Top supply chain strategies for 2020

“A vision without a strategy remains an illusion”-Lee Bolman

Before we plot the strategies, let’s make ourselves clear with the definition of Supply chain strategy,

What does this actually mean?

Why is this so Important?

What is its role?

Why it’s proper functioning makes a lot of difference?

So, A strategy for how the supply chain will function in its environment to meet the goals of the organization’s business and organization strategies.

I hope the above one-line definition itself clears all the doubts related to its importance in the business field.

Supply Chain Strategies are the condemnatory backbone of the Business corporation today. The efficacious Market report, Accessibility of Products at places that holds the key to revenue identification depends upon the efficacy of the Supply Chain Strategy rolled out. Very simply expressed, when a product is introduced in the market and advertised, the entire market in the country and all the sales counters need to have the product. Any defect in the product, not being obtainable at the right time can result in lessen customer engrossment and demand which can be tragic.

It’s confidential that today’s supply chains have become more complex than ever, with socioeconomic and market gesture emphasizing organizations’ need to respond to an outside-in, demand-obsessed world.

But now it’s a peak time for companies to factor in a host of new volatility, such as rising protectionism and Patriotism across the political world. This is kicking in many to reappraise their business-continuity risks and clasp new sourcing strategies. Here are a few supply-chain strategies plotted to help endeavor blossom in the ongoing environment.

1. Espouse demand-driven planning and business operating model based on real-time demand insights and demand shaping.

2.Build a commutable and nimble supply chain with quick planning and integrated manufacturing.

3.Optimize product design and management for supply, manufacturing, and imperishable, to expedite commercial alteration.

4.Line up your supply chain with the business objective by integrating sales and operations planning with corporate business planning.

5.Implant sustainability into supply chain operations.

Sustainability in all its forms, both social and environmental, has joined growth and profitability as a top priority. And for good reason: sustainability and the bottom line are no longer mutually exclusive.

Putting a spotlight on sustainability places a new focus on supply-chain practices, many of which can have a sizeable impact on environmental health in areas ranging from carbon emissions to industrial waste and pollution. Today there are myriad strategies companies can use to optimize their supply chains for sustainability:

Supply-chain teams can develop long-term targets that improve key measures of sustainability such as the company’s carbon footprint, energy usage, and recycling efforts.

Teams can deploy new technologies to ensure responsible environmental practices such as optimizing truck routes to reduce fuel consumption and carbon emissions across the supply chain.

Companies can move to a shared data model to provide the end-to-end visibility and real-time insights needed to optimize supply chains and ensure they are sustainable.

6.Adopt emerging technologies to ensure authenticity and foreseeable supply.

Businesses need a bulwark to deal with unanticipated shifts in demand, but too much inventory can raise costs. By improving demand precision, new technology can reduce inventory needs and speed reaction times, creating an agile and more authentic supply network.

With today’s global trade volatility and ongoing tariff wars, it’s essential to make the right decisions about where to source materials, make products, and deliver goods to minimize costs and ensure compliance.

Hence, the above given were some strategic points to be kept in mind for the supply chain strategy.

concluding that nothing can be achieved without a good plan, motive, will-power, hard work.

it is very well said “the strategy is about making choices, trade-offs; it’s about deliberately choosing to be different”