What is the key to managing an effective supply chain?
Communication plays a huge part in managing an effective supply chain. If communication breaks down, functional teams can often have competing priorities. The result can be poor inventory control or ordering, lost sales or clients, and poor cash flow.. Maintaining good communication is key in ensuring that the supply chain stays aligned to support the business strategy. Understanding the pressures and processes encountered by the teams that work in S&OP, Demand Planning and Forecasting enables all to understand the challenges and face them together.
Good communication means that your supply chain and product-development functions can find ways to create innovative products and services that suit the needs of all customer groups while keeping overall costs under control.
What are the most common mistakes made when identifying new suppliers?
Some of the most common mistakes made are not understanding contracts and the terms and conditions that come with them. Although these may seem like minor details at the time, they can wipe thousands off the bottom line on major projects a and have a huge impact on the supply chain.
What is the biggest danger of not supporting the business strategy with an effective supply chain?
Communication breaks down and the supply chain breaks down with it. Whether the strategy of your business is offering customers a superior service, a better product or reduced cost, ensure your supply chain is helping to deliver the key points of that strategy.
How can construction companies innovate to improve the efficiency of their supply chains?
Change is constant and you cannot afford to keep still. The times of managing the supply chain in separate tiers is over. Sophisticated data analysis enables companies to manage supply chains end to end and, in industries such as retail, almost in real time. Appoint a single leader with responsibility for end-to-end performance and for delivering improvement projects across tiers and traditional functions such as marketing, manufacturing, and procurement. Make sure your supply chain organisation combines operational excellence with strong analytical capabilities and data driven, cross-functional decision making. Create analytical teams to support decision making and identify hidden risks and opportunities in unstructured data. Ensure your IT function is supporting them with nimble applications and platforms that enable collaboration and analytical decision making. And do some well invested training courses to keep up to date with the latest research and thought leadership!
What are the risks of innovating?
As part of any innovation process, you need to understand, evaluate and manage risk. Risks can include:
- operational – e.g. failing to meet your quality, cost or scheduling requirements
- commercial – e.g. failing to attract enough customers
- financial – e.g. investing in unsuccessful innovation projects
Supply changes cannot compete without constantly innovating. We need to keep learning new ways of becoming more efficient.
You’ll be speaking about “Steps to Achieve Effective Supply Chain Management” in the construction supply chain at North England Build, but how can events like this support these aims?
The Supply Chain should be core to a Business Strategy.
Supply chains are rarely aligned to support the business strategy. Functional teams often have competing priorities, of supply and demand.
This seminar will look at three ways organisations can improve their supply chain to:
- Improve capability quickly by looking at why effective Supply chain management must be incorporated into your business strategy
- Think about how to adapt to become confident of supply chain success
- Develop ideas to overcome change
These events help bring awareness to the latest thinking to help the sector become more efficient. If supply chains are more efficient, there is a natural increase in customer satisfaction and hence more profit for the business.