If you work in energy, you already know that supply chain systems have to be flawless. Demand shifts, prices shift, supply needs to be adjusted all the time. When you’re purchasing or selling energy, what you need to know is exact amounts, prices, and timing of delivery. That means that you’ve got to have access to the data and your supply change management needs to be up-to-date on a day-to-day, even minute-to-minute, basis. So how can your supply chain software pick up the pieces and put them together correctly?
Timing is critical in the energy sector, and that means you’ve got to have access to precise delivery information. Whether on the outbound of inbound side of a delivery, you want to know exactly where your resources are and how long until they arrive. No matter how the delivery is being shipped, you want a track and trace on each shipment.
Compliance and Reporting
With so many regulations in place, it pays to have an integrated compliance and reporting aspect of your supply chain software. Being able to produce reports and analysis on key business data sets straight from your supply chain software should be obvious.
Yes, your finance and accounting systems should be as automated as possible. Most energy customers work consistently with suppliers in long-term partnerships. That means you can set up a system for POs and payments that doesn’t have to be re-invented for each order. ePayables are the most efficient way to accomplish regular and standardized orders and shipment.
Data Management and Collaboration
Your supply chain management system will need to incorporate both data collection and ways to share and work with data about your operations. Working together with energy partners on both sides of transactions can ensure that everyone is satisfied with the relationship. Data collaboration is one way to ensure that you’re all on the same page. If you can integrate your data collaboration system with your supply chain software, you’ll save yourself time, money, and security issues.
While security should be top of the list, it’s important that it is put into perspective after you’ve considered everything else that you need. Creating a secure system that meets your requirements is possible, if you work with the right software company.