Small and Medium-Sized Businesses (SMBs) play a vital role in the global economy, contributing significantly to innovation, job creation, and economic growth. However, they often encounter unique challenges, such as limited resources, smaller footprint, scalability considerations, a smaller workforce, and budget constraints. The good news - there are numerous ways for SMBs to optimize their operations using today's technology, particularly in their supply chain.
In this blog post, we will discuss common inventory management and supply chain struggles SMBs face and best practices and tools to overcome these challenges.
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SMBs are businesses operating at a smaller scale than larger enterprises, typically with less than 500 employees. However, this doesn't mean SMBs aren't profitable. Some intentionally operate at a smaller size for their market niche, while others are rapidly scaling.
SMBs often encounter unique challenges that can impede their progress and hinder their ability to reach their full potential, including:
Before implementing best practices in your supply chain operations, evaluate your current systems and unify them into one technology platform. An Enterprise Resource Planning (ERP) system connects essential business functions like accounting, procurement, inventory management, and order fulfillment into one single system of truth. With the right ERP in place, companies of any size gain full visibility and control over their supply chain, enabling them to streamline operations and make well-informed decisions.
Many SMBs choose NetSuite as their ERP due to its cost-effectiveness, centralized management, and scalability. NetSuite is a cloud-based solution that includes accounting, procurement, customer relationship management (CRM), warehousing, and inventory management.
Once your ERP is in place, it is time to look at ways to simplify and improve your supply chain processes. Streamlining inventory and warehouse management is essential to coordinate and optimize the day-to-day activities in a warehouse to ensure efficient storage, movement, and fulfillment of inventory.
Once these best practices are implemented, the next step is to consider automation solutions to boost productivity and keep up with demand. Automation solutions, such as Automation for Autonomous Mobile Robots (AMRs), Automated Storage & Retrieval Systems (ASRS), and Mobile Dimensioners, are not here to replace your workforce but are a cost-effective solution to help your employees accomplish their day-to-day activities with speed, accuracy, and safety in mind.
Mack’s Prairie Wings, an SMB eCommerce business, implemented an ASRS through RF-SMART's Material Handling Automation Connector to efficiently manage their growing order volume, reduce labor reliance, and expand capacity as needed in the future. This investment has enabled them to speed up replenishment, maintain accurate stock levels, and elevate customer satisfaction. Automation also allowed their team to keep all inventory secure while maximizing their use of available space, helping them avoid a costly warehouse expansion.
- Mack's Prairie Wings
By taking a fragmented approach, SMBs can suffer significant growing pains. A disjointed, non-integrated solution is costly and can be difficult to implement, requiring manual workarounds and leading to limited visibility. To maximize the full potential of your warehouse, consider a software provider that can execute most, if not all, of the above solutions.
RF-SMART is a one-stop shop for mobile WMS, shipping, material handling automation software, label printing, and hardware - all built specifically for NetSuite. With RF-SMART's mobile barcoding capabilities, NetSuite ERP users can significantly reduce (and even eliminate) their manual touchpoints. By using a handheld scanner to track your stock as it moves through the warehouse, each transaction will be validated and recorded in your ERP, meaning any errors will be flagged for immediate correction, protecting the integrity of your data.
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