I find there is little more important than supply chain collaboration for succeeding in today’s new normal business environment….
- Customers – Of course, collaborating with customers is key to success; however, it goes much farther than asking for forecasts. How can you collaborate together to optimize logistics? Reduce space requirements? Free up cash? Speed up deliveries?
- Suppliers – Negotiation should not immediately pop to mind! Instead, think about being upfront with how to stay competitive. How can you collaborate on new materials? New designs? Cost savings ideas?
- Trusted advisors – Don’t forget to partner with your trusted advisors in the supply chain. Best practices can be found in many places. Your banker will know how you are performing vs. others in your industry, geography etc. Collaborate!
- Logistics partners – It’s amazing what can be achieved when assessing your supply chain network – how can you partner with transportation providers, 3PL’s, and other logistics partners for a win-win-win?
- Communities – What communities exist within your supply chain that you can leverage? ERP communities? Industry organizations? Trade organizations? Who better to ask for best practices?