In today’s demanding supply chain environment, small and medium-sized enterprises (SMEs) are facing unprecedented supply chain challenges much like larger companies, and as a result, have been investing in their own fleets due to the lack of equipment available in the marketplace. Equipment scarcity as well as the struggle to keep up with technology are fast becoming the key underlying obstacles affecting SMEs to maintain their competitive advantage in today’s bottlenecked supply chain reality.
The growing importance of technology for competitive advantage
Moreover, SMEs typically rely on modest IT budgets, making it even tougher to apply technology to gain efficiencies and supply chain cost savings. They are less able to upgrade capabilities frequently or invest in expensive processes, even though to do so could save significant sums of money over the longer term.
As time goes on, SMEs will require ever more access to technology services and solutions, as the rise of importance of the smaller enterprise has become ever more vital. Innovative asset management technology platforms help fleet managers optimize their assets, control costs, manage maintenance and repair and reduce administration costs. These types of technology solutions are emerging as a source of supply chain competitive advantage.
Meanwhile, efficient asset management will provide the opportunity for SMEs and larger companies to outsource many back-office activities, enabling internal resources to be redirected to value-adding processes, including supply chain management. In fact, these services offer the possibility for SMEs to reduce labor costs and the human capital necessary to manage their supply chain operations.
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Never-ending equipment scarcity
With no end in sight with the current supply chain crunch, many SMEs are realizing that equipment availability is becoming a long-term issue; they have been investing into their own fleets but have not been able to add. With finite assets in play, how can they ensure that their assets are optimized, fully utilized and properly maintained in an ongoing basis? Most assuredly, the supply chain challenges for SMEs will be tamed by technology.
Learn more about how SMEs can fully compete with larger companies and optimize their supply chain operations. Find out how asset management technology solutions can help meet today’s supply chain challenges and prime them for the future.
Technology can ensure proper maintenance and optimization of critical supply chain assets such as fleet equipment. This is especially relevant as there are real challenges to augmenting fleet assets as well as even replacing existing fleet.
For businesses of all sizes but especially SMEs, choosing the right asset management technology can help resolve supply chain fluidity concerns -- now and into the future.