How Efficient is Your Supply Chain?

Original Source: LinkedIn Pulse

As leading supply chains from across the world turn to robotics, drones and other inventions more suited to the latest Sci-Fi blockbuster, it’s strange to think that many still struggle with one seemingly simple task; supply chain transparency. The truth is that the complex nature of the supply chain makes realizing this ambition far from easy. The sheer number of stakeholders and business processes involved almost serves as an invitation for things to go wrong. It therefore comes as no great surprise that KPMG’s latest manufacturing report suggests that the best way for manufacturers to reduce supply chain risk is by achieving greater supply chain visibility and placing a greater emphasis on cross-functional management. This improved visibility can then provide organisations with the intelligence they need to tweak and improve supply chain processes in order to satisfy current demands.

In a recent study conducted by CSCO Insights 65% of supply chains are thought to display above average levels of complexity, whilst 70% of respondents rated themselves as average or below with regards to their ability to effectively manage inventory. Those that take the time to better understand this complexity put themselves in a position whereby they can significantly reduce the eye-watering amounts of working capital tied up in the supply chain. Efficient procedures translate as huge cost saving potential.

How Will Your Supply Chain Score?

Every Angle recently published a new supply chain quiz to try and help organizations monetize the cash saving potential efficient supply chain processes can breed.

Greater visibility improves an organization’s ability to manage the end-to-end performance of the supply chain and thus significantly improve its efficiency. Put your supply chain to the test to see where hidden cash saving opportunity could be locked away.