Stepping back, looking at the big picture and asking the right questions are critical for business leaders who want to transform their end-to-end supply chains, said Lisa Anderson, founder and president at LMA Consulting Group Inc. based in Claremont, Calif.

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Supply chain transformation is a top priority as companies strive to satisfy customer expectations.

“Consumers expect their retail experiences to be increasingly convenient,” said Abe Eshkenazi, CEO at the Association for Supply Chain Management in Chicago.

Technology to beat the Amazon Effect

Companies such as Amazon persistently push the marketplace closer to the consumer, Eshkenazi said. In turn, suppliers and logistics must work exponentially more quickly. This raises customer expectations even higher, as they expect an anytime-anywhere shopping experience.

“To stay truly innovative and efficient, supply chain managers will need to ensure that they have the right technology capabilities to easily adapt to the changing digital environment and respond to the consumer demand for tailored products and services,” Eshkenazi said.

One way to do that is by capitalizing on AI capabilities, which can improve supply chain planning, customer order management and inventory tracking, he said.

Hardware wholesaler True Value is one company that upped its technology investments.

Supply chain transformation as business initiative

Many leaders need to take a fresh look at the relationship of the business and its supply chain.

Stepping back, looking at the big picture and asking the right questions are critical for business leaders who want to transform their end-to-end supply chains, said Lisa Anderson, founder and president at LMA Consulting Group Inc. based in Claremont, Calif.”Is your sourcing, logistics and manufacturing infrastructure set up to best support customer requirements, bottom-line results and cash flow?” Anderson said. “Have you taken stock of what is changing and at what pace? Is flexibility and resiliency built into your supply chain?”Leaders should take the time to reevaluate their supply chains from a new lens, she said.”Instead of thinking about delivering in three months, think about how to transform your supply chain so that you can consistently deliver in three days,” Anderson said. “Incremental continuous improvement is no longer enough.”

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Published in TechTarget on Dec. 16, 2019