Elemica Discusses 10 Top Supply Chain “E Lessons Learned” in 2014
Elemica, the leading Supply Chain Operating Network provider for the process industries, discusses lessons learned in 2014 that will deliver value to a company’s supply chain, better positioning businesses to champion their marketplace in 2015. Companies that use these lessons learned to implement evolving practices and gather metrics across supply chain processes will capture new market opportunities and mitigate risk, significantly reduce operating costs, and improve their customer service capabilities.
“2014 was a year of economic growth for many industry sectors, yet there is still room for improvement, especially if a company is on a continuous improvement journey,” said Ed Rusch, Vice President of Corporate Marketing at Elemica. “We’ve put together these ‘E Lessons Learned’ from real customer experiences, industry analyst expertise, and our own involvement with peers to help businesses grow and move forward in the New Year.”
- Ecosystem – Supply Chains are becoming more of an ecosystem rather than disparate parts, enabling accountability, visibility and agility.
- Experience – With customer requirements ever changing downstream, process manufacturers are deploying more sophisticated strategies to keep customer service levels high without resorting to piling on the cost in terms of buffering stock.
- Extend – Instead of focusing inward on the company itself, outside-in supply chains put the customer first.
- Expectation – Unmet expectations occur when companies attempt to force trading partners to collectively adopt a single standard. Integration across the varied, distributed, and complex needs of thousands of individual trading partners and their respective enterprises, without requiring any of them to change the way they do business, is a reality today.
- End-to-End – The process industries are moving away from a manufacturing focus to more of a supply chain view linking supply with demand.
- Exponential – The network effect builds when the capability to do more with more makes all the existing participants better off.
- Engage – Build better relationships with B2B Social.
- Ease – Business Networks enable companies to find common ground with their customers.
- Expose – Bring risk and variability to the forefront or expect surprises.
- Envision – Master Data Management (MDM) creates a single view of the business.
What have you learn about supply chain in 2014? Share with us in the comment box. Feel free to send us a message for discussion and subscribe to get updates in your inbox.
