To aid these initiatives, a recent Logistics Viewpoints report identified several considerations for achieving "supply chain excellence."
For starters, companies should go off proven templates. Now, as businesses are still rebounding, is not the time to forge a new and unproven path.
Businesses also need to utilize deep expertise on the supply chain. The complex nature of today's economies and markets means that even the slightest change on one end of the supply chain can have major implications on the other.
Finally, the report suggests companies always seek out means for improving their supply chain management. Warehouse management and other solutions should be considered to increase the productivity of the supply chain.
A recent report from research firm Gartner revealed that supply chain management was a key consideration for many companies in 2010. The market for such tools increased 10 percent to reach $6.8 billion in revenue, according to Gartner, after it contracted 2.1 percent in 2009.