When speaking about the myths in supply chain management, there are a lot of supply chain myths that keep the companies out of moving forward with a better supply chain strategy, and even more effective execution. Below are a few of the most prevalent from the list.
MYTH #1: SUPPLY CHAIN STRATEGY IS PART OF OVERALL BUSINESS STRATEGY
In 2013, it was believed that companies value the supply chain as particularly a strategic asset and a part of the overall strategy in their business. Below specified are the key reasons why supply chain strategies are either not integrated or unavailable: Insufficient recognition of the role of the supply chain by the Boardroom executives’ No strategy, no sense of emergency. Most of the companies still focus on the basics of running a supply chain because it is still working. Seemingly collaboration challenges within the supply chain and across all functional areas. The non- involvement of Supply chain executives’ in managing the end-to-end supply chain.
MYTH #2: OUR SUPPLY CHAIN IS TRULY CUSTOMER- CENTRIC
In over 70% of R&G’s client base, the delivery date requested by the customer was not available in their systems or had been overwritten by a promised delivery date. Delivery date is one of supply chain’s basics, and if a company fails to take into account this very important customer service tenet, then they can’t possibly claim to be customer-focused. Companies whose overall strategy is all about supply chain productivity must take to heart the value that understanding the needs of customers can create.
MYTH #3: WE FULLY UNDERSTAND OUR SUPPLY CHAIN
If a company fails to take basic customer requirements like the delivery date into account, then it also can’t claim full understanding of their supply chain. It may not be possible to have detailed knowledge of all operational issues on a daily basis. However, a minimum awareness of key issues combined with an on-time delivery KPI that suggest everything is fine, may well lead companies to falsely assume that their supply chain basics are organized.
MYTH #4: WE CANNOT MAKE THE NEXT PERFORMANCE STEP WITHOUT TECHNOLOGY
Maybe sooner or later, companies will have to consider investing in the latest technology. The concern is do they need to make the decision now? If their processes are neither stable nor predictable, getting a quick return on investment in the latest technologies is a pretty considerable challenge. Unsolved process issues are likely to prevent the latest technology from performing as expected already. To be able to generate the expected ROI, the latest technologies need much stable processes. If a company has not evaluated its current processes, and has never met its process targets, then it shouldn’t assume that it will do so with the so-called new technology. Understanding the root causes of supply chain instability will help in identifying the next steps and investments as well. This is equally applicable to the students who wish to start a career in this industry.
Understand the myths and stick to the practicality, which would definitely bring potential results both academically and practically. There are many top institutes offering Supply Chain Management courses in Kerala. The students are open to choose any course related to supply chain management or logistics. Due to the increased demand for this course, there are many Supply Chain Management Courses in Kochi, providing quality training. The students have to choose the Best Logistic Institute in Kochi as numerous institutions are already providing this. Getting education and training from a reputed institution would definitely add to your career and help you master in your area of action.
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