Why do Startups in Singapore Need SCM Software?

Table of Content

• Potential Problem when Startup Doesn’t Digitalize Supply Chain Management?
• The Benefit of Using SCM Software to Manage Startup’s Supply Chain Management
• The Features of Digitalized Supply Chain Management Software
• Conclusion

While digitalization is the new watchword, it is a broad term. Robotics, Cloud computing, and vehicles are all subject to the move toward digital technology. Distributors need to know the difference between digitization and digitalization to remain competitive. Digitization refers to a process of moving physical documents such as purchase orders and records onto computer files and digitalization means integrating physical processes with digital data to create a fully optimized result.

Potential Problem when Startups Doesn’t Digitalize Supply Chain Management?

Digital Transformation in supply chain management planning usually involves the development of new tools, skills, and processes that target a step-change in speed and agility for the SCM itself. These last few years, the focus of the supply-chain management function has shifted to advanced planning processes, and independent SCM functions such as analytical demand planning also integrated sales & operations planning (SOP). As that being said, the main purpose of digitalization in SCM is to integrate physical processes with digital data to create a fully optimized supply chain. so, there are several potential problems that may occur when a startup doesn’t digitalize SCM.

Less flexibility and responsiveness to change

By embracing technologies such as predictive analytics, or automating stock management processes, businesses are more likely to identify upcoming challenges earlier and have the capability to dynamically react to them. When a startup doesn’t embrace the technology they use and work manually, it will cause bad flexibility and responsiveness to charge at work. As a consequence, startups can not be positioned to deal with the rapid change that comes with supply and demand fluctuations.

Bad ability to handle big data and at a granular level

Technology provides the data insights that businesses need to make informed decisions and identify areas of improvement and opportunity. It also allows teams to dig into data at a granular level – whether this is tracking individuals along a supply chain or forecasting stock levels item by item. When a startup doesn’t digitalize their SCM, they won’t be able to handle big data properly under a manual or old system.

Bad accuracy

Moving from human-led to software-led processes can remove the element of human error. With advancements such as real-time tracking, comes the benefit of total transparency of business operations in the process of the supply chain. That is the important reason why startups have to digitalize SCM. 

Less efficiency

If businesses can integrate and speed up processes, this leads to greater operational productivity. The potential problem when a startup doesn’t digitalize SCM is they won’t be able to make warehouse processes more efficient. It will be very waste of time, energy, and cost. You can optimize the process of operational productivity by digitalizing your SCM with the best SCM software in South Asia.

The Benefit of Using SCM Software to Manage Startups Supply Chain Management

The over-reliance on Excel spreadsheets is a continuing issue for startup companies. There are three major benefit of using SCM software to manage supply chain management for startups: 

Improved product and material flow

Time-to-consumer is a crucial indicator of product flow efficiency. The less time it takes for goods to reach the end customer, the more efficient the product flow. Effective supply chain management enables startups to improve product flow through accurate demand and sales forecasting. Not only that,it also improves inventory management to avoid underproduction. SCM also minimizes delays and allows full traceability into the movements of goods from the supplier to the customer. SCM enables working strategies that can accelerate time-to-market and optimize business speed while ensuring high level of product quality.

Seamless information flow

Startup with effective supply chain management can remove the bottlenecks to supply chain information flow. It can help them evaluate the quality of information sharing, then implement solutions to best fill the gaps. SCM helps design effective best practices to facilitate different types of supply chain information that usually come in different formats and structures. SCM also enables accurate, timely, complete, and relevant information flow to avoid missed opportunities and possible risks.

Enhanced financial flow

Implementing supply chain management can help companies address all these cash flow challenges. Not only that, it also allows them to carefully evaluate their current processes, identify the weakest links that slow down and hamper financial flow, and determine the right solutions to address the problems.

The Features of Digitalized Supply Chain Management Software

With the right SCM software startups can proactively create and seize new market opportunities and mitigate risks that can negatively impact their entire business. With well digitalization supply chain management system in place, the startup can comprehensively and continually assess their processes, identify and fill all the gaps, lower costs, competently evolve with ever-evolving supply chains, and enable quicker decision making. There are several features of digitalized supply chain management software by HashMicro:

Inventory management 

Hashmicr’s SCM software consists of the most complete feature, one of it is inventory management. This feature helps you track your goods’ availability and make inventory adjustments to avoid risks and errors.

Shipment tracking

One of the most important processes of SCM is shipping management. HashMicro’s supply chain software has a shipment tracking system that helps you to locate your courier’s whereabouts. It will make sure that all the customer’s orders are delivered well and on time.

Procurement management

With SCM software from HashMicro, you will get notified when stocks reach minimum level and send purchase orders automatically. It will be very helpful tp grow your sales.

Order management

The order management feature from HashMicro’s digitalized SCM software helps you to track the order status and receive order updates. It also fulfills orders more effectively.

Return management

HashMicro’s supply chain management software is equipped with return management features. This feature will simplify the return process and set up solid returns solutions to improve customer satisfaction. 

Planning and  forecasting

Advanced analytics from digitalization supply chain management helps a startup forecast future demand and it will be very helpful for the production team to produce the right amount of goods market needs. HashMicro serves you planning and forecasting features to forecast future demand and inventory needs and also ensure the right amount of stock on hand with the most advanced analytics.

Conclusion

Nowadays, technologies such as Radio-frequency identification, sensors, and mobile connectivity have enabled organizations to transform their existing supply chain execution. It helps the capabilities to be more flexible, open, agile, and fully integrated. Subsequently, digitalization supply chain management is capable to take advantage of the emerging areas. Those areas include Big Data, Advanced Analytics, and Cloud Computing which is very essential to compete in the evolving market. Using supply chain management software is no longer a trend for startups, but it is already a main basic need.

Let’s move to the best supply chain management software from HashMicro to automate your supply chain processes. Most importantly, you will be able to increase the productivity and profitability of your startup with the most comprehensive and digitalized SCM in East Asia. Find out more about SCM pricing scheme calculation by downloading the pricing scheme calculation beforehand. Get a free demo now!