5 Things You Should Consider Before Writing a Supply Chain Policy
Whether you specialize in warehousing, international shipping and handling, or eCommerce sales, managing your supply chain is essential for your company’s sustainability. Based on published data, 57% of companies are of the opinion that adequate supply chain management can give a company valuable competitive edge. Likewise, 70% of supply chain professionals agree that proper supply management will be a decisive customer servicing factor before the end of 2020.
No matter how well-oiled your company might be, COVID-19 has inevitably put a wrench into standard supply management, especially in international waters. This is why writing a supply chain policy can be extremely helpful for your company’s stability on the market as we go into 2021. That being said, let’s discuss several key points you should consider before writing such a document and the practical benefits of doing so.
- Existing Supply Chain Pipeline
In terms of outlining a new supply chain policy for your company, you should start by auditing the existing supply management pipeline. More specifically, how does your company handle shipping, warehousing and handling of goods coming in and out of the company? This can be significant as it can give insight into critical bottlenecks which you should address in greater detail in the policy.
Also, it will highlight the elements of your supply pipeline which function as intended – these can be left as is and simply carried over. You can use writing services such as Evernote, Trust My Paper or Grammarly to edit and format your document as you write it. Don’t start writing a supply chain policy without a thorough audit of the existing pipeline and the final product will be more valuable for it.
- Digital Document Platform Integration
Next up, a point worth considering revolves around your continued implementation of the supply chain policy. More specifically, how will you keep tabs on your supply chain management, forms and documentation going forward? Storing paperwork in regards to supply management is critical for healthy long-term collaboration with other companies and your brand’s public reputation as a professional company.
You can digitize your forms and other documentation related to supply chain management via a dedicated online platform to make the implementation process easier. Document approval, search as well as integration with other warehousing solutions can also be done via such a digital platform. This is a practical thing to do if you don’t have software in place for e-signatures and document processing, so take it into consideration.
- Warehousing & Storage Capacities
What is the scope at which your company will operate going forward? While it may seem like a non-issue for supply chain policy writing, it can actually be more significant than you think. Your warehousing units and storage capabilities directly correlate with how much business you can do at any given moment. The scale at which you function as a transportation company is a factor worth considering for the future supply management pipeline.
Talk to your warehousing department heads about the units’ storage capacities and what kinds of specialized units you have access to. Writing platforms such as Grab My Essay, Hemingway Editor and Top Essay Writing can help keep track of your warehousing information through their formatting features. For example, refrigeration units allow you to work on medicine and food transportation. List everything that works and doesn’t work in your favor to have a better overview of your company prior to writing the supply chain policy.
- Quality Assurance Policy
Quality assurance is a major point of consideration when it comes to supply chain management. Whoever you work with will want their goods delivered in pristine condition, making local QA a must. If you don’t have a strict QA policy, you can audit your warehousing and storage units prior to writing the new supply policy.
Outlining your company’s quality assurance standards and regulations in regards to handling of goods can paint a very positive image of your brand going forward. This is especially true since COVID-19 has made contactless pickup and delivery a welcome addition to supply chain management. Outline your QA standards in details to avoid poor handling of goods and harm to your reputation as you work on writing the new policy.
- Local & International Shipping Regulations
Depending on the scale at which you operated so far, how well of an insight do you have into laws and regulations for your industry? Different shipping companies which operate in various territories will inherently fall into different regulatory categories for the goods they ship.
As such, you should take note of the local and international shipping laws concerning your company to avoid transportation issues. These regulations should find their way into your supply chain policy for the sake of transparency for any company that wants to work with you. Likewise, if you are working with international transportation companies, translating your shipping regulations might be a good idea.
Why Invest into Writing a Supply Chain Policy?
Now that we’ve outlined several important aspects worth considering in regards to writing a supply chain policy, why should you move forward with it? After all, writing a new policy is time consuming and you could spend that time doing something equally important for your supply management.
According to research, 79% of companies with high-performing supply chains achieved revenue growth greater than average for their industries. Due to changes in the global economy, 48% of supply chain executives experienced a need to reevaluate their warehousing strategy in 2020.
Reevaluating and reestablishing a new supply chain status quo can help improve your supply management pipeline in more ways than one. The real-world benefits you can look forward to if you choose to move forward with writing new supply chain policy include:
- Improved tracking, management and sustainability of warehouse supply
- Better B2B scheduling of incoming and outgoing shipments
- Improvement in in-house organization, employee motivation and productivity
- Better revenue generation and ROI compared to pre-supply chain policy writing
- Dramatically lower margins for error or delays in shipment due to better organization
Bio: Bridgette Hernandez is a professional content writer and business development advisor at Subjecto writing service. Bridgette’s writing career extends from online articles and case studies to academic writing such as college essays and research papers. She is working closely with the best dissertation writers on the market to provide her clients with quality, punctual writing on a short notice. In spare time, Bridgette is a reader, a jogger and a chef.