Earlier this week, I spoke on a panel at a ProVisors (a top notch group of trusted advisers) event about supply chain and its impact on the Southern California and Inland Empire economy.
The event prompted me to think about whether we are keeping supply chain top of mind (from your suppliers’ suppliers, through your manufacturing operations – insourced, outsourced or both – to your customers’ customers, inclusive of transportation and logistics networks, IT etc.). It will have a dramatic impact on your business success, and, in Southern California’s case, the economy. For example, is the Amazon Effect (the notion of 24/7, immediate delivery with value-added suggestions and innovative service) affecting your business? What can you do about it? Do you think autonomous vehicles or robots will have an impact your business? If you aren’t thinking about supply chain, you will miss critical business opportunities.
What Should We Consider and/or What Situations Could Arise?
Keeping supply chain top of mind is simply keeping your business top of mind. Some of the current hot topics are those like the Amazon Effect – finding out what your customers expect in terms of service. Beyond that, do you understand their needs so well that you could proactively suggest products and services that might add value for them? Could you change or innovate what you do to better align with what would be most beneficial to them? In essence, are you thinking about the total customer experience?
Another hot topic is supply chain technology. How can you utilize technology and/or what might be coming down the pike that will affect your business? Can you get ahead of it? I hear a lot about utilizing supply chain data, robotics, automation, artificial intelligence and more. What is relevant to you? Let me know in the comments.