How good is your supply chain?
May 15, 2019
Recently, I attended a conference for CEOs and presidents where I moderated a panel discussion about the value and benefits of having a great supply chain.
It was fascinating to learn how some outstanding companies like Home Depot and Walmart have used their supply chains as a competitive asset to beat their competitors. What made this a particularly unique experience though was the fact that during the presentation, I had the opportunity to ask the audience a few questions based on what our resources had just shared.
One of the first questions I asked was: “How many of you feel like you have a great supply chain?” The response was sobering. Only one hand in the room went up.
My second question was: “How many of you feel like you have at least a good supply chain?” A few more hands went up. As it turns out about 75% to 80% of the companies in attendance have an average or mediocre supply chain.
I was a little shocked, but not too surprised because having interacted with hundreds of CEOs and presidents over the years, I've seen that up until the Perfect Storm hit in 2018, they hadn’t invested too much time or energy on the quality of their company’s supply chain.
And that is why during many of my presentations or in my blogs I like to issue this challenge to CEOs, presidents and C-Level executives: “If you’re wondering why your company has an average or even mediocre supply chain, then look in the mirror! Truthfully, it’s mediocre or average because you’re willing to accept and live with this reality.”
If you want a good, or even great supply chain, here is an important piece of advice: Get in the game and emulate the things that great companies do. For example, the one person who raised their hand as having a great supply chain is also the only person in the audience whose company had a written transportation spend management plan.
So if you want to emulate them and create that plan, we encourage you to download our eBook.
Another attribute of great supply chains is their willingness to look into the future. As usual, TranzAct has you covered there too. If you are looking to gain the knowledge you need to be proactive instead of reactive then check out the new supply chain report that we sponsored about what to expect in 2030. This report was created by CSCMP and Auburn University to prepare supply chain professionals for the future.
We provide all of this because we’re on your team, here to help and passionate about seeing you be successful.