WHAT IS THE KEY TO BEST PRACTICE IN THE SUPPLY CHAIN SPACE ?
LEADERSHIP
40 businesses the most . It is true that implementation could bring extraordinary benefits in the long-run , however , companies could also face serious difficulties during transition periods if the appropriate system or a skilled project management provider are not chosen carefully .
When a project is successful and a streamlined digital platform is in place , automation and integration reduce the operating costs considerably , creates consistency on processes , builds trust among the business , and also introduces opportunities to interact with business partners and partners to strengthen relationships . We ’ re also only looking at the tip of the iceberg at the moment , and the true scope of technologies such as artificial intelligence ( AI ) has of course not yet been realised .
WHAT IS THE KEY TO BEST PRACTICE IN THE SUPPLY CHAIN SPACE ?
As a part of the advances in the era of communication and digitalisation , there is an opportunity to empower our relationships with stakeholders . I believe that Supplier Relationship Management ( SRM ) is quite important these days .
In the initial stages , SRM programmes are challenging to implement due to the viability assessments required and the need for commitment from different parties . However , when SRM programme frameworks are well architected , companies can share their long-term strategic plans with key suppliers , creating opportunities to develop better products and services and gain a competitive advantage . Additionally , it can maximise
MARCH 2020