While growing market complexity and the scattered nature of today’s supply chains prove to be a great challenge, consumer expectations and legal and regulatory scrutiny also make understanding and gaining control of the supply chain a business imperative. As global expansion becomes the norm, the lack of visibility and insight can have devastating impacts on competitiveness, profitability and brand reputation. Understanding the advantages and disadvantages of sourcing and management of your supply chain base is critical to having an efficient and effective system for the manufacturing of products and/or the delivery of services.
The benefits of effective supply chain management cannot be overstated due to the critical role a supplier plays in helping organizations create defect-free products and services which are delivered per contract requirements. No matter an organization’s visibility challenges, with the right digital tools and external assistance these complex structures can be efficiently managed. Investing in supply chain improvements leads to cut costs, improved operations and long-term success for businesses and brands.