Tax professionals have long been left out of supply chain management discussions, but tax is one of the biggest costs within a supply chain system.
As businesses increasingly look to optimize their overall operations, CPAs accountants and tax professionals should consider tackling supply chain management with their clients. One of the top ways to address these issues, and increase overall efficiency, is quantitative supply chain optimization (QSCO).
QSCO is where new technology capabilities meets keen business strategy to improve an often-antiquated part of businesses: supply chain management. A quantitative supply chain (QSC) helps business owners establish, measure and optimize supply chain metrics to quantify decisions.
Such metrics enable business owners to establish the return on investment (ROI) of the supply chain initiative. The QSCO approach helps mid-to-large-sized companies improve their quality of service, reduce excess stocks and write-offs, boost productivity, lower purchase prices and operating costs, and improve overall efficiency.
While supply chain challenges may vary depending on the sector, this approach to supply chain management is applicable across all industries. Read on to see what your clients would need to do to institute QSCO for their businesses.
Data-and-Human-Driven Supply Chain Management
QSCO marries human insights with data processing and analysis. This approach allows businesses to optimize the decision making process for supply chain management.