When it comes to supply chain management, it’s essential that businesses set themselves up with tools that provide reliability. Below, we outline the four big business problems that Leverage solves, the challenges associated with each, and how we solve them.
- Scaling procurement operations
- Supplier management and compliance
- Data integrity and synchronization
- Supply chain visibility and management
1. Scaling Procurement Operations
- Problem: High volume of purchase orders (POs) and suppliers makes it challenging to meet customer demand through manual processes.
- Solution: Digitize POs and automate the procurement process to efficiently handle a large number of transactions.
- Why this is a Business Problem: Inability to scale operations affects ability to meet customer demand, impacting revenue and increasing business risk. Failure to consistently fulfill orders may lead to customer dissatisfaction and loss of loyalty.
- Use Case: Retail/DTC companies are highly cyclical, with the busiest season being from Black Friday to the end of January. They attempt to meet demand with temporary staffing strategies but prove suboptimal due to cost, efficacy and learning curve. Current customers & prospects include HVLG, Wine Enthusiast.
2. Supplier Management and Compliance
- Problem: Inability to consistently monitor supplier performance and compliance across the entire supplier base.
- Solution: Collect and analyze inbound order data frequently to assess supplier performance against established goals and requirements.
- Why it's a Business Problem: Suppliers are crucial business partners, and the inability to gauge their effectiveness can lead to disruptions, quality issues, and damaged relationships. Poor supplier management can harm the overall performance and reputation of the business.
3. Data Integrity and Synchronization
- Problem: Manual entry of data into the system of record leads to human errors due to the overwhelming volume of updates, POs, and suppliers.
- Solution: Enable suppliers to proactively update the system of record with any changes to POs, ensuring accurate and timely information.
- Why it's a Business Problem: Decisions based on inaccurate data can have significant consequences. Misleading information may lead to flawed strategies, affecting financial outcomes, resource allocation, and overall business performance.
4. Supply Chain Visibility and Forecasting
- Problem: Lack of a single, accurate source of truth for the status of purchase orders, with data scattered across emails, spreadsheets, and personal records.
- Solution: Automate the collection and centralization of inbound order data for accurate and reliable supply chain visibility and forecasting.
- Why it's a Business Problem: Relying on scattered and inconsistent data for supply chain decisions hampers the ability to forecast demand accurately. This can lead to inefficiencies, excess inventory, stockouts, and ultimately impact the bottom line. Having a centralized and reliable source of information is crucial for effective decision-making and risk management.
Want to learn how Leverage can solve your big business problems? Schedule a demo today.
