Executive Briefings

You're Growing, But Are Your Suppliers Growing With You?

As the globalization, expansion and growing interconnectivity of supply chains make them more complex, businesses and their suppliers are faced with new challenges, with new opportunities for growth. Many top companies invest a vast amount of resources in innovation. This commitment to innovation drives growth as they compete to remain top manufacturers and service providers. However, many of these top companies are not reaching their full potential. Their businesses are innovating, growing, and developing, but many of their suppliers are not.

You're Growing, But Are Your Suppliers Growing With You?

Whether it is due to lack of resources, lack of skill sets or lack of knowledge, many suppliers are unable to keep pace with the businesses that rely upon them. The technical/industry knowledge, operational practices and skills that are fostered and developed within many businesses are not shared with or fostered and developed in their suppliers.

This compartmentalization of knowledge that has helped many businesses thrive and separate themselves from the competition also limits their ability to optimize their operations. Knowledge-sharing is perceived to be a risk that threatens competitive advantage rather than an opportunity to improve competitive advantage.

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Whether it is due to lack of resources, lack of skill sets or lack of knowledge, many suppliers are unable to keep pace with the businesses that rely upon them. The technical/industry knowledge, operational practices and skills that are fostered and developed within many businesses are not shared with or fostered and developed in their suppliers.

This compartmentalization of knowledge that has helped many businesses thrive and separate themselves from the competition also limits their ability to optimize their operations. Knowledge-sharing is perceived to be a risk that threatens competitive advantage rather than an opportunity to improve competitive advantage.

Read Full Article

You're Growing, But Are Your Suppliers Growing With You?