How Autonomous Supply Chain is Changing Vendor Collaboration and Management

Gone are the days when you had to hire teams to chase vendors for confirmation of orders, advance shipping notice, invoices, and delivery of orders. From placing orders to tracking it and all the way through the supply chain, today, all the information is in your hands.

Autonomous Supply Chain

You’re probably wondering how because you don’t exactly have it in your control but haven’t you heard of supply chain automation? That is what is making the difference for global retailers today. The fact is that an inefficient and poor functioning of the supply chain negatively impacts every aspect of an organization. To overcome such inefficiencies, the concept of automation was introduced to resolve issues throughout supply chains.

Now, we can totally relate to the question in your mind. “What are the inefficiencies that an autonomous supply chain has the power to overcome?” So, it’s time we start talking about the solution that can work for you.

1. Transparency
The biggest point of concern when it comes to operating retail businesses is the need for transparency. Until a few years back, retailers hired personnel to keep tabs on quality issues, over and under shipments, timely delivery, credit notes, discount terms, etc which was clearly a tedious task. And even after rigorous practices, relying on humans to precisely calculate estimates became tricky and unreliable. That’s because there was always a risk of possible human errors. With Supplymint’s DigiVend, this problem has ceased.

DigiVend gives retailers the ability to track products and services right from placement of the order or service to its delivery, that too in real-time. With the solution being cloud-based, the need for knowing the whereabouts of orders and services becomes as easy as a simple click.

Check Out: Introduction to Supplymint Modules

2. Real-Time Communication
Most often than not, retailers made sub-optimal buying decisions, owing to a lack of real-time updates and projections. But this is no more a problem for retailers because Supplymint’s DigiVend gives retailers and vendors a platform where they can discuss the status of orders in real-time. Not only this, the platform has set the bar high with features to discuss issues on comments and have mail transcripts as records.

3. Power Analytics
Analytics is one of the most crucial elements of any business. The same is the case with the retail business. DigiVend gives retailers accurate reports for the ledger, sales, stocks, orders, inspections, logistics, and many more. This helps a retailer figure out their business operations. As much as multiple formats and sources of ordering and collaboration make tracking difficult, DigiVend brings together all information to make analytics easier. There’s no doubt that performance management is changing tremendously but with analytics from DigiVend, decision making becomes very convenient.

Insightful Read: What Customer Experience Looks Like in 2021

4. Multiple Relationship Management
No reason to cut out vendors from supplying your products is justified when the demand for a product is high. You wouldn’t want to make lower profits knowing that you could have made more and this is why Supplymint gives you the opportunity to make it right. We give a retailer the platform that gives them access to manage orders from as many vendors as possible and this helps a retailer because they can deal with vendors who have the capacity to deliver.

There are also times when retailers wish to replenish products in high quantity but a single vendor fails to deliver it. In such a case, through Supplymint’s DigiVend, a retailer can manage to track orders from two or more vendors for the same product.

5. Sustainability
To keep a business up and running, it’s important to make more profits. And to keep up with the desire to earn more and keep a company running is easily achievable with the use of Supplymint’s DigiVend that looks after all of the retailer’s major and minor supply chain issues. With an automated process, a retailer never has to worry about updates, analytics, communication, etc which ultimately draws the power for sustainability.

Conclusion: Working in the industry for so many years, many retailers lack the vision to see the future of autonomous supply chains. But, with time, companies are evolving. The realization of the need for an autonomous supply chain is what landed companies like Surya Sarees, Gurram Bros, V-Mart, JC Brothers, Megashop, and more in using Supplymint’s DigiVend because automation is the future.

Recommended Read: Supply Chains Moving from Globalization to Regionalization

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