The foundations of any Digital Supply Chain is the real time, end-to-end electronic connectivity of every node and aspect of your Supply Chain. Unless your company is entirely self-sufficient this connectivity requires extensive and exhaustive Supplier Onboarding.
And this onboarding is not restricted to the first tier suppliers with whom you have direct contact. You must connect with second, third, and fourth tier suppliers, many of which you will often never have even heard of before.
And that is an enormous challenge, to say the very least.
The Coronavirus Pandemic has quickly and severely disrupted Supply Chains of every kind around the world. Lockdowns have resulted in the temporary closure of Manufacturing and Distribution facilities and discontinuation of Logistics and transportation modes.
Additionally dramatically higher demand for household supplies (eg. toilet paper) and medical personal protective equipment have resulted in stockouts and shortages.
In many cases the use of single sourcing, or sole sourcing, Procurement strategies has limited the ability for Supply Chains to access alternate sources of supply and more rapidly support higher than normal demand levels.
As we progress through and past the pandemic, is it time for Procurement to adopt parallel Supply Chain strategies, such as dual sourcing, and limit or abandon single sourcing and sole sourcing?
As we’ve chronicled on the Argentus Blog, it’s no secret that the world of Procurement is changing and fast. With automation, big data and burgeoning AI systems removing more and more of the profession’s “tactical” or “clerical” tasks, the Procurement report card is that companies are calling on their Procurement teams to be more strategic, more nimble, and more innovative.
They’re expecting their Procurement functions to deliver not just bottom-line cost-savings, but other sorts of value, adding to organizations’ overall competitiveness.
Procurement, you’ve come a long way, baby!
But a new survey of 200 C-Suite executives from a variety of industries and functions presents a rather dispiriting picture of the Procurement function today – or at least how it’s perceived.
The prospect of having a Just In Time (JIT) Supply Chain system has been the goal of innumerable businesses and industries for decades. And for those who have implemented Just In Time processes it has been the backbone of their entire operating structure.
But the global pandemic exposed the fragility of the Supply Chain in virtually every industry. We quickly ran out of healthcare supplies, toilet paper, and more. The extent of disruption has spread to lumber, steel, computer chips, automobiles, furnaces, and any number of additional products.
The fundamental principle of just in time delivery based on real time demand, combined with the unrelenting focus on inventory levels and faster inventory turnover, has created an operating paradigm that is great when things are going well, but which has proven to be ill-equipped to handle disruption the likes of which the pandemic has created.
Does that mean that a Just In Time philosophy has outlived its usefulness? Is JIT past its time?
As we come to the end of our 3rd year here at Supply Chain Game Changer it is time to publish our semi-annual 2019 Top 10 List.
First we want to thank our readers. Our audience and reach continues to expand with Supply Changer now being ranked as one of the Top 20 Supply Chain blogs in the world and one of the Top 15 Procurement blogs in the world. Both are record achievements for us.
Second we want to thank our guest contributors. With dozens of writers and articles we continue to fulfill our vision of sharing expertise and experience from all over the world.
We thank you for your ongoing support and ask you to continue to spread the word about Supply Chain Game Changer. There is truly something of value for everyone no matter what challenge you are facing each and every day.
Here we present our Top 10 list for the second half of 2019. Enjoy!
A business owner has many responsibilities. They have to make sure profits are made while also ensuring that their employees are paid, taxes are filed, and so on. However, there is one aspect that has grown significantly in terms of importance and visibility in recent years: running a more sustainable business.
In a highly competitive global marketplace, business owners must reach a wider audience with their products and services to ensure they can compete, regardless of where they operate.
It goes without saying that the internet has fuelled the growth of international trade. Today’s customers are fully prepared to purchase goods and services online from a company outside their country – if they can be delivered quickly and reasonably priced.
That’s why breaking into the European marketplace is vital to enjoy growth and expansion for businesses of all sizes and sectors. After all, the current total population of Europe is almost 750 million people, all of which have the potential to be one of your consumers.
We stand at the cusp of some interesting new possibilities for business. As such, we can expect some potentially drastic changes, and with them the need for smart solutions. We’ll take a look at a handful of the major challenges facing supply chain over the next half-decade, and how the industry is approaching these.
It can sometimes feel as though our commercial landscape is in a constant state of flux. Whether due to frequent changes in technology, attitudes of consumers, or shifts in working practices, this can breed both an exciting sense of competition, as well as uncertainty. Supply chain managers are often at the forefront of these developments.
Being a CEO is tough enough, let alone how difficult it is if you don’t have all of the skills and knowledge needed.. Many CEOs have a background in Finance or Sales and Marketing or Engineering, or are just entrepreneurs. But few have in-depth experience in Supply Chain, let alone understand how to leverage Supply Chain.
The truth is that the overwhelming, but often misunderstood and underrated, impact of Supply Chain’s importance to the success of an organization is missed and unknown to many CEOS.
Only truly smart CEOs get it. They get the importance of Supply Chain and understand that they will succeed or fail depending on how they do, or do not, leverage Supply Chain.
In the middle of our 5th year here at Supply Chain Game Changer we are proud to publish our 2021 Top 10 List. Here we are showcasing our 10 most popular articles for the first half of the year.
Since we’ve started we have amassed an extensive library of over 750 articles. There is something for everyone no matter what your interests, challenges and needs may be from one day to the next. And that fulfills our mission of sharing experiences and expertise for the benefit of all.
Still there is always more to right about to help our readers.
So let’s take some time to reflect, and look back on our 2021 top 10 list … so far!
The idea of starting a business partnership can be very exciting. It allows you to utilize complementary talents and shared resources. Diving into this endeavor also means a lesser financial burden as you can share this responsibility with your partner.
However, business partnerships aren’t all good as there are several cons to this setup. For one, working with a partner will prevent you from making decisions on your own. Any decisions you make, whether big or small, should be consulted and approved by your partner first and vice versa.