In our last installment of the Spring Cleaning Series, we want to focus on strategies you can implement in the present that will help you time and time again going forward.
5. Refocus on the Customer Experience
Delighting the customer should be every organization’s goal, and “good enough” supply chain performance will no longer do in today’s competitive environment. Customer expectations are high and continue to rise, especially with companies like Amazon pushing next-day or even same-day delivery. Customers simply expect that you can deliver on your promise, and one key way to ensure you meet your commitments is by adopting a segmentation approach. Recognizing that one size does not fit all, supply chain segmentation routes customers along a specific path according to their different pain-points, needs, priorities and profitability. For example, if a customer wants a product quickly regardless of cost, you can develop a supply chain process that accommodates that user type and charge a premium. Conversely, if the customer is willing to wait for a lower price, you can adjust your processes accordingly.
6. Re-evaluate Outsourcing & Supplier Strategies
In some industries, such as computer hardware, it might make sense to implement an outsourcing strategy so your business can focus on other elements such as design, R&D or brand building. If your company opts to manufacture internally, now could be the time to take a look at your supply chain network to not only ensure you have the right partners in place, but also ensure that they are properly integrated into your systems to allow for better collaboration, visibility and control. Along with that, utilizing order-to-cash and procure-to-pay functions can enable companies to gain a holistic, end-to-end view of their supply chain operations while improving decision-making and business growth.
Traditionally, spring cleaning has been a way to say “out with the old and end in the new”, but with our strategies, you can improve on the old and keep your new and improved supply chain fresh and current.