Compiled By Dave Schafer The most profitable supply chains revolve around mutually beneficial partnerships and process-based relationships that integrate suppliers throughout the product's life cycle, a new report reveals. The 154-page report by ...
Compiled ByDave Schafer The most profitable supply chains revolve around mutually beneficial partnerships and process-based relationships that integrate suppliers throughout the product's life cycle, a new report reveals. The 154-page report by consulting company Best Practices LLC says companies scrambling to cut expenditures and boost profit margins are looking to their supply chain to reduce processing errors and excess supply costs. Benchmark partners cut lead times and inventory by more than 50% and eliminated 100% of processing errors and paperwork due to improved supplier partnerships, the report found. The report, an analysis of how benchmarked companies partner with suppliers to meet supply-chain improvement goals based on insights from 150 companies, also found some tactics companies could take to make supply chains more effective:
Align supply-chain management systems with strategic initiatives and goals
Forge partnerships with suppliers
Certify supplier partners
Employ technology to improve supplier partnerships
Refine and enhance manufacturing processes
Foster communications between partner organizations
Emphasize the mutual benefits of partnership
For more on the report, "Best Practices in Supply Chain Partnership and Certification," go to
Best Practices LLC.
