The phrase "supply chain management" gets thrown around a lot these days as businesses navigate COVID-19, but what exactly does that mean? It's a bit more complicated than not having toilet paper on the shelves. Sure that's part of it, but have you ever really thought about all the stages that toilet paper goes through before you pick up a package in the store?
As a business and an employee, your goal is the bottom line. A recent study revealed that on average, companies lose about 20%-30% of revenue a year due to inefficient processes. That’s equivalent to 78 working days a year per employee. Time and money that could be going to expanding the business, increasing salaries, or providing needed tool. Yet it doesn’t stop there. Inefficiencies go beyond the bottom line to effect even more aspects of your business.
When it comes to choosing a process improvement company to help your business reduce waste, there are a lot of different aspects to consider. Picking a company is like hiring a new employee. You want to make sure they fit well within the culture of your organization, have the skills you're looking for, and will be able to get the job done.
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