What particular characteristic defines a leader in the supply chain industry? It’s the ability to recognize the importance of innovation and put it at the top of his or her agenda. And what’s the end result of strong supply chain leadership? Significantly higher levels of performance for the organization on both revenue growth and EBIT measures compared to the industry average.
According to a new study by Deloitte, organizations with superior supply chain capabilities or “supply chain leaders” achieve significantly higher levels of performance.
Deloitte surveyed more than 400 executives in manufacturing and retail around the world. Organizations were designated as supply chain leaders if they were rated by their executives as significantly above average compared to their industry on two metrics: inventory turnover and the percentage of deliveries on time and in full.
In addition to being innovative, supply chain leaders are more likely to:
- be early adopters of disruptive technology like 3-D printing
- use analytics extensively
- empower executive leadership
- connect the organization
- develop talent strategies for the new era of professionals
- Develop supply chain maps beyond the first tier
- Have an extensive risk analysis
- Drive cost and value improvement through the supply chain
- Maintain prioritize business and customer needs
- keep strategies forward looking
Which are you, a leader or a follower?