Mercado | What is the First Mile in the Supply Chain?

What is the First Mile of the Supply Chain?

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The First Mile of the Supply Chain

Tags:
First Mile, Last Mile, Supply Chain, Global Supply Chain, Import, Communication, Collaboration, Transparency, Visibility, Automation, Predictability, Technology
Dallas-based startup empowers businesses to optimize international trade.
The face of the supply chain is changing dramatically. For the past few years, geopolitical turmoil and shifting consumer priorities have been setting the stage for gradual changes. When the recent global pandemic hit, it shut down practically the entire global supply chain, revealing an industry with not only cracks in it, but giant chasms.

Recent studies have shown a marked shift away from China to countries like Vietnam, Bangladesh, India and Mexico over the last decade. However, the coronavirus has accelerated that action despite the fact that China seems to be entering a period of recovery.

Importers looking to appease the demands of the ‘need it now’ digital-savvy consumers, must rely on an efficient and well-connected logistics structure that helps them to provide a seamless customer experience every time – even in peak periods, when up to a third of deliveries traditionally arrive late or incomplete.

While a flurry of market disruptors have cropped up to focus on the Final Mile – the last stage of delivering product direct to retailers or direct to consumers, be that at home, the office, or a drop-off point or smart locker – few if any are looking at the other end of the spectrum – what we call the First Mile.

What is the First Mile?

The First Mile is typically defined as the first 120 days of the supply chain, where importers have the ability to affect the success of their product and inventory. It’s here that decisions and changes surrounding the size, spec, and manufacturing of products can be addressed – long before they get anywhere near a plane or boat.

Why is the First Mile so critical to supply chain success?

Few importers realize that once their goods are loaded onto a vessel, they have no way to change or manage their products until they arrive at destination. That means they must wait weeks or months before they are able to take the next steps.

"The First Mile is typically defined as the first 120 days of the supply chain, where importers have the ability to affect the success of their product and inventory. It’s here that decisions and changes surrounding the size, spec, and manufacturing of products can be addressed – long before they get anywhere near a plane or boat."

The impact? Importers across industries are having to spend hundreds of thousands of dollars every year on rework to correct mistakes, make changes, or rectify errors that could have been avoided during the First Mile of the supply chain.

How can I optimize the First Mile of my supply chain?

The answer is simple and it starts by looking at how you manage your relationships with those who are involved in the first 120 days of your supply chain.

Three factors are key to the success:

  1. Communication & collaboration
    Successful supply chains focus on connecting and bringing together the people, processes, and tools involved under one roof. Minimizing issues at hand-off, reducing reliance on manual tasks, and focusing efforts on ensuring products meet the needs of your end-consumer. Tools like Mercado’s in-built collaboration tools, video chat, and digitized purchase order can help here.

  2. Transparency & visibility
    Tech-savvy customers, business stakeholders, and internal suppliers today demand transparent supply chains that are socially and regulatory compliant. Offering clear end-to-end visibility of where products are across the importing lifecycle and the status of an order. Mercado provides importers with a single platform that digitally connects the first, middle, and final mile. So you can track, manage, and update your Purchase Orders and keep on top of your product demand.

  3. Automation & Predictability
    Many importers continue to rely on email chains and spreadsheets to manage their Purchase Orders. Optimize your supply chain by digitizing the First Mile thanks to tools like Mercado, providing you with real-time information to ensure all aspects of your supply chain ecosystem are connected and streamlined – from source to store. Making it easy for you to manage your entire product inventory across suppliers and deliver for your customers, every time.
ABOUT MERCADO

At Mercado Labs, we know your product is the lifeblood of your business. And yet managing your imports has become increasingly complex over recent years, with products taking on average 4 months to receive, suppliers located thousands of miles away, and external forces – from trade wars to global pandemics – creating extreme uncertainty. Most of the process is analog and takes far too long. So we wanted to change that.

The Mercado platform helps importers to better manage their orders from source to store. By focusing on the First Mile – the initial 120 days of an order – we help businesses optimize their global trade, eliminating pain and mitigating risk across the supply chain.


Get in touch and find out what Mercado can do for your business.

                     

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From us to you...

Thank you for using Mercado. Our goal is to empower businesses to better navigate the complex world of importing. We know data security is of paramount importance, so we place high standards on ensuring it is safely and respectfully secured. We are committed to following and continuously evolving best practices to support this principle.Your data is yours, and we guard it closely. We do not sell any of your information, and we will always be fully transparent on how we collect and use your data. That's a promise.
Copyright © Mercado Labs
Made with    by studionine.agency
                     

Terms of Service  |  Privacy Policy
From us to you...

Thank you for using Mercado. Our goal is to empower businesses to better navigate the complex world of importing. We know data security is of paramount importance, so we place high standards on ensuring it is safely and respectfully secured. We are committed to following and continuously evolving best practices to support this principle.Your data is yours, and we guard it closely. We do not sell any of your information, and we will always be fully transparent on how we collect and use your data. That's a promise.
Copyright © Mercado Labs
Made with    by studionine.agency
                     

Terms of Service  |  Privacy Policy
From us to you...

Thank you for using Mercado. Our goal is to empower businesses to better navigate the complex world of importing. We know data security is of paramount importance, so we place high standards on ensuring it is safely and respectfully secured. We are committed to following and continuously evolving best practices to support this principle.Your data is yours, and we guard it closely. We do not sell any of your information, and we will always be fully transparent on how we collect and use your data. That's a promise.
Copyright © Mercado Labs
Made with    by studionine.agency
                     

Terms of Service  |  Privacy Policy
From us to you...

Thank you for using Mercado. Our goal is to empower businesses to better navigate the complex world of importing. We know data security is of paramount importance, so we place high standards on ensuring it is safely and respectfully secured. We are committed to following and continuously evolving best practices to support this principle.Your data is yours, and we guard it closely. We do not sell any of your information, and we will always be fully transparent on how we collect and use your data. That's a promise.
Copyright © Mercado Labs
Made with    by studionine.agency