Buy-in and cooperation from internal stakeholders "within the four walls" is no longer sufficient. You need tier 1 and sub-tier supplier collaboration and trust to manage supply chain risk and build end-to-end supply chain resiliency.
Like many of their larger competitors, today's mid-market companies are beginning to focus on expanding their footprint. The economy is strengthening in a number of areas and based on recent indicators, confidence is increasing as well. One of the challenges, however, is that while the basic fundamentals of responsible business growth haven't changed, the landscape for technology and supply chain solutions has shifted remarkably since the manufacturing sector downturn in 2008-2009.
Supply chain execution convergence is a hot topic these days. The need for end-to-end visibility and solutions that proactively enable planning and the ability to react to the unavoidable disruptions is paramount. Organizations need to evaluate their overall supply chain approach and to consider how supply chain execution convergence can get them to the next level.
Analyst Insight: The term "supply chain visibility" is bandied about, but it lacks a consistent definition. There are many forms of visibility and companies use the term with many different definitions. The first step is getting clear on the definition, and the second is gaining clarity on the technology options. While most companies have made progress in supply chain visibility within the four walls of the enterprise, today, supply chain visibility in the extended supply chain is still in its infancy. – Lora Cecere, Founder of Supply Chain Insights
Analyst Insight: Alignment is the positioning of parts so they are in their proper position to run correctly – as in car parts. Alignment is also the ability to optimize the business results by aligning people, programs and business processes. According to Supply Chain Insights, Alignment continues to be one of the top three supply chain business initiatives in 2015. – Mickey North Rizza, VP Strategic Services, BravoSolution
Research suggests that 83 percent of global private label supply chain executives say supply chain transparency impacts productivity and overall consumer confidence. However, it also found that 43 percent of organizations are still using offline methods, like Excel documents and the telephone, to communicate with supply chain partners.
Collaboration among private-label partners has never been more important, and recent research suggests that in addition to improving organization, communication, safety and compliance, better collaboration among private-label stakeholders can also lead to improved production and cost efficiencies.
Increasingly, the supply chain and procurement departments are turning to digital solutions, rather than traditional manual systems, to maximize results. Recent research points to a substantial potential upside.