There are many different supply chain strategies and philosophies in use around the world. Some of these tactics can yield surprising and important revelations in the way goods are produced and shipped.
EBN contributor Mark Well broke down some of the popular options and described their usage in the supply processes of manufacturing and shipping powers in developed economies. His focus was on the electronics sector, a unique and difficult to manage group of companies.
Well explained that the worldwide economy is still in a chaotic state that will persist for years to come. He stated that the market for electronics is in a constant state of flux, with new opportunities appearing and old ones disappearing all the time. He explained that even in the face of these unsteady conditions, there are customers for electronics dealers who will insist on getting more from the supply chain than ever. Companies must wrangle the risky market to please these demands, rather than falling back on excuses.
While companies need to find ways to fight back against the challenges of the electronics sales process, they may have to look at obscure and creative solutions rather than counting on middle of the road strategies. Well gave several tips based on processes he observed in supply chain management departments around the world.
Well stated that when large companies make approaches into small countries, they are proving better than ever at making partnerships with small local firms and harnessing the power of the region's market. Well also discovered that, far from the classic image of the underpaid force of unskilled laborers, some companies have harnessed the power of educated workers. Beyond that, he found research and development efforts spilling across borders, with far-flung divisions of companies offering input and support.
Globalization of the supply chain is well under way, meaning firms may soon find themselves face to face with the trends inherent in smaller markets around the world. Gartner's survey of the supply chain management field through 2016 detected that the global links between countries will soon become as large as they can be in the current market. Instead of scale, companies will start to make sure their processes are well-tuned and as efficient as possible. A close view of what their global partners are doing could, as Well implied, arm them with exciting new strategies for the optimization process.