So imagine for a second that it’s 2024. You’ve spent time and money analyzing and futureproofing your single-SKU supply chain. It’s better, a whole lot better — but what does it look like exactly?
We’ve broken it down so you can see the future a bit more clearly.
1. You’re predicting demand
Every morning starts the same way now, with a snapshot of what demand is likely to be. Your new best friend is your software, which outlines exactly when you can expect busy and quiet spells in a crystal-clear, shareable dashboard. And because AI has taken the guesswork out of your planning, you can use all that saved time and energy for other things.
2. Your days on hand (DOH) inventory is lower
Predicting demand and receiving your inventory quicker means there’s no need to hold so much stock nearby. As your daily on-hand inventory is reduced, so is the need for the space and the costs associated with managing it. You’re seeing a lot less shrink across the process, too. The result? Less waste and a much more sustainable model.
3. You’re shrinking your shrink
Instead of worrying about waste, you’re wiping it out. Increased accuracy of storage and knowledge of timings means far less misplaced products. Everything is where it’s supposed to be, and if it isn’t, you spot it quickly from your dashboard. Controlling shrink is good for business, for the environment, and for your customers (who are thrilled with the consistently high quality).
4. It’s taking less time to receive your inventory
Your supply chain is now overseen by your software, so product flows in with less friction and throughout the supply chain. This has a knock-on effect of making it easier to increase your SKUs, so consumers have even more choice. Simplified processing means you’re spending less on labor, but the time and money you are saving is allowing you to improve the experience.
5. Life is better for your people
Your shop floor has more automation, sure, but the new system still needs your valued staff to run smoothly. The essential role played by employees is now focused on high value tasks, so roles are more challenging, work environments are safer and more ergonomic, and the whole experience is a lot more satisfying. Finding new recruits to join your team is also easier — you are growing workplace culture and providing solid career progression.
So there’s a lot to look forward to. Not only is your business more profitable, it’s more resilient, too. You can feel a lot more prepared for the unpredictable and carry on growing your SKUs and keeping customers happy.