So how do supply chains handle the rapid pace of innovation?
A pace that can leave them struggling to adapt and make the right decisions?
There’s intense competition in the global economy…where only the strong survive.
Breakthrough technologies meeting the growing demand of e-commerce are the drivers of change.
Also, the pace of on-demand customers entering the market is always changing.
The speed of technology advances mean entire supply chains are continuously adapting. But major transformations are notorious for not delivering on their original intent.
However, achieving successful business transformation is not easy.
According to the McKinsey Global Survey 2015, two thirds (74%) of respondents said the transformations they’re most familiar with are short term.
They've been unsuccessful at improving performance and equipping organizations with the skills to sustain improvements over the medium to long term.
Riddled with cost and schedule overruns, critical projects requiring organizational transformation often miss the mark with negative consequences.
Some of the key considerations are:
- issues with inconsistent delivery
- negative impact on service
- direct impact on profitability
- potential damage of organizational and personal reputations.
This article will highlight three strategic approaches designed to provide you with some insights and keys for a supply chain transformation roadmap.
Before going any further, let’s get on the same page on what supply chain transformation is about.Read More