Supply chain management is more important than ever. According to Deloitte, eight in ten companies with high-performing supply chains have revenue growth that’s well above their industry average. On the other hand, only 8% of organisations with limited supply chain capabilities manage to do the same.
Most of today’s organisations recognise the key role their supply chains play in their ability to garner a competitive advantage in the marketplace. Perhaps this accounts for the 11.2% growth for the supply chain management market predicted between 2020 and 2027, as recently reported by Research and Markets, a global provider of market data.
Practised properly, supply chain management can achieve multiple objectives. For instance, controlling manufacturing processes can improve product quality, reduce the risk of recalls and lawsuits, and help build a trusted consumer brand.
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