Supply Chain
We are living in unprecedented times with significant business disruptions in the global world, focus on sustainability and fast paced changes in the marketplace. All of this translates into significant pressure on the organization’s supply chains.
In a survey conducted by a leading consulting firm, CEOs see supply chain disruptions as their greatest challenge to growth. In the Q3 2021 Earning calls the word Supply Chain was mentioned 420% more than in the previous quarter. While there continues to be the pressure on the core supply chain issue of balancing Service & Cost, the focus has also shifted to Resilience and Agility in the Supply Chain to Managing Risk and Ensuring Business Continuity through alternate sources of Supply, Manufacturing, and Delivery.
The core challenges on Service and Cost are also amplified by the changing landscape in the competitive environment and the fast-paced changes induced by Digitalization. The competitive environment puts pressure on Service Levels, Smaller Lot Sizes and Frequent Replenishment. The digital revolution is accelerated by AI/ML and Advanced Analytics to have more real time visibility through Process Automation.
In summary, the Supply Chain leaders of today need to not only manage the tight balance on Service & Cost today but also Anticipate and Plan for the future, as outlined in the table below.
- Meeting Customer Expectation; Different Channels
- Smaller Lot Sizes; Frequent Deliveries
- Shortened Product Life Cycle Times
- Paranoid Focus on Eliminating Waste
- Dialing Up Operating Efficiencies
- Rewire Business Process to Improve Margins
- Planning & Executing the Digitization Roadmap
- Risk Management Framework
- Managing the Human Factor