Whether you label it a recession or an economic downturn, the simple fact is the U.S. and world economies are in the worst slump in years. And it is affecting everybody.

The essential point is we are in tough economic times that will sooner or later impact your business. The question is, as a supply chain professional, what can you do about it?

Supply Chain innovators are those who are the first to pull various practices together to offer new value to their customers while improving profits. These need not be revolutionary approaches or "first-ever" techniques. Rather, companies that can adopt the five steps discussed below will create greater value for their customers and themselves, and will gain competitive advantage in the marketplace, especially as the economy improves. Click here for more.