Opportunity Description
Conquering Supply Complexity of any system refers to the
Chain Complexity number and variety of elements it
consists of connections between the
elements and the dynamics between
them. The elements of a company’s
supply chain are the products/services,
suppliers, customers, and the company’s
own network of operational nodes.
Wrangling Data The recent developments in information
technology have placed a great deal of
data at the hands of companies. Each
interaction, transaction and update that
takes place in any part of the supply chain
generates data.
Deploying Supply Data analytics is the essential to translate
Chain Analytics Big Data into value. Data analytics is the
science of examining raw data to help
draw conclusions from this information.
Developing Supply It is no secret that companies with
Chain Talent exceptional supply chain performance
also achieve superior financial
performance.
Robots and Robots have long played a role in the
automation supply chain, used to move goods and
materials throughout a warehouse,
during transport, and as part of the
fulfillment process.
Recommendation
In overall performance, you can
see improvements, improved
customer service levels and
reduced costs. Lead time/cycle
time reduction, reduced inventory,
improved forecast accuracy.
Improved capacity utilization.
Reduced time to market.
Organizations that are good at
using their data will win in driving
big data opportunities and will
have the edge over their
competitors in managing their
supply chain.
This capability can also be applied
to supply chain management, but it
is still very much at the infant stage
for many companies and will take
years to mature. Companies can
use advanced analytical and
mathematical techniques, such as
data visualization, simulation,
optimization, and statistical
analysis, to improve the company’s
performance and profitability.
While it is easy to fill a role in
supply chain, such as a Buyer, it is
very difficult to find a professional
who understands the supply chain,
which touches across almost every
aspect of the business.
improve the precision and mobility
of industrial robots while aiding in
safety, allowing for a new
generation of robots (collaborative
robots) that can work alongside
humans as opposed to being
cordoned off in a separate safety
zone.
Challenge Description
Customer Service Customer service remains the
center of supply chain
management. It is all about
providing the right quantity of
the right product, to the right
place and at the right time.
Cost Control Rising energy/fuel and freight
costs, a greater number of
global customers, new
technology, increasing labor
rates, new regulations, and
rising commodity prices mean
that operating costs are under
extreme
Planning & Risk Changes in the market, like new
Management product launches, global
sourcing, political agendas,
credit availability, and
consumer demand, can give rise
to major issues, and these
changes can come from almost
any direction.
Supplier/Partner It's important to create,
Relationship understand, and follow
Management mutually agreed-upon
standards. This allows you to
better understand current
performance, as well as
opportunities for improvement.
Talent It's becoming increasingly
difficult to find qualified,
interested talent. Supply chain
leaders need an extensive
understanding of the key
competencies and duties
needed for supply chain
management roles.
Recommendation
Every customer has different needs. We
no longer live in a world of cookie-cutter
products and services. We live in an era of
consumer customization. With these
advancements, good customer service
depends on information. The companies
that excel in customer service are the ones
that embrace and invest in these new
technologies.
The answer isn't just technology, of course.
The key to improving cost control is
business intelligence, and it's not
necessarily about data analytics. It's about
using the information at your disposal to
make the soundest possible judgments.
More than anything else, improving cost
control is about having a plan and
executing it properly. You carefully monitor
your original plan and adjust as needed,
which leads us to our next challenge and
solution.
These risks must be identified and
quantified to control and mitigate them.
Creating a risk management plan for how
your company will handle and overcome
possible major disruptions to its supply
chain will allow your operations to bounce
back in no time.
The importance of supplier/buyer
relationship is growing. You should aim to
build a strong working relationship.
Communication and visibility are the key to
maintaining a healthy relationship between
buyer and supplier.
This tactic looks cost-effective on the front-
end on paper, but the impact is large and
overarching, especially when it comes to
costs. Quality talent wins over quantity,
and you may have to pay above market
price to attract the talent that you need. It
costs companies more, but it's worth it in
the long run.