Supply Chain Industry Trends

What’s New in the Supply Chain Industry

The supply chain industry is a complex network that oversees the flow of materials, information and finances in a business setting. There are three main flows within the supply chain industry, namely the financial flow, informational flow, and product flow. Usually, in business, things are separated out, with workers overseeing different areas of the supply chain. Today, however, the market has changed.

What used to be distinct and separate from one another, be it customer service, warehousing, or accounts payable, is now being melded together in order to promote greater efficiency through crossover training. People who work in customer service at a Best Buy, for example, may also be trained to take on tasks as cashiers or warehouse workers. The more crossover training employees receive, the greater the efficiency the business is run, or such is the plan.

There are also developments happening in the job world where more and more people are working from home and starting their own business on their laptops. This blurs the lines even more, as those who work from home generally handle all of such tasks unless they’ve partnered with someone.

Why is this happening more and more? The shift in the market structure has made it a necessity for businesses to do more with fewer people. Grocery stores (and the customers who shop there) experience it when they see only two lanes open at the registers and hear stockers being called up to cashier during a rush. It costs a lot more to hire on more people, so a lot of businesses are cross training their employees to do any tasks that need done. This saves the business money in the short-term, and potentially in the long-term as well.

So to recap, what is going on in the supply chain industry? Businesses are seeking to become more efficient, save time, and save money by training a smaller number of employees to do a lot more in a given work day.