Small businesses account for at least 99% of the businesses in every main industry sector, and the significance of the strong exporting culture among this vital group cannot be underestimated.
The exporting activity of small and medium-sized enterprises (SMEs) had a positive impact on the UK’s trade deficit in 2015, with globally-active SMEs each contributing an average net benefit of over £300,000 according to a FedEx report from 2015. With such sizeable trade volumes, now, more than ever, businesses need to ensure that their supply chains are as lean as possible to maximise profit margins and operational efficiency.
The importance of smooth and efficient supply chains cannot be understated. In an increasingly connected world, UK SMEs are doing business in every corner of the world and with this comes a need for local-level knowledge and understanding to ensure efficiency.
With that in mind, we have identified six strategies to help ensure supply chain efficiency:
- Review your supply chain
- Find the right logistics provider for you
- Pay special attention to customs rules and regulation
- Increase supply chain visibility
- Integrate closely into wider business
- Constant communication
By David Poole, managing director of sales, UK South, at FedEx Express