It is not enough to have a good idea in these fast-moving times. Your business might have the best idea, a large staff, a ton of investors, yet in truth, unless it has some fail-proof business processes, it won’t make it.
For a business to have any competitive advantage these days, it needs to run well, fulfill fast and meet customers' needs efficiently. This is dependent on the specific processes you put in place and how you manage them. Tons of components go into your functioning business processes, but how can they be made more productive to give you the edge you need?
Your business had specific processes designed to make it operate well. However, what sets companies apart is how those processes are carried out. What workflows (or specific processes—could be using technology/software, physical placement and so on) do you have that you feel sets you apart?
If your business operates with a robust workflow in place, especially within your warehouses, fewer products are damaged, employees feel safer and more equipped, customers receive orders faster, inventory is tracked more efficiently and so on!
Comparing this strategy with a business struggling with its workflows shows an advantage financially and systematically.
Dysfunction doesn’t sustain, meaning your business will go the distance. So what makes the difference? There are several ways a workflow/ process can be bolstered to give your business a competitive edge.
So what aspects are essential to focus on? Which will give your business the most significant advantage over others? Assessing what you need and where your business strengths and stretches are is vital.
Here are a few essential business processes you should focus on to gain a competitive advantage:
One area that can give a competitive advantage is employing software that recognizes and bolsters the systems you already have.
It is not efficient or productive to purchase software and overhaul your entire workflow or process. This would mean re-training employees, reconfiguring policy or systems and more.
It can lead to gaps that allow aspects to slip through the cracks. To give a competitive advantage, employing software (whether data tracking, customer services and so on) that compliments and molds to your company is beneficial.
What system does your business have in place to pick, pack, and replenish inventory? All companies have processes to keep these efficient. However, a few aspects give your process a competitive edge.
First is paying close attention to how people or technology moves throughout your warehouse. Are there areas where time (or even product) is lost because the system has not been optimized? Being aware of these pitfalls in your system can help you figure out how to enhance it better, whether changing the layout of your warehouse or designing a new process to address the issue more efficiently.
The second has to do with taking a look at how you track items. Are you losing time looking for items that have already been sold/ not yet replenished? In this case, looking into your inventory system and how it is being used is incredibly useful. This may mean employing different forms of technology to keep up with the demand in tracking.
Another area most overlooked is how we pack deliveries. Most companies that rely on deliveries have a process associated with them, but what really gives a competitive advantage is looking at the most time-efficient packing, shipping and delivering materials.
Businesses that account for how delivery is made can make more deliveries faster than others, resulting in higher product flow and financial gains. Employing a direct process for this allows for less confusion door to door!
The other aspect of deliveries that is important to mention is how product is delivered to retailers vs eCommerce orders.
Companies looking to have a competitive advantage can look at processes that combine these delivery structures, which can streamline into one delivery vs. two trucks going to the same place.
This requires a heavy amount of planning and process, most likely using technology to assist and support. Having an eye on this area of your business ensures that in these challenging times, deliveries are running smoothly and efficiently in these challenging times.
There are several ways specific elements of your business process might add to your competitive advantage over another company.
It's in the nitty-gritty details where we find wisdom and advantage. This, of course, requires a keen eye and the ability to notice how the pieces of the puzzle might fit together in a better, more optimized way.
Perhaps you’re looking for a way to understand how your business might perform more strategically through optimizing these areas? PorterLogic can fill the gap between your existing systems and new tech, so you don’t have to stress.
Our software seamlessly integrates your processes that are already working to enhance and make your warehouses more productive spaces. Book a call or check out our free resources to find out more on how we could support you best.
Enjoyed this article? Here are three more to help you expand: