Here are five supply chain management strategies leaders should use to remain successful in today’s industry, according to the report.
- Develop a glass pipeline. Leaders should harness new technology to ensure they have visibility throughout their entire supply chain, from the product’s raw materials all the way to the end user.
- Maintain a strong supplier council. Supply chain managers should develop a forum to effectively communicate with suppliers and share ideas on efficiency improvements, changes and upcoming plans.
- Develop an ‘outside-in’ supply chain. Leaders should use data to understand how to best serve their customers and predict demand, instead of developing a product or service and hoping it finds its market, according to Roddy Martin, a vice president at Oracle Corp.
- Focus on cybersecurity. Organizations should have an effective cybersecurity policy in place for their supply chain partners and vendors, as one weak link can threaten everyone in the supply chain.
- Give your CIO a seat at the table. CIOs and information technology department must be involved in supply chain transformation efforts to facilitate growth and aid in cybersecurity measures.
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