Few weeks back, I posted a survey on this blog and as per my practice of sharing the results of the survey with the readers, I am summarizing the survey results as well as some of the comments that I got on the survey. The objective of the surevy was to find out the most critical objectives of a supply chain professional to make their supply chain most efficient for their organization.
A whopping 42% of the respondents mentioned "Reduction in Lead Times" as their most important and critical goal for this year as they would want to increase their responsiveness to ever changing dynamics of demand in market and at this time when going beyond SLAs is the need of the hour to stay ahead of the competition, this measure is their top priority. The next 2 most important goals that came out from the survey are: 1) Supplier Collaboration - To have an expanded supply chain visibility and de-risk the operations from supplier failures and 2) Improvement in forecasts - To optimize inventory and to reduce working capital as well as obsolete inventory.
The other major objectives that experts from across the globe mentioned, are:
- Enhance spend analysis capabilities
- Better auction capabilities
- Reduction in stock out frequency
- Reduction in physical and system inventory
- Improve communication with customers and suppliers
The total number of votes that I got on this survey...