As they say, “knowledge is power,” and in the case of supply chain collaboration, information exchange results in improved understanding throughout the chain, enabling you to achieve: Shorter lead times, improved customer service metrics, visibility into customer demand and supplier performance, earlier and quicker decision-making.
Businesses shouldn’t conduct their operations without teamwork and effective supply chain strategies. An organization can only successfully traverse changing marketplaces and meet customer expectations when this plan is in place. The Holy Bible highlighted this important idea in Luke 14:28–29 when He asked, “For which of you, intending to build a structure, sitteth not down first, and counteth the expense, if he have wherewithal to finish it? Lest everyone who sees it start to make fun of him after he has started building it but is unable to finish it”.
When everyone within your company is aware of your overarching plan and how it affects them, things go better. In order to keep everyone informed, coordinate plans, reduce interruption, manage risk, and improve communication across your organization, all significant stakeholders should take part and share plans and data. Assign KPIs and strategic objectives to specific individuals to ensure that they are held accountable for not completing their tasks.
These supply chain strategic execution template gives every employee the ability to consistently improve performance and maximizing productivity with the least amount of lost time or expense.
A supply chain strategy should also specifies which department is in charge of each supply chain activity, the circumstances under which cooperation is required, the timing of the various operations, and the metrics by which performance is evaluated.
The aims of the business should be clearly reflected in the supply chain strategy, which should also combine the numerous supply chain activities and advance the entire supply chain. A framework for your industry is an excellent place to start. When you improve your clarity, you will also improve your customer retention and it will lead to improve marketing output.
Each of the major supply chain functions performed by blue-chip businesses has a distinct supply chain strategy. For example, they would have distinct strategies for make-to-stock, make-to-order, or engineer-to-order manufacturing, as well as different plans for just-in-time and just-in-case inventory management. Companies of all sizes can use a range of supply chain tactics to promote development and expansion.
At the strategic collaboration level, you and your partners should engage in joint planning, process redesign, and some degree of risk and reward sharing. Making decisions together will involve deciding things like: Increasing forecast accuracy, enhancing critical supply chain partnerships and profitability, improving sales and operational planning, Accelerating and controlling demand plans, direct material purchase, and fulfillment across the supply chain, pricing strategies
Never lose sight of your big-picture goals. Customer expansion and retention should be taken into account in all decision-making, regardless of the performance management system your company employs.
By James A. Adeyemi -MBA, CIPS, MIAPM, FCILSCM. adeyemijames19@gmail.com
