By Shaun Mooney
As businesses batten down the hatches and try to ride out these current times of uncertainty, the supply chain function has become the shining light for many organisations. It is clear that the supply chain business unit has been integral in driving efficiencies and optimisation throughout businesses, ultimately reducing costs. Increased recognition of the importance and value of Supply Chain efficiencies has often lead to a greater say at the executive table in implementing new ways of doing business. The organisations that have really adopted this methodology and fully supported the supply function have reaped the benefits, allowing for financially stronger organisations that are running more efficiently and leaner.
A few supply chain trends that have been noticeable over the past year include:
- Increased utilisation of digital technology
- Adapting to innovation and change whilst also ensuring supply fundamentals are still being utilised
- Utilisation of lean methodologies
- Procurement’s greater role within the supply function
The aforementioned trends are just a few that I have noticed over the past year but I am sure many more have become apparent within your organisation. Ensuring a strategic mindset is being incorporated throughout the supply chain function will allow for greater efficiencies and optimisation for a business as a whole. The transition from an old school supply approach to a new savvier, less transactional approach will enable businesses to ride out these testing times and put them in good stead when the market resumes its upward trajectory.