Supply management is one of the key components of a successful business regardless of its niche or service portfolio. Once you find a suitable supplier or B2B partner with the items or services you need to remain operational at peak capacity, you will want to ensure that a supply management plan is in effect.
According to Learn G2, only 22% of companies take an active approach to their supply management design, while 63% don’t monitor supply chain performance whatsoever. Additionally, Forbes reported that while 94% of supply chain leaders favor digital transformation, only 44% had a strategy ready to back those claims. These numbers leave a lot of room for you to elevate your business through careful supply management and procurement of materials needed for optimal performance
Drafting a supply management plan takes effort and panache for small details due to legalities and mutual obligations which will require careful listing and formatting. With that said, let’s take a look at how you can benefit from supply management plan writing and the steps necessary for its successful drafting and approval by all parties included.
Why a Supply Management Plan is Beneficial
Before we dive into drafting a supply management plan, let’s discuss its importance in the grand scheme of things. Depending on the industry you operate in, you might require special parts, raw materials, or unprocessed goods on a regular basis for refinement and distribution.
However, in order to keep the production process running, a steady supply of the said items will be necessary at any given moment. Thus, it can be highly beneficial for your company if you opt to standardize your supply management documentation for quick and easy procurement of goods.
By utilizing tools such as Trust My Paper, Evernote, and Grab My Essay in your supply management plan writing, you will effectively streamline your operations. Doing so can bring about several important benefits for your company going forward, including but not limited to:
- Dramatically lowered downtime between supply shipments
- Flattened margin of error or mismanagement due to standardized documentation
- Streamlined performance analytics and long-term data management
- Improved B2B and B2C stakeholder experience with your company
- Rise in overall productivity, production performance, and overall ROI
Supply Management Plan Writing Guidelines
1. Supply Management Plan Overview
In order to get the most out of your supply management plan, it’s important to note that it doesn’t require a set length or complexity. Drafting a supply management plan for long-term use is all about auditing your current operations and understanding the pain points of your company. You want to introduce your supply requirements to the recipient of the said document at first glance without requiring them to read through endless pages.
As such, the introduction to your supply procurement document should be reserved for a standardized table with your company’s information within. Data about your recipient, listed products, or services you require, as well as a quick look at your timetable, should be on the first page. This will enable anyone to quickly glance at the procurement request and have an idea of how realistic it is without analyzing the entire document.
2. Supply Procurement Policies Outline
Assuming that your company has procured goods or raw materials from vendors before, you are bound to have certain policies and requirements in place. Information on your storage unit types and capacities, safety requirements, special handling requests, etc. should be placed here.
Writing platforms such as Studicus and Hemingway Editor can be utilized to write and format your supply policy items prior to procurement. In order to make the procurement process simple and efficient for both parties, you should aim to include said policies in the supply management plan.
3. State your Quality Assurance Standards
Safety and health hazards should always be a top priority when it comes to continued protection of your employees. Introducing a special section on quality assurance (QA) to your supply management plan will effectively communicate your risk management requirements to the supplier.
While such rigorous QA might not be necessary in the instance of IT components, for example, medical and chemical supplies most assuredly do. Don’t take the chance and be proactive about your QA – outline your standards in case of poor supply quality to provide suppliers with enough information.
4. International/State Laws Breakdown
Working with international suppliers is both good and bad when it comes to procurement of necessary goods for further production and processing. On one hand, you will effectively multiply your choice of suppliers and shipping methods from the local area.
However, international and state laws come into play due to taxing of imported goods, as well as customs regulations. It can be disastrous for both parties if shipping is stopped dead in its tracks at the borders only for your supply to deteriorate gradually. Make sure that your suppliers are aware of local laws and requirements through the supply management plan you submit for their consideration.
5. List your Supply Requirements
Once you’ve outlined the necessary governmental, safety, and company regulations, you should proceed to draft the list of goods you require. This list can take the form of an Excel spreadsheet, a specialized table created for the supply management plan, or a bulleted list depending on complexity.
Writing platforms such as Wow Grade, Readable and Supreme Dissertations can be used to edit and format your list of supply requirements prior to submission. The more legible and objective your procurement requirements are the faster and more efficiently they will be processed for your benefit. It’s good practice to include contact information in this section to allow for quick referencing and outreach from your supplier for clarification and confirmation.
6. Detail the Logistics Timeline
The last piece of the proverbial supply management puzzle concerns your procurement timeline. Mainly, when do you require the supplies you’ve outlined? Do you need them in bulk or can the supplier send them in segments? Likewise, does the entire order go to one location, or is it to be distributed across multiple storefronts or warehouses?
Your distribution timeline and logistics details are just as important as the supply outline itself. You can also add any long-term contract requests or recommendations for further B2B cooperation in the distribution timeline section of the supply management plan.
In Conclusion (coupled with a relevant CTA)
When the process of writing a supply management plan is broken down, it may seem challenging to draft such a document for your company. It’s worth pointing out that once you’ve created a template for procurement, it will be easier and more efficient to manage your supply going forward.
Leave the door open for additional refinement and improvements in your supply management plan based on peer and supplier feedback. Once you settle into a routine of filling and submitting procurement requests based on the outlined supply management plan, your company’s performance will drastically improve.
Diana Nadim is a writer and editor who has a Master degree in Marketing. She combines her passion for writing with her interest in research and creates thought-provoking content in various fields. Besides working as a contributor writer for WowGrade and TrustMyPaper, Diana also does some editing work at GrabMyEssay.