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In the absence of efficient digital supply chain solutions, today’s lighting appliances manufacturers face a slew of supply chain challenges, including rising demand volatility, supply chain infiltration, warranty related issues, production capability constraints, FIFO Management issues, rising natural and human-made risks, and increasing intense market competition.
It is rapidly doing wonders for brands dealing with booming demand and issues therewith.
The Lighting and Electronic Appliance industry has come into the limelight as a result of rising global supply chain challenges and brisk demand. Ongoing supply chain issues have driven several companies to report a worsening scenario, including production disruptions, overstocks, and increased costs.
A sharp drift from the conventional supply chain is needed to adopt the powerful Digital Supply Chain.
A successful supply chain gives businesses the tools, network, and confidence to stay agile and respond to any kind of disruption, be it a pandemic, component shortages, workforce cuts, or changes in consumer demand.
With this, Genefied today aims to help you understand the functioning of the successful implementation of our solution-SupplyBeam across the Lighting and LED Appliances industry.
SupplyBeam-Supply Chain Traceability and Management
It is a QR code-based tool that enhances the traceability across your appliances brand’s supply chain.
SupplyBeam leverages QR Code Technology to streamline supply chain tracking. It strengthens the sales, increases the market share, and increases revenue.
Client Overview
Our client is one of the leading manufacturers producing lights, fans, LED, and other lighting appliances, operating at a multi-national level. Since its inception, it has managed to gain its market in over 50 countries. Given the existing competition and rising consumer demands, it approached us for an integrated Digital Supply Chain Management tool to manage its ever-spreading business.
Here Begins its story!
Owing to its worldwide spread business, there were vast disruptions across their supply chain which led to leakage of their market revenue.
The company struggled with the following issues:
Our client failed to maintain the track record of the distributions, sales, or returns from customers in its widely spread supply chain since it relies upon a huge number of distributors, sales representatives, and dealers for its business. It had no means to keep a record of sales, supplies, or returns made by customers, be it for fans, LEDs, lights, and other appliances.
The reliance upon registered/human-made records was not giving any real-time tracking and required results.
In addition, the inability to maintain transparency across the supply chain further led to a loss of finances, time, and human resources. Operating at such a large scale, disruptions and losses were being faced because of incapability to adopt FIFO Management at plant and warehouses.
Thus, resulting in wasted labour, service redundancy, and deferred warranty activations.
Failure to track the flow of appliances from the plant, warehouse and the distributors caused our client to suffer from delays and ultimately a continuous revenue leakage at various points across its supply chain due to delayed warranty activation (as when products are kept for a prolonged time in warehouses) and also unexpected product stalls made at either distributors or retailer platforms.
Our client faced several issues while dealing with maintenance and settlement of product recall and re-orders. It was difficult to segregate
This erupted due to supply chain distortions and decentralized supply chain management. In the absence of QR code like tags upon their appliances, it failed to perform the rapid traceability function and analysis during the times of product recalls.
Long term stocking in its plant and warehouses, and even at distributor set-ups owing to failure to comply with FIFO Management results in delayed warranty claims. This was another loophole in its business processing. Also, there were no digital means to activate and manage warranty-related processes.
Lack of reliable supply chain traceability solutions burdened our client with inventory mismanagement. Our client brand from the lighting industry failed to do the equipment, materials, or production planning and manufacturing. Thus, difficulty to keep up with the plant’s production capacity utilization.
Due to the absence of efficient Supply Chain Management tools, our client suffered from poor data availability related to customers, suppliers, product/production maps. This further caused inconvenience in smooth operation and analysing data due to non-integration and thus, failure to perform integrated business planning!
After careful evaluation, we offered our client our Digital Supply Chain Management Solution.
Genefied offers a UID (Unique Identification) to every piece in your supply chain, along with a parent code on the shipper of the master carton. You can track shipments in real-time from the plant to the warehouse to the distributors.
Focusing and working around our client’s requirements and long-term goals, we provided our client with the following:
We have successfully empowered our client with complete Supply Chain control via our unique QR codes. Now, they can keep track records of every appliance that travels across their widely spread supply chain through the centralized system set under the digital supply chain management system.
With our QR code-based blockchain, our client can quickly implement product recalls and also control unverified claims within supply chains. Our digital supply chain system helps raise accountability for claims of authenticity and keeps a check on inefficient product recall management across their supply chain.
QR codes based Supply Chain Traceability has helped our client to efficiently manage the product inflows/outflows in the plant and warehouse. This is managed through a centralized system that automatically aligns the units according to the FIFO system during the time of product outflows.
Thus, control over obsolete and excess inventory.
Our QR code-based digital supply chain management software helps protect any revenue leakages across our client’s supply chain. Not only this, data inputs (market and customer-relevant data) received through QR code scanning by retailers, customers, sales agents, etc., help them design effective and competitive strategies.
With SupplyBeam, our client can harness quality data for better business intelligence. An innovative SCM operational upon unique QR codes helps it grab analytics to forecast customer purchase behavior. This supply chain data can be directed to meet the expected demand.
Remember:
Forecasting demand accurately is crucial to an effective supply chain. A more accurate forecast ensures a smoother supply chain process, ensuring a lower level of operational cost.
We have entirely digitalized and safeguarded our client Brand’s supply chain with our cost-effective QR code-based solution. Shunning away redundant paper-based records and their loopholes, now, our client is capable of solving the issues of Inventory Management, Distribution Mapping/ Undercutting/ Infiltration problems through digital product identification and traceability.
To thrive in today’s highly competitive global marketplace, producers need to quickly handle their supply chain disruptions in order to establish the groundwork for more mature capabilities in the future.
A robust, and secure digital supply chain is needed to ensure a reliable supply of raw, refined, and processed material inputs for a smooth flow in the market.
Data effectiveness and integrity are fundamental in making the most of investments in analytics, digitization, optimization, machine learning, big data, and other advanced supply chain capabilities. The perfect solution must be capable of providing reliable and industriously managed data from across the comprehensive supply chain.
SupplyBeam, an intelligent supply chain traceability software, gives it all.
If your brand is also dealing with supply chain issues that have caused a dent in your revenue, call our experts today.
We have successfully helped brands in the lighting, LED, Fans, and Electronics industries deal with problems concerning their supply chain management.
Our digital supply chain management solution guarantees maximum transparency across your Brand’s Supply Chain. It works via Blockchain-based unique QR codes to assure high-level quality data maintenance concerning suppliers, distributors, partners, customers, and retailers.
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