The best supply chains share traits that enable them to succeed, though sustaining excellence is hard. One trait of the best supply chains is their data-drive nature. Collecting data from the supply chain network and garnering actionable data is vital for growth. Successful supply chain managers utilize both data optimization and visualization software. By tracking movements of the supply chain, managers are able to optimize efficiencies in the entire supply chain. Since employees are the most important asset of an organization, the best supply chain empower them. Cecere (2014) states that best supply chain incentivize their workers to make them more invested in the success of the organization. One way of motivating employees to give their best performance is by providing them with the tools, equipment, and skills that they require to perform their functions. The other trait of the best supply chains is transparency organizations that rely on their supply chains as engines of growth share data and information within the firm. Linking every facet of the organization to enhance efficiency entails complete tracking to make the organization more compliant and accountable. Furthermore, transparency minimizes financial loss and reputational damage in case of a product recall (Cecere, 2014).
Successful supply chains are also prepared for unexpected events through planning. According to Hugos (2018), effective supply chains are developed in a manner that it can exploit opportunities and at the same time balance risks. Therefore, effective supply chains have actionable plans in place that will inform decision making under all circumstances. Finally, the best supply chains embrace innovation. Managers of successful supply chains are always on the lookout for the best innovation to improve their operations. It entails adopting new technologies before competitors do. As new technologies become intricately linked to supply chains, the question remains whether supply chain managers will adopt them to improve growth and deficiency.
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References
Cecere, L. (2014). Seven Characteristics of Supply Chains to Admire. Forbes . Retrieved from https://www.forbes.com/sites/loracecere/2014/09/21/seven-characteristics-of-supply- chains-to-admire/#21314c5b77ad
Hugos, M. H. (2018). Essentials of supply chain management . Hoboken, New Jersey: John Wiley & Sons.
