July 27, 2017
Earlier this week, I spoke on a panel at a ProVisors (top notch group of trusted advisers) event on supply chain and its impacts on the Southern California and Inland Empire economy. This prompted me to think about whether we are keeping supply chain (from your suppliers’ suppliers through your manufacturing operations whether insourced, outsourced or both to your customers’ customers inclusive of transportation and logistics networks, IT etc.) top of mind. It will have a dramatic impact on your business success – and, in Southern California’s case, the economy as well. For example, is the Amazon Effect (the notion of 24/7, immediate delivery with value-added suggestions and innovative service) impacting your business? What can you do about it? Do you think autonomous vehicles or robots will impact your business? If you aren’t thinking about supply chain, you will miss critical business impacts.
What Should We Consider and/or What Impacts Could Arise?
Keeping supply chain top of mind is just keeping your business top of mind. Currently, some of the hot topics are those like the Amazon Effect – find out what your customers expect. Beyond that, do you understand their needs such that you could 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 for them? In essence, think about the total customer experience.
Beyond that, another hot topic is supply chain technology. How can you utilize technology and/or what might be coming down the pike that will impact 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?