An Israel-based national chain, Jumbo Stock, now operates through its digital platform and serves its customers who buy products online. Roy Vanono, Founder and CEO of Jumbo Stock devises new ways to ensure the seamless transaction of its online deliveries without making its customers incur extra costs.
Efficient supply chain process for a successful business
The cost management function is vital to keep a company in business. Both supplier-facing and customer-facing resources within the company are responsible for reviewing cost-benefit analysis and determine what is best for their companies. Roy Vanono is the owner of a national chain of affordable home products brand – Jumbo Stock. Jumbo Stock offers a very wide range of quality products and design at affordable prices, in different categories for the whole family. Roy Vanono supervised the design and experience of the website and launched it in 2019. Who knew that the world will be grappled by a deadly virus and the website will be the sole savior during these unprecedented times? Roy spends time with his team of logistics partners and suppliers to find ingenious ways to save the company, customers, money on supply chains without sacrificing service. When management promises certain price points to their customers, the teams find innovative methods to help them meet those points. Roy Vanono shares some of the best practices to optimize costs in the entire supply chain so that customers do not have to pay extra for goods being delivered at their doorsteps.
Four ways to reduce costs in supply chain operations
To reduce costs, it is essential to remove bottlenecks in the supply chain. If employees are manually undertaking operations, it is important to perform due diligence to understand if those tasks could be automated to increase efficiency.
A business where customer satisfaction is in the hands of delivery service providers, it is pertinent to have more than one option in mind. In case, the top pick goes out of business or is unable to execute a delivery due to business emergency, the next pick can come handy and save much reputation costs which ultimately translates into revenue.
One of the best supply chain improvement strategies is forecasting sales. This serves in two ways. It prevents the shortage of products as well as overstocking when demand is low. Companies look at historical data, sales trends, marketing efforts, and the threat of competition to forecast the future.
It is wise to perform a cost-to-serve analysis that looks at costs related to your business’ overhead, customer service, planning, logistics, and many other factors. Additionally, it is essential to keep an account of outgoing shipments, incoming deliveries, and overall sales and do a pattern analysis that can help identify the inefficiencies in the end to end process.
Roy Vanono envisions that its national chain should allow its customers to design their homes the way they want it, with quality and unique products at great prices. “Therefore, we work hard to find the best suppliers in the world and the most prominent trends in the market. We increase the variety of new products without intermediation gaps at the best prices so that our customers receive the cost-benefit and product differentiation” says Roy Vanono.
Roy Vanono is the mastermind between the beautiful and chic Israeli homes that adorn every corner with affordable, useful, and modern products.