7Rs of Logistics & Significance of Records management

The 7 R’s of logistics is the most important concept used in supply chain management. They lay the foundation of all the operations of logistics. These foundations include shipping to purchasing goods for customers. In the end, these 7 R's will help in controlling the flow of products. Also, these rights will help in making the process very cost-effective

The seven Rights of logistics are:

1. Right product

2. Right customer

3. Right condition

4. Right place

5. Right time

6. Right cost

7. Right quantity

Right product

 The basic elements of supply chain management are the products. Companies should know about the product they are manufacturing, handling and transporting and must specify it. Also, working on products with high demand in the market will help to increase the profit. This helps to save a lot of time and resources while working.

Right customer

Knowing the target market is very important for any logistics company. This knowledge may help to deliver the right products to the people and can earn their trust. In this modern world, getting to know the right customers is never a hassle. With the use of digital means, you can easily get the details about the customers and their changing desires. When compared to the traditional method, digital marketing methods are very accurate and feasible. 

Right condition

No customer wants to receive a faulty product. Companies should take extra care in delivering the products in the best condition. To do this, you should have a well-equipped storage facility and safe transportation facility. Good quality packaging is another factor that is important here. Delivery people also must be cautious while handling the products.

Right place

Right products delivered to the right place mark the success of a logistics company. The company should ensure that it has efficient delivery people who are fully acquainted with the delivery guidelines. They must also have the right skills for it. You can also have a robust tracking mechanism to ensure the working of the same.

Right time

Time management is a crucial factor in the working of supply chain management. Delivering the products at the right time is the key to success in this industry. Customers tend to keep a long relationship with the companies which deliver things at the right time.

Right cost

While doing the pricing, make sure you are not going on with a reasonable pricing system. Analyse the industry dynamics and apply them to it. Keeping a record of prices are checking it periodically will be an added advantage in the area.

Right quantity

With the advancement of technology, it is easy to determine the correct quantity. Using this and delivering the right quantity is very important in determining the success of a logistics company. 

But to keep these 7 R’s in line, the company must follow a decent record management system. It can improve efficiency, traceability and ensuring regulatory compliance. Record management allows companies to keep the right track of a delivery, adding to the success. They are significant in controlling the growth of records by cutting down the number of copies made and by limiting unnecessary files. After the time, disposing of the data is also crucial, as this will help in mitigating the confusion. If unnecessary files are kept, it will become a barricade in delivering products correctly. Keeping sensitive information, keeping the employees motivated to do their best work, saving time while working, etc., are other benefits of record management. In a nutshell, the company must have well-established record management to follow the 7’s of logistics, which is the fundamental element in keeping a logistics company alive.  

Consult now with Kayman to implement a robust records and information management system in your business.

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