Study: Companies Are Relying on Supply Chains to Cut Costs
In an era where cost-cutting is a common trend you probably hear about at least once a day, many companies have started turning to their supply chains, specifically sourcing and procurement functions, as a main area to help with boosting revenue and reducing costs. According to the 2009 Global Survey of Supply Chain Progress from CSC, Supply Chain Management Review, the Council of Supply Chain Management Professionals and Michigan State University, 88% of respondents reported that objectives are in place for purchasing departments to produce cost-savings in the next year.
According to Chuck Poirier, a supply chain expert who was quoted in the SupplyChainBrain.com summary of the findings:
“We see this trend as evidence of the fact that supply chain is finally becoming entrenched as a company-wide improvement effort. Leaders are implementing strategic supply chain efforts to transform business processes to achieve near-optimum operating conditions. At the same time, most firms identified as followers and laggards have not reached the limit of what can be done to enhance financial performance with their supply chains.”
With this new reliance on supply chain functions, it becomes more important to ensure maximum visibility into the supply chain so that all operations are running as smoothly as possible. Using a Supply Chain Visibility solution such as Management Dynamics can help you ensure visibility, communicate efficiently with carriers and suppliers, and make accurate decisions relating to diverting inventory or resolving bottlenecks.
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