Last week our friends over at Material Handling & Logistics News released a very handy guide aptly named "How to Survive Supply Chain Complexity" that should be on everyone's reading list. Having been a critical supplier to many companies during our 58 years in business, we would encourage special attention to the "supplier collaboration" section. Our support team team is constantly in search of ways to have greater transparency with our OEM and manufacturing clients, to increase the collaboration and improve the solutions Madison provides from one year to the next. Not only does the article describe four primary sources of Supply Chain complexity, they also describe seven solutions for managing Supply Chain complexity. Here are a few key takeaways:
1. Companies feel that good partners helped them address complexity by enhancing product and process innovation.
2. Transparent collaboration between a company and its partners opens up opportunities to reduce the processing exceptions that introduce complexity.
3. If suppliers better understood the role their output created, they’d be better positioned both to help deliver the best possible product and to do it in a manner that smoothed the flow and reduced complexity along the way.
Be sure to take a few minutes this week to learn these important survival tactics for our modern times!