What Features A Supply Chain Management Software Should Have?

Supply Chain Management Software

We can’t deny the fact that the supply chain business is expanding day by day. According to the reports, 38% of the U.S jobs are because of the supply chain. Therefore to fill the gap between the management and customers, supply chain industries are relying on automated solutions. 

Yes! You guessed it right we are talking about supply chain management software. This is considered as the best way to effectively manage raw materials, controlling product cycles, and suspect the discrepancies in the process. Not only this, but supply chain management software is also a sleek way towards decision making. The enterprise software development companies, executives, and leaders can understand how the business process is going and what their employees are delivering. 

Once you are able to catch the working areas and process, you can take a step forward to success and can also generate better revenue/sales. Undoubtedly, a better working process can lead you towards productivity, efficiency, and vast profit margins. However, to get a complete suite it is vital to have a robust supply chain management software

To proceed forward, let’s understand what is supply chain management software? 

So, supply chain management software is an automated solution to control your supply chain business without losing productivity and efficiency. Users can exhaust the transactions, manage relationships between suppliers and customers along with controlling business workflow to enhance agility. In short, you can empower the competitive workflow that includes planning logistics in your supply chain business operations. 

Basically, there are various types of supply chain management software available in the market. You can choose as your company’s requirement, yet we have mentioned them below for your convenience. 

  • Inventory Management 
  • Order And Billing Management 
  • Logistics And Transportation Tools 
  • Return Management
  • Forecasting
  • Warehouse Management
  • Supplier Collaboration

These are some types of supply chain management tools, however, you can get these tools as a feature in your software. Rest, we will move forward with the understanding! It’s time to acknowledge the characteristics of this software! 

Must-have Features Of A Supply Chain Management Software! 

Real-time And Collaboration Functionalities

Real-time information is indeed important to avoid unwanted surprises such as missing goods, bottlenecks in the workflow, or unsatisfied customers. You can not rely on anything other than real-time information as it will help you to respond quickly to the occurring changes in the process. 

This feature will also help stakeholders to coordinate on a project and they can ensure everyone is on the same page. Additionally, the real-time collaboration also helps to break the communication gap between the stakeholders and ongoing workflow.

You can get a customized solution and can contact an IT professional services to get what you are looking for, they can help you with everything from the scratch. 

Inventory Management Functionality

To streamline the stock level and inventories in your supply chain management, this feature can be a proven boon to your organization. Placing new orders, goods, and products is now simplified than ever before.  Additionally, users can also take benefits from asset management, future inventory, and price forecasting along with replenishment lead time. 

As you know inventory management manages the process of manufacturing goods by supplying them to the warehouse and then shifting it to the POS (Point Of Sales). Users can understand the new entry, sale, return, and record of every product from the warehouses.

Warehouse Management Functionality 

The warehouse also signifies its importance in supply chain management. Warehouse Management Functionality is vital to function that optimizes the control of the stock in order to understand how well the process is going and increase efficiency and productivity. 

A supply chain management software can help companies to manage orders from multiple locations to ensure a cost-effective process and timely delivery. Just like inventory, the warehouse feature is also considered an integral part of your supply chain management software as it could prevent complications. It has been seen that many businesses are also implementing cloud computing consulting services to get more insight. 

User-friendly And Intuitive Interface

Every feature is incomplete without a user-friendly and smart dashboard or interfaces in your supply chain management software. However, there are so many factors that depend on the chain system and patterns that your team may be not able to adapt to the new technologies and changes. 

But when you are using the right dashboard, your team can accept the technological changes and also gain acceptance towards the automation process. There are so many internal features you can add to supply chain management software such as real-time collaboration, data visualization, and controlling units to empower the sleek supply chain business.  

Resource Management Functionality 

You read it right! Resource management also owns its significance in the supply chain business. As we know production encompasses raw materials, time, labor, operational cost, and technology. To manage all the undertaking it is important to allocate the right resources management feature. 

These factors will make sure the production is thoroughly optimized and offer complete efficiency within the process. Companies can also be able to calculate the resource of the available capacity to predict the future in terms of revenue and performance. 

Not only this but scheduling the workforce through the resources management functionality also encourages your staff to complete the work within the time frame. Through this, you can too stay assured that you are not over-promising the orders and your production is going in the right direction. 

Integration With ERP systems 

We are sure every business leader will agree with this point that whenever a business grows it demands several tools to manage its operations to empower proficiency. This is where ERP software comes into the picture! ERP has taken some great leaps in the technology advancements in the current IT ecosystem. 

We can’t deny the fact that these tools are customized in a certain way that can accommodate every industry’s needs and requirements. It is now replacing the cost of overweight and traditional equipment. Therefore, it is important to integrate your current supply chain management process with ERP software to ensure the work is smooth and efficient.

Operation Management Functionality With AI-driven

As said above, the robust dashboard and interface are important for your business to align with the current ecosystem. Hence, operational management with an AI-driven approach also helps with demand planning and forecasting. However, this is used before the goods or raw materials get acquired or getting the estimate the materials can be used in the production. 

This is an important factor for supply chain management to get accurate information and forecast to avoid errors. If an employee is not getting accurate detail there are chances that the company may lose the revenue either by having too much inventory or having nothing in the production house. 

Final Words

Here are the best features that you can add to your supply chain management software. Make sure you are taking help from the enterprise software development company to have the best software in the market. Your business deserves the best!

Author’s Bio:  Alicia works with the editorial team of A3logics, a leading company offering product engineering services. Exploring the latest technologies, reading about them, and writing her views have always been her passion. She seeks new opportunities to express her opinions, explore technological advancements, and document the details. You can always find her enjoying books or articles about varied topics or jotting down her ideas in a notebook.