focus areas in supply chain management

Published by on November 13, 2020

The organization should use innovative approach & use latest optimum latest technology to perform the process. Supply Chain 4 Me's goal is to connect students, supply chain professionals and companies. Required fields are marked *. Adaptive strategic planning is an always-on activity to navigate and succeed through any turn, in any version of the future.”. For the smaller business, with a management team that has to juggle multiple areas of responsibility, it’s even easier to inadvertently neglect, overdo or omit certain aspects of supply chain management—or just get them plain wrong. It takes endurance and resilience to sustain recovery over a longer period, where safety, well-being, fatigue and burn-out are major issues for supply chain teams. “This next phase will demand another set of skills from leaders. Navigation. When it comes to supply chains, it’s what’s good for the customer that counts not what’s good for the nucleus company or even what seems to be good for the supply chain itself Supply chain management … In order to analyze the industry-specific drivers and obstacles, we would recommend to start with above 5 areas and identify the basic opportunities to begin your journey. Gartner identifies three areas for supply chain adaptability focus Analysts discussed the challenges and opportunities of uncertain times for supply chain leaders at Gartner virtual event By … You can also subscribe without commenting. Hi Faisal, I agree with the change management part. Manufacturing will always play a key role in the US economy as many products will always  be produced here. They will need to balance their leadership style and develop skills as a master communicator to empower change and adaptability within the supply chain organization,” Mr. Enright concluded. Adaptive Strategy It helps if you have a crystal ball, but since few people do, the art and science of forecasting what people will buy, or what components you will need, or what trends will impact the sales of your product is left to those who can analyze and interpret data effectively. This function is sometimes the only point of contact a customer has with a customer so its imperative that they have the skills and knowledge to understand a customers needs..and to meet those needs when possible. This means that the strategy might be outdated in the case of a disruption during the year and there are no resources available to reevaluate the new situation and pivot quickly. Remember that over time, your company’s business strategy may change, and external forces may also steer your supply chain plan in a new direction. The challenge for organizations is to manage these challenges in above mentioned 5 areas of business and think how sustainability will be integrated into the supply chain processes. Inventory Management: Activities employed in maintaining the optimum number or amount of each inventory item. Does your company have true supply chain visibility? Some of the leading companies in the world are intensively investing in Sustainable supplier relationship management practices in order to manage sustainability even beyond their corporate boundaries. From food to cars, companies will continue to manufacture in the US because of the  skilled workforce and natural resources available. 6 Areas to Focus on For Supply Chain Innovation Process. Value – The supply chain strategy should identify suppliers who will assist us in achieving our future goals through collaboration and providing a means of growing our mutual businesses through sharing of ideas, capabilities and capacity. According to Gartner research, 80% of companies still base their strategic planning cycles on an annual calendar. As the economy becomes more global, the opportunities become even more exciting. For example, the challenges belong to Automotive industry to achieve sustainable supply chain is very different from the food industry. The CMTC Manufacturing blog recommends the following five critical areas that require management attention to achieve an optimized high performing supply chain: 1. Physical inventory is often one of the most signification assets of a company, and without it, a company would have no sales. If so, you actually have some golden opportunities to improve your business performance by creating a stronger supply chain. Masters in Supply Chain Management – Top 6 Universities in the U.K. 18 Targeted Inventory Reduction Strategies for Supply Chain Professionals, Smart Technologies and the Digital Factory, Sustainable Development and Corporate Social Responsibility. The Global Leader in Procurement and Supply Chain Management 1015 Riley Street, #104, Folsom, CA 95763 1-888-826-4889. They must focus on those trends that will impact their business and present opportunities to grow and gain an advantage over competitors,” Mr. Enright said. Gartner’s 16th annual global Supply Chain Top 25 exhibited adaptability and resiliency, especially during times of disruption…, Gartner identifies three areas for supply chain adaptability focus. Modes of transport include air, rail, road, water, cable, pipeline and space. These roles can exist at a field location such as a plant or at a corporate location. Home; Certification; About. Find out why Omid Ghamami has been called “The Rockstar of Purchasing and Procurement Consultants”, “A Purchasing Organization Turnaround Master”, and “The Secret Weapon of Fortune 500 Chief Purchasing Officers”. Despite this, there are still many job opportunities available. You don’t necessarily need access to real-time data from one end of the supply chain to the other, but you do need to know the points where visibility adds value and to apply solutions at those points. The manufacturing function has received a lot of notice in the press as companies move various production operations overseers. }); Sustainability in any business line comes with successful change management. Become a PLUS+ subscriber and you’ll get full access to all Supply Chain Management Review premium content! Our records show that you are currently receiving a free subscription to Supply Chain Management Review magazine, or your subscription has expired. Environmental deterioration, growing concerns regarding climate change, and changing governmental rules and regulations introducing relatively new concepts is now a common industry challenge to archive sustainable supply chain management. Investopedia.com. The Coronavirus pandemic has highlighted the hazards of underestimating supplier risk and not putting enough effort into forging solid partnerships with suppliers. You might wish to consider adding a supplier or two, even if you have them fill only a small percentage of your key material or component demand. Do any of the points in this post resonate? Supply chain leaders can allocate blocks of funds to several initiatives. Process design should be producing as less waste as possible which will take care of Environment as well Profit aspect of sustainability. Companies operating in silos have been shown to be inefficient and prone to duplications of effort. Single sourcing is a supply chain trend which can easily lead to mistakes for small and medium-sized businesses, especially if it’s chosen as a strategy without regard to the potential risks.

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