Metafile in Supply Chain World: “Shorten the Cycle”
The food and beverage landscape has changed considerably over the past decade and 2013 is sure to bring even more new demands. According to a recent study by Nestle, in 2013 companies will invest more money in regional production of frozen and prepared foods to ensure freshness and convenience for customers, which will surely bring new logistical challenges.
With the ever-changing customer demand and need for the supply chains to run efficiently, supply chains would be wise to examine their internal infrastructure, such as their accounts payable/accounts receivable (AP/AR) solutions, in order to identify opportunities to streamline and optimize processes.
Fulfilling customer demands through the efficient use of resources, including distribution capacity, inventory and labor, while maximizing profits and revenue, is the primary objective of supply chain management. However, supply chain managers may be less familiar with a critical cycle: the cash conversion cycle, or CCC, which gauges the efficiency of a company's cash management.
Recently, in a contributed article for Supply Chain World, I shared insights on how food and beverage supply chains can embrace Paperless ERP in order to streamline the accounting process and shorten the CCC. In the article, we look at several benefits that Paperless ERP offers including increased visibility, simplified workflows, and decreased costs.
Read the full article here and feel free to let us know your thoughts in the comments!