goods-retail-store-supply-chain

Five Questions CEOs Should Ask about their Supply Chain

For CEO’s, most your time may not be spent focused on your company’s supply chain, but they should, at least some of the time. According to Industry Week, supply chains ensure products are delivered on time and in good shape, factors that contribute directly to a company’s bottom line.

goods-retail-store-supply-chain

From the article:

Supply chains can be defined as the movement of three critical resources: materials, information and money. A failure in the movement of any of these can lead to a failure of the entire chain, whether there is only one supplier or hundreds. If a payment is late, a part held up, or there’s no data or misleading data available to track a component, the supply chain will fail.

And, to build on this, if you think quality in a supply chain is just having the right materials in the right place at the right time, you’re not thinking broadly enough. Supply chain management must also focus on the quality of the materials, the accuracy and content value in the information shared between supplier and customer, and the accuracy and timeliness in the financial transactions.