How to Tackle The Four Major Obstacles to Value Chain
December 6, 2021
The Importance of Value Chain
For successfully scaling your business, products, and services, it is essential to identify and address primary challenges coming across your value chain. Traditional product processes are hampered by manual business processes, siloed product data, and strict allocation of job responsibility among teams like sales or engineering.
As a result, these challenges have a negative impact on numerous aspects of the product development lifecycle including product development, customer satisfaction, quality, time to market, and many more.
The following four obstacles will give you an exact idea of how efficient is your value chain?
1. Is your change management process failing to provide clear visibility into what changed, when, and by whom?
A cloud-based system enhances workflows and approvals thus reducing iterations and change order cycle times. Having an effective change management process helps you in organizing revisions and tracking different versions of your documents to ensure information is consistent and safe.
2. Are your team members spending too much time and energy in hunting data for products across numerous systems?
Teams across organizations with the help of collaborative product platforms can easily access product drawings, information, and identify which parts are being utilized in the production line. Consolidating all records of a product into one single and unified location enhances overall employee productivity and eliminates the need to dig through emails or open multiple tools to find the latest product information, updates, and design files. Having everything in one place ensures that you are sending the most up-to-date information to suppliers.
3. Has human errors or lack of visibility led to incorrect parts being ordered?
Have a single source of truth. This ensures that your teams have the correct parts, information, and the exact quantity of those parts. Additionally, with a comprehensive platform, you can identify and resolve potential quality issues much sooner, reducing the possibility of designing products with components linked to quality complaints or incidents.
4. Are you losing your valuable time to market while waiting for changes to get approved by stakeholders?
Utilizing a single platform makes it easier to communicate the latest updates, versions, and information to your value chain and eliminates delayed approvals. Comparing product revisions and managing multiple work streams concurrently becomes easier without breaking workflows within your workspace.
The Ever-Increasing Complexity of Value Chains
Value chain managers have complicated job responsibilities and this job is getting complex day by day. Having a well-executed, efficient, and effective value chain can help you in creating a competitive edge over your competitors.
Value chain managers consider all risks associated with their value chain. Thus, they ensure that their organization has the best quality suppliers at the best price. Subsequently, you can start reaping the growth, benefits, and rewards.
You can mitigate critical risks in one fell swoop if you have sound knowledge and leverage the right tools. When an organization’s value chain management runs smoothly, you can become your organization’s unsung hero.
Stay ahead of all your value chain challenges and demands with KloudPLM providing more than just visibility. We can help you minimize risks, reduce complexity, and costs for the entire value chain ecosystem. Learn more by scheduling a demo.