Running a printing business can be challenging, especially at the moment. With so many people tightening their belts, every penny counts, and you can’t rely on new business to fill any gaps in your order book.
If you take a close look at what you are doing already, however, you might find some areas where a few simple tweaks can make a lot of difference to your bottom line. If you don’t know where to start, you can concentrate your efforts on one key area, and you should be able to see some positive results regardless of the size of your business.
Why is your supply chain so important?
You need to start here because, quite simply, if you do not have an efficient supply chain, you do not have an efficient business. This is important because everything that comes into your business relies on that supply chain, and even the smallest errors can lead to some bigger problems down the line if you haven’t noticed them already, some bigger problems down the line.
Although you might not know how to measure the efficiency of your business, there will be tell-tale signs if your supply chain is not working well.
- You could run out of key items when you need them most, which can mean you have staff standing around doing nothing and machines sitting idle when they should be running. Not only are you paying wages and overheads in this situation, but you are risking not meeting customer deadlines, which can affect your relationship with that client and damage your reputation.
- An inefficient supply chain can also mean the opposite happens, and it can leave you with money tied up in materials like inks and papers when it matters most. This will obviously affect your cash flow and can mean you cannot undertake any additional jobs because you do not have the funds to buy additional materials for that work.
How do you optimize your supply chain?
If you regularly have problems of this type or have had some ‘near misses’ recently, then your supply chain could do with some attention. You need to make only a few small changes; alternatively, you might have to overhaul the entire process. Either way, you will need to have a plan in place to make it all work.
This can be easier said than done, and there are many factors that contribute to making your supply chain more efficient. These are outlined in articles like this one on 7 Ways To Optimise Print Supply Chain Management, which can provide you with an important insight into boosting your existing processes and, just as importantly, save you money.
A few final thoughts
If your supply chain is failing, then so is your business. If this is happening, you need to take action and have the right information to make the right changes. With the right information at your fingertips, you will know if you need to change your relationship with your suppliers, your ordering program quality, and sustainability. Once this blueprint is in place, you can progress toward a more efficient and profitable printing business.