As businesses advance, supply chain management must as well. Playing a key role in an organization’s success, it’s important that supply chain management is equipped to handle its complex needs and adapt accordingly.
Take a look at how supply chain management is changing, certain challenges and a smart solution.
How Supply Chain Management in Changing
In the past, supply chain management was seen as an operational role within companies. Overseeing the flow of materials among suppliers, manufacturers and consumers, it was mainly responsible for enhancing production or logistics efficiencies.
Now, however, it represents a strategic role, driving enhancements as an equal business partner. Supply chain is also now charged with the responsibility to integrate and optimize the end-to-end business processes from Purchasing to Planning, Logistics and Customer Service.
This shift is especially important in furthering supply chain management’s ability to affect a company’s financial success. Now as a strategic business partner, it is able to:
- Collaborate with multiple departments to promote organization alignment
- Maximize a company’s resources for operational excellence
- Drive innovation to leapfrog competitors by offering value-add services to customers
- Integrate with suppliers to maximize cost advantage and supply continuity
Supply Chain Management Challenges
However, even as supply chain management has evolved, it is not without its challenges. Supply chain disruption is one such challenge. Disruptions can occur for a variety of reasons, including:
- New technology systems
- Government regulation
- Political instability
- Currency volatility
- Industrial accidents
- Natural disasters
When a disruption occurs, it can negatively impact that company’s revenue and risk raw material supply, production and distribution levels.
Supply Chain Management Solutions
However, with supply chain management’s increasing capability and strategic shift, it has become better equipped to anticipate and manage these disruptions. One smart solution is end-to-end redundancy.
Bostik strategically implements end-to-end redundancy both internally and in its partners operations. This entails the following:
- Understanding the risk and value impact of all aspects of the supply chain
- Having an end-to-end perspective to insure total system optimization
With end-to-end redundancy, Bostik is able to find out why a problem may occur, how it impacts the entire supply chain, what risk mitigation strategy should be implemented and how to fix it. Additionally, this smart solution helps:
- Save companies time and resources
- Maximize supply chain productivity
- Keep our customers whole
For more information on end-to-end redundancy and Bostik’s Supply Chain 4V’s (Visibility, Variability, Velocity and Versatility), visit www.bostik.com, or call 800-7-BOSTIK.