Business Challenges Solved with Project Based Supply Chain Management
In today’s dynamically evolving era, in order to remain ahead of competition and meet the demands of the complex market, businesses need to ensure that all their operations are well aligned and connected. Operational excellence in projects can only be achieved if all departments work in sync and silos are eliminated. Project managers need to be well aware of modern supply chain solutions and tools. Quite often, project managers simply do not focus on supply chain management or they are simply not aware of modern supply chain technologies or solutions. This lack of knowledge or inavailability of advanced technology creates a lacuna in the business, leading to ineffective and disparate operations, thus mangled business profits and customer satisfaction.
A supply chain can make or break project success. Supply chain drives the business or project. Project operations depend on supply chain for critical flow of material or information. Thus bottlenecks in the supply chain system can lead to adverse impact to the entire project. The supply chain thus needs to provide seamless passage to information. It should minimize risk and ensure that project is completed within assured deadlines, and within budget.
It’s imperative that business not only invests in efficient project management but also pays equal if not more attention to supply chain operations. A project that incorporates seamless collaboration among departments, breaks silos and delivers superior products/services will be successful. A robust project-driven supply chain empowers businesses to take quick and better decisions, an element that is critical to sustainable profits and project success.
Right from project bidding, design and engineering to actual installation, there can be a number of challenges that the project may face. Wrong timeframes may be allotted which may turn out to be undoable. Project managers may have difficulty in managing the costs or may not know how to go about manufacturing operations. There may be a delay in flow of material or wrong amount of quantities may be ordered. The bill of material may be delayed or due to absence of real-time tracking, there may be severe delays in deliveries, which may lead to heavy penalty and even loss of trust from the client. Another major challenge that the project may face is a disparate supply chain system wherein project managers may not be able to gain an overview of the entire project, thus leading to ineffective and delayed decision-making.
Project-driven supply chain solutions enable managers to execute projects with surety of success. It comes to the rescue by arming project management with real time information and visibility. This means that project managers can now gain an overall view of the projects, understand the success factors and the gaps in each department. This way they can take enhanced decisions and proactively take corrective action as and when required.
With project-driven supply chain in place, updates from departments can be fed in one go, again enhancing the visibility of operations for all involved. Project-driven supply chain also enables accurate planning, stocking, and flow of material or information, mitigating unwanted delays or out- of-stock scenarios.
Project-driven supply chain, with its ability to gauge the ‘what if’ scenarios is extremely beneficial during the bidding process, thus ensuring that managers able to set doable timeframes and that they are well-prepared for hiccups during the projects. This drastically reduces the risk of unforeseen events, thereby reducing the risk for penalties and loss of customer experience and expectation.
Project-driven supply chain solutions are evolving to make sure projects are delivered on time, sustainable profits are churned out, customers are satisfied and each stakeholder is given fair share of visibility through better transparency and connectedness. Informed decision making is what drives projects to success and this is what lies at the core of project-based supply chain.
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