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1) Establishing a governing council for supply chain

An administrating council's intention is to give association and aid align supply shackle strategy
alongside the company's finished strategy. The council's membership ought to contain the head
of the supply shackle association as well as company administrators, company constituent
managers, and supplementary prominent firm leaders. Ideally the council ought to grasp usually
projected meetings. But even if it doesn't, its mere attendance will indicate that supply shackle
association has the endorsement and promise of elder leadership.
The council can additionally aid to remove barriers to accomplishment that continue inside the
organization. Every single firm has such barriersusually people or associations that don't
discern or accord the worth that a wellmanaged supply shackle provides. By addressing these
barriers, associates of the council aid to safeguard that the supply shackle association is given the
opportunity to present up to its potential. After it is clear that the official association is fully
embracing the supply shackle association, it is probable that key business-unit stakeholders will
be extra keen to work alongside and prop supply shackle efforts and initiatives.
Finally, the council provides an competent forum for cross-functional communication. An alert
administrating council creates an opportunity for company constituent heads to furnish the
supply shackle association association alongside data considering upcoming strategies and
projects.

2) Quantitative analysis for risk management


The elevated modeling instruments in use by the investment industry were activated by global
accords such as Basel II and Basel III, and by U.S. regulations such as the Dodd-Frank Wall
Road Reform and Customer Protection Act. Banks nowadays can ideal the rarest of calamitous
events the so-called Black Swans and supply-chain managers demand to be able to do the
same. These methods and instruments will be requested to the subsequent creation of supplychain chance management.

3) Selling directly to customers (Tesla)

Tesla doesnt follow the traditional franchise-dealer sales model. Instead it prefers to sell directly
to the customers..via placing orders online for their respective cars. Following this model, they
try to minimize the risk by kepping small inventory and can minimize the capital required for the
inventory. A report published by Goldman Sachs revealed that direct-to-consumer model helps
the customer save 8% of the cost.

4) Make technology work for you


Too many companies select software they hope will make them more efficient, and they structure
their workflows and processes around that chosen technology. Instead, they should first review
the processes that need improvement, and only then select the technology that is suitable for their
needs.Perhaps that is why in many companies, the supply chain organization seems to be
"feeding the system" (such as an enterprise resource planning system) with information, and they
have difficulty retrieving the type of data they need for making important decisions.At best-inclass companies, by contrast, managers understand that "the system" should help them better
manage their supply chains. They find a way to use technology to produce beneficial information
without having to perform various "work-arounds" to extract and view the data.

5) Improving Visibility
Supply chain executives identify improving visibility as their number one priority. They desire
better transparency to orders, inventory and shipments across their extended supply chain. Yet
most companies still have rudimentary levels of visibility, using carrier tracking systems, and
homegrown department applications. Companies are on a path to take their visibility systems far
beyond basic order and shipment tracking. They are looking to turn these systems into exceptionbased process management platforms that enable staff to manage exceptions rather than micromanaging steady-state processes. Key elements include escalation policies to ensure corrective
action is being taken, incorporation of resolution advice or workflow (e.g., expedite options and
policies for a late shipment), and performance trending.

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