When your supply chain breaks, you lose revenue, market share, shareholder value and the integrity of the brand – damage against which you cannot insure. Given such financial stakes, here are 9 criteria you should consider to make your supply chain resilient.
As more companies become increasingly customer-centric, creating a seamless end-to-end supply chain has become a vital component of the complete customer funnel. This allows organizations to optimize where, when and how they source material to fit the needs of the customer as well as the goals of the business.
Globalization offers countless opportunities for companies to expand market share, and increase revenues and profits. But for businesses to operate seamlessly across borders, it’s critical their supply chains experience no disruptions.
For decades, the relationship between American companies and China was relatively uncomplicated: The world’s most populous country served as the best base for low-cost manufacturing of goods for the U.S. market and as a rising market for American products ranging from commodities to smartphones and other consumer goods. But this relationship has been changing rapidly, and growing more complex by the day.
The West Coast ports slowdown may be over for now, but it wreaked enough havoc to give CEOs from the Pacific to the Atlantic pause. And many are concluding that it’s time to take a closer look at their supply chains.
One of the last major business successes of 2014 was how America’s biggest parcel shippers, UPS and FedEx, returned to form and made sure nearly all of their express packages were delivered across the United States by Christmas, after failing miserably at that task the year before.
“Made in the USA” is a hot pursuit for manufacturing CEOs these days. By 2015, the Boston Consulting Group predicts that cost advantages over parts of Asia and Europe will drive more companies back to the U.S. generating as many as 5 million manufacturing jobs by the end of the decade.
The University of Tennessee set out to research some of the world’s most successful strategic partnerships—including those at P&G, McDonald’s and Microsoft—to see how and why these relationships added value. The research identified five principles that CEOs everywhere can use to transform supplier relationships.
Supply chain management is no longer just about reducing costs.
What if you could bring the discipline and precision of process, structure and metrics to the demand side of your business in the same way you use them on the supply side of your business? And, what if the results continuously increased revenues, margins, and profits?