Analyst Insight: Optimization. It sounds simple enough, but when was the last time you thoroughly reviewed your supply chain, and more specifically, the transportation network and associated cost structure for complete optimization? Optimization has many spokes, yet the goal is to improve service and reduce costs. For many companies this awareness is event-driven, occurring only when something negatively impacts the supply chain such as congestion at ports or anywhere along the transportation network, supplier issues, or an imbalance in inventory. – John Haber, President & CEO, Spend Management Experts
Analyst Insight: Companies spent over $400bn on external management consultants in 2013 with a majority on strategy development and implementation. This figure shows companies struggle to develop and retain strategy as a skill in the talent toolbox. As a pioneer of process engineering and continuous improvement, supply chain has already proven to be an organization that can break complex problems down into simple, repeatable steps. It's now our turn to do the same with strategy. – Matt Davis, SVP Research at SCM World
Companies today are awash in a sea of data. Each individual link of the supply chain yields bits of information that are critical to meeting customer demand and optimizing business processes. Unfortunately, they are seldom utilized in a holistic manner. Analytics can't deliver their true value unless the data is assembled in meaningful patterns, and embedded deep within the organization.
Product lifecycle management (PLM) is a key lever of profitable growth for organizations that introduce highly engineered, function-rich products. Such products, exemplified by the iPhone, are characterized by complex design engineering and extended supply chains.