When your business is all about keeping the heartbeat of commerce pumping, sudden changes in the supply chain can paralyze your operations. As a distribution business owner, you do your best to plan for every contingency. Unfortunately, the supply chain has been extra volatile in the last few years–and it’s not likely to calm down any time soon. If you’re relying on old, reactive planning methods, at best you’re just playing catch up. That’s why embracing modern supply chain forecasting methods is essential for your success.
New Supply Chain Problems in a Changing World
The supply chain is facing unprecedented risks today. Geopolitical unrest, sanctions, and tariffs impact costs, availability, and trade. Whether goods are being transported by land, sea, or air, economic instability sends out ripples that translate into rising costs. Shifting consumer priorities can also throw off your demand forecasting. Even the weather can be a wildcard. Changes in weather patterns cause unexpected slowdowns, port closures, and supply shortages. And let’s not forget the supply chain chaos unleashed by COVID-19.
Unpredicable weather events and pandemics aside, you’re also facing all the risks that come just from managing a business. For example:
- Staying on top of shifting laws and regulations
- Inventory management
- Inefficient communication
- Filling talent gaps
- Staying up to date on technological opportunities and threats
How Smart Data and AI Can Help
The need for more accurate supply chain management still exists post-pandemic. Research from Moody’s shows that 69% of businesses say they lack visibility over their supply chain. Without an accurate picture of what is going where, any attempts at supply chain forecasting run the risk of being wildly off-base. Errors in forecasting leads to wasted opportunities and wasted money. So how can you increase your odds of getting it right?
This is where AI can help. According to the World Economic Forum, AI will play a major role in helping companies weather the next major supply disruption. A system that uses AI powered software has been shown to create accurate forecast models that can adapt to sudden changes. Generated directly from smart data that updates in real-time, these models also get more accurate as time goes on. AI can see patterns before they become a problem, like
- Spotting bottlenecks in your processes
- Inventory issues
- Employee scheduling conflicts
It can then suggest different courses of action to reduce or even circumvent those problems.
Workforce Go Solutions for Distribution Success
Forecasting in Real-Time
Workforce Go delivers the real-time data and insights you need for your distribution business to thrive. Our platform comes equipped with predictive analytics so that your organization can pivot quickly through market changes. Whether it’s an expected disruption, like peak season, or an unforeseen shift, we can help get you through it.
Easily Access the Data You Need
Of course, the best data in the world won’t help if all the stakeholders can’t access it. For a system to be truly effective, it should be user friendly and integrated with other key technologies.
Workforce Go is fully integrated with some of the most popular ERPs on the market, like Sage and Acumatica. Up-to-the-minute information flows bidirectionally between Workforce Go and your ERP, eliminating information silos. Both our interface and our implementation procedures are designed with users in mind. Our team is committed to providing all the support you need to make the transition to our platform as pain-free as possible.
The Most Often Ignored Supply Chain Risk
Even though it’s not often cited as a factor in supply chain forecasting, your employees play an enormous role in how your company responds to changes. With Workforce Go, you can
- Spot your organization’s top talent
- Find talent gaps
- Streamline hiring and onboarding processes to quickly fill those gaps
With employee-centered innovative programs, like Payroll on Us, we also help you keep the talent you have.
Conclusion
With the supply chain going through more ups and downs than a roller coaster, it’s no wonder some distribution business owners feel a little sea-sick. A modern solution that harnesses the power of AI doesn’t just help your organization ride out the wilder storms. It helps your business make the most of situations so it can reach its full potential.
Ready to move past outdated methods and build a resilient supply chain? Contact us today for a personalized demo. See how our solutions can transform your distribution business.
