8 Ways To Cut Costs from Your Supply Chain

Supply chain experts from Stord, a global logistics and integrated software provider, recently shared their best practice tips and lessons learned from reducing the operational costs of high volume e-commerce, DTC and B2B brands.

Here’s a summary of their top 8 cost-cutting measures for a supply chain (full blog here):

1. Understanding ‘Fully Delivered’ Costs – simplifying technology integrations and vendor partnerships can improve administrative efficiency and reduce warehouse-to-door costs
2. Investing in an Order Management System (OMS) (or other critical software) – this doesn’t have to be ‘eneterprise’ level and at huge cost or take years to implement
3. Warehouse Management Systems (WMS) – keeping operations management in-house (rather than outsourcing to a warehouse provider) can give you more control
4. Scale, Optimization and Visibility – partnering with organizations that allow for scalability of logistics and eCommerce processes
5. 3PL with both Technology and Physical Capabilities – partnering with a third-party logistics provider that has both the technology (automating workflows; real-time visibility, etc.), as well as the physical network (fulfillment + final mile) can increase efficiencies
6. Accurate Inventory to Accurate Delivery Dates – improve inventory control and hold optimized inventory levels
7. Optimize Inventory Maangement – the easiest way for companies to reduce spend in their supply chain and logistics operations! Demand forecasting and just-in-time inventory strategies can help minimize holding costs, and prevent overstock or stockouts
8. Simplify Inventory, SKUs and Packout – rationalize stock-keeping unit sets to reduce storage of dead or underperforming SKUs. Simplify the packout process

While these measures are crucial, they all presuppose the physical locations (warehouses, offices and retail sites) occupied by a business – property! That’s where we come in.

Tenant Leasing Group (TLG) secure the best deals on sustainable property solutions for retailers, eCommerce, and other firms with warehouse requirements, enabling all of the above cost-saving steps and ultimately shaping the bottom-line. 

We also partner with specialist project managers with delivery expertise in warehousing and fit-outs. This way our clients can focus on their day-to-day management and new business development. Reach out to learn more.