This is a high level view of the top supply chain strategies people should know.
- Demand-driven supply chain: This strategy focuses on meeting customer demand, rather than pushing products through the supply chain. It involves using data and analytics to forecast demand and plan accordingly.
- Agile supply chain: This strategy focuses on flexibility and responsiveness to changes in demand or market conditions. It involves having a variety of suppliers and transportation options, and being able to quickly scale production up or down.
- Collaborative supply chain: This strategy involves working closely with suppliers, customers, and other partners to improve efficiency, reduce costs, and increase customer satisfaction. It involves sharing information and resources, and working together to solve problems.
- Visible and transparent supply chain: This strategy involves having the ability to track goods and materials throughout the supply chain, from raw materials to finished products. This is essential for identifying and mitigating risks, ensuring compliance with regulations, and meeting customer expectations.
- Sustainable supply chain: This strategy involves integrating environmental, social, and governance (ESG) factors into supply chain management. This includes reducing the carbon footprint of the supply chain, using sustainable materials, and ensuring ethical labor practices.
In addition to these top strategies, there are a number of other emerging trends that are shaping the future of supply chain management, such as:
- The use of digital technologies: Digital technologies such as artificial intelligence (AI), machine learning (ML), and the Internet of Things (IoT) are being used to improve the efficiency and effectiveness of the supply chain in a number of ways. For example, AI can be used to forecast demand, optimize inventory levels, and make better decisions about transportation and logistics.
- The rise of e-commerce: E-commerce is driving a shift to more agile and responsive supply chains that can meet the needs of consumers who expect fast and reliable delivery.
- The globalization of supply chains: Supply chains are becoming increasingly globalized, which means that companies need to be able to manage complex relationships with suppliers and customers located all over the world.
By understanding and implementing these top strategies and trends, businesses can improve their supply chain performance and gain a competitive advantage in the global marketplace.
Supply Chain Quotes
- “You can have any car that you want as long as it’s black.” ~Henry Ford
- “85% of the reasons for failure to meet customer expectations are related to deficiencies in system and processes…rather than the employee.” ~W. Edward Deming
- “Supply Chain is like nature, it is all around us.” ~Dave Waters
- “You will not find it difficult to prove that battles, campaigns, and even wars have been won or lost primarily because of logistics.” ~General Dwight D. Eisenhower
- “The Business Schools reward complex behaviours more than the simple behaviours, but simple behaviour is more effective.” ~Warren Buffett
- “Whenever we think we have final answers then progress, science, and better understanding ceases.” ~Eliyahu M. Goldratt, The Goal
- “Without logistics the world stops.” ~Dave Waters
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- Source: https://www.supplychaintoday.com/top-supply-chain-strategies-to-know/
