The challenges before industry are many more so specific to Supply chain. Formulation companies need to manage multiple vendors who supply APIs, Intermediates, Packing material, Compliance to statutory requirement like Excise duty, sales tax, VAT, Production Planning and monitoring of Contract or Loan Licensee manufacturing, Distribution of finished goods either through own depots, Branches, C&F agents, Super stockiest and/or combination some of these.

The critical success factor is how to use every resource optimally and meet the business objectives. Some of the objectives include.

• Availability of the right product in the right place at the right time
• Territory wise profitability
• Tracking sales at the point of sales
• Tracking goods at the point of sales
• Tacking and Minimizing Returnable products
  • Breakages
  • Damages
  • Expiries
• Product Shelf Life Management
• Batch tracking
• On-Line inventory at the depots / consignee agents premises
• Efficient Credit Management
• Improving the cash cycles
• Management of samples
• Management of gifts
• Management of sales force productivity
• Managing new product launches
• Monitoring competitor product performance

These are the challenges faced by companies who sell their products at retail counters. Considering that the products have to be distributed and sold in widely dispersed geographies. With tens of consignee agents, hundreds of stockiest and thousands of retailers handling and stocking the products, the management of sales becomes highly complex and the challenges increase multi fold. Profitability can get affected with even small fluctuations / variations in any of the aspects in the supply chain viz forecasting, demand planning, supply logistics, sales force efficiency. Monitoring and managing every aspect of the supply chain to overcome the challenges and improve profitability and growth is the imperative for companies in this line of business.

How Does SpectraSoft Add Value:

SpectraSoft understands every aspect of the complexities and nuances in the supply chain of retail goods. With specialists who have managed the supply chain bringing in their expertise coupled with business processes and solutions specifically designed to address the challenges of the industry, SpectraSoft can help companies improve their top and bottom lines.