The arrival of an interconnected global marketplace on internet time means value chains are rapidly replacing supply chains, according to s new report from the National Association of Manufacturers and the Manufacturing Institute. This switch requires business owners to think well beyond traditional supply chain arrangements in terms of greater levels of collaboration with both suppliers and customers. It also requires employees with skills far superior to their predecessors and a world outlook framed by these new realities.
Owners and managers of small and medium-sized manufacturing companies are often so focused on day-to-day operations they forget to look at the bigger picture and how their companies might profit from global shifts, the report says. But SMMs--like all manufacturers--must look beyond their traditional geographic and market niches and beyond the borders of traditional U.S. markets. To do that successfully requires building an organization with the capability to succeed anywhere, and this is the essence of the value chain success strategy.
Source: CRM Buyer, http://crmbuyer.com