Optimizing your GNFR Supply Chain
The goals of optimizing the Goods-Not-for-Resale (GNFR) supply chain include:
Cost Savings
By identifying and tracking GNFR expenses, a retail business can identify areas where cost savings can be made, such as by negotiating better prices with suppliers or standardizing purchasing processes.
Inventory management
By implementing an inventory management system, a retail business can track inventory levels and identify areas of overstocking or stockouts, which can lead to cost savings and improve efficiency.
Improve supplier performance
By implementing performance metrics such as On-Time-In-Full (OTIF) and implementing a continuous improvement process, a retail business can improve supplier performance, leading to more reliable delivery schedules, reducing stockouts, and increasing customer satisfaction.
Increase efficiency
By optimizing the GNFR supply chain, a retail business can increase efficiency in areas such as purchasing and transportation and logistics, which can lead to cost savings and improved performance.
Increased Visibility
By having a centralized data repository and monitoring system, the business can have a better visibility of the supply chain, which can help to make informed decisions, anticipate issues and plan ahead.
Risk management
By having better visibility and control over the supply chain, a retail business can mitigate the risks associated with GNFR.
Optimizing GNFR Supply Chain to improve overall performance and profitability
In summary, the goals of optimizing the GNFR supply chain are to reduce costs, improve inventory management, improve supplier performance, increase efficiency, increase visibility and mitigate risks. By achieving these goals, a retail business can improve its overall performance and profitability.
About Lumatrak
Lumatrak’s PULSE software offers you tools that will help make sense of the chaos by connecting the processes, systems and communications supporting your purchases from the time of purchase to final delivery to your site.