the tunnel in terms of COVID-19, many organizations are still facing troubles and disruptions along their supply chains. While the manufacturing industry has been seeing positive signs of growth, there are still a few key areas that need some extra attention to ensure businesses keep up with the demands of their customers. Below we highlight the current state of the manufacturing industry and discuss some things that will help create more sustainable and efficient processes.
Massive fiscal stimulus packages and increases in vaccination rates have helped increase the demand for manufactured goods, but this demand has been met with barriers to production in the manufacturing industry. With order volumes surging, many organizations are struggling with raw materials and transportation needs.
Not long ago, it was on a rapid growth pace, but now, manufacturing has slowed, held backby problems preventing it from matching consumer demand. Much of these problems come from an inability to source certain materials and parts from suppliers due to the ongoing impact of the pandemic. What can manufacturers do to create a supply chain that is more reliable, efficient, and bottleneck free? The answer lies in embracing digital tools that will make collaboration easier.
To stay ahead of the curve and ward off barriers to production, manufacturers need to create stronger, more valuable ties with their suppliers and buyers. While a lack of material goods might not be something you can easily fix, communication among your partners is something that can always be improved. And the benefits are clear. ..
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On tone hand, you and your suppliers benefit when both parties are aware of expectations and have access to real-time information regarding materials, shipping, and payment. In turn, this helps alleviate some of the irritation that your customers will have when faced with potential delays. By keeping all involved parties informed and in the loop at the state of orders, you can create a process that is founded on mutual trust and understanding. You’ll not only find more satisfied buyers and suppliers but also will enjoy a supply chain built more deeply around collaboration.
A strong, collaborative, resilient supply chain isn’t built overnight, it takes time, effort, and investment. Luckily, you don’t need to work toward these goals on your own, there are many digital tools and platforms to help you connect more closely with your partners.
The Tradeshift Network offers unprecedented control. Our AI and automation features are easily customizable le to best support the needs of your team—and, with our collection of pre-vetted buyers and suppliers, you can always connect with a partner who will help you achieve your business goals.
As we begin to recover from the impact of the pandemic, organizations would benefit from implementing digital tools and technologies that strengthen their supply chains. Manufacturers need to be able to rely on an efficient, resilient process in order to keep up with the increasing demands of consumers. To learn more about how Tradeshift can help you elevate your supply chain efforts, contact us today and start making shift happen in your organization.