A company’s supply chain is more than a set of procurement, logistics and operations rules and relationships. According to Steven Bowen, Maine Pointe CEO, CSCMP member and author of Total Value Optimization: Transforming your global supply chain into a competitive weapon, a global supply chain can be a powerful competitive weapon capable of driving new levels of growth.
In a new report from Maine Pointe and the Global Supply Chain Institute, researchers laid out the correlation between the development of a holistic supply chain strategy and an increase in shareholder value. With only 16 percent of businesses reporting that they already have a multi-year supply chain management strategy, according to the Global Supply Chain Institute, this indicates that this area is probably overlooked come time to report on earnings.
Maine Pointe CEO Steve Bowen offers insights and predictions on how CEOs will look at supply chain optimization in 2019, and what challenges manufacturers will see – including trade and tariff uncertainties, rising health care costs, transportation shortages and an unpredictable global climate. Steve notes that the coming changes aren't all negative though, and a move towards Internet of Things and Industry 4.0 will deliver new dynamics and greater visibility, and those CEOs who are willing to put new practices and Total Value Optimization into place will be the ones to survive these disruptions and experience lasting growth.