While companies tout the term the use of “best practices,” with the degradation in performance, there is a need to reclassify these not as best practices, but as historical processes that are no longer appropriate. As a result, there is a need to reskill and redesign supply chain processes to improve outcomes. Today, only 9% of companies actively design their supply chains to understand the impact of variability and complexity. As supply chain leaders develop strategies and focus on driving balance sheet improvement, we recommend that supply chain teams consider seven recommendations. Here are 3:
- Build a Guiding Coalition to Drive Improvement Based on Industry-Specific Data.
- Understand the Supply Chain Potential and Orchestrate Trade-offs.
- Make the Supply Chain an Engine for Growth.