A recently released study by Manufacturing and Supply Chain Expert, Lisa Anderson, MBA, CSCP, CLTD, president of LMA Consulting Group Inc., indicates that 70% of US manufacturing executives expect near-sourcing to increase within the next five years.
Manufacturing innovation is the highlight at this summit, where creative solutions and industry trends will be the focus.
As one who drives the Los Angeles freeway system on a daily basis, it is obvious we need improvements; however, we also do not have time to deal with anything but a quick delivery of these improvements.
We all know we should think long term. And we talk about thinking long term. But, do we actually think long term - and live with our decisions even when it's hard? Not nearly as often as we should!
According to the Chartered Institute of Procurement and Supply (CIPS) risk index, risk is the highest since 2013. It is easy to become complacent. Are you adding risk into your supply chain conversations and plans?
Whether outsourcing, insourcing or near-sourcing or a combination of all three, manufacturers need to reassess their strategies to measure risk and ROI.
What happens when you have a break in your supply chain? Do you have contingency plans in place to mitigate business interruption?
It is wise to stay on the leading edge of what is of such critical importance to manufacturers, distributors, logistics providers and the economy.
Have you put your organization under review to look for ideas and solutions that may be right in front of you? Take a step back and look for those strategic weapons with an eagle eye at improving performance and your bottom line.
Kash Gokli Receives 2016 LMA Advocate Award
