Working with logistics partners
In addition to working with suppliers, supply chain analysts also work closely with logistics partners such as shipping companies, warehouses, and freight forwarders. They will coordinate with these partners to ensure that products are delivered on time and that any issues are resolved quickly.
As with inventory management, working with logistics partners has also dramatically evolved in a Pandemic world. More and more companies are using 3PLs and 4PLs. These third and fourth party logistics providers help to streamline logistics and transportation needs. While it sounds simple, there are still a lot of moving parts – and people – to keep track of.
Throughout the day, a supply chain analyst will be tracking performance metrics such as on-time delivery rates, inventory turns, and order fulfillment rates. By monitoring these metrics, they can identify areas for improvement and make adjustments to the supply chain to increase efficiency and reduce costs.
This is where technology has really grown by leaps and bounds. The use of control towers, enterprise resource planners(ERPs), warehouse management systems (WMS), and other data heavy tools have created incredible synergies between all the partners involved in the day of a supply chain analyst.
Despite the best planning, sometimes things go wrong. A supply chain analyst must be prepared to handle any crises that arise, such as a delayed shipment or a supplier going out of business. They must be able to think quickly and come up with creative solutions to keep the supply chain running smoothly.
The best laid plans, literally. That’s the job, though, right? With a lot of moving parts and people, there’s an increased likelihood of something going wrong. Part of the skillset requires being keenly attuned to all of these machinations in as much of a real time as possible and to be able to quickly and calmly respond in the most efficient manner possible.
Finally, a supply chain analyst must stay up-to-date on the latest trends and best practices in the industry. This may involve attending conferences, taking courses, or simply reading industry publications. By staying informed, they can continue to improve their skills and make the supply chain more efficient.
In conclusion, a day in the life of a supply chain analyst is a busy and challenging one. These professionals play a critical role in ensuring that products and materials are available when and where they are needed. By working closely with suppliers, logistics partners, and other stakeholders, they help to keep the supply chain running smoothly. Whether it’s adjusting production schedules, managing inventory, or handling crises, a supply chain analyst must be able to think quickly and adapt to changing circumstances. With the right skills and knowledge, they can make a significant contribution to the success of their organization.
One thing is for sure: this is not a boring job and it has a ton of growth potential. The supply chain is in need of people at most every level and offers a multitude of opportunity to grow and advance your career across this exciting landscape!