Give the Buyer What They Want

No doubt that you have spent a considerable amount of time over the last few months predicting trends in your industry and the strategies you need to put in place to meet those needs. Curious to see what the experts are predicting?  Below is a list of supply chain management trend predictions for 2012 from Supply Chain Digital:

1. Exceptions are the new normal – Factors beyond our control influence the supply chain- the economy, natural disasters, defective parts. Complete visibility into your supplier, and your supplier’s supplier, is required to respond and resolve issues as exceptions arise. A warehouse management system can provide inventory traceability within your warehouse as well as with your suppliers.

2. Shift from “planning is everything” to “execution is key”– The natural disasters that took place in 2011 taught us that no matter how much planning you do, execution is what pays the bills. In 2012, supply chain managers will focus more on strategies to ensure products are being delivered using real-time information, not yesterday’s plan.  Collaborative execution is key to this approach.

3. Rapid resolutions driven from trading network partners – Excel spreadsheets don’t cut it for global supply chain networks. More companies will begin investing in technology that can help businesses communicate changes with their suppliers and partners for fast responses to changes in forecasts, orders, inventory and other key data points. Supplier enablement software and warehouse management system software working together can provide visibility into product coming in and going out the door and everything in-between.

4. Emphasis on big data – It’s about the continuous monitoring of trading networks.  Don’t assume existing algorithms will automatically produce the right answer, if anything we have found that it’s about the people and knowledge in the networks to harness creativity and respond to unforeseen situations.

5. Convergence of digital and physical supply chains – Digital and physical supply chains will continue to converge this year. Integrating the two will deliver faster, more efficient execution of products and services.

Source:  Supply Chain Digital