- Opinion & Analysis
- Read Time: 3 min
How leading companies use price, speed, quality and flexibility to drive innovation and shareholder value.
Effective product returns strategies and programs can result in increased revenues, lower costs, improved profitability and enhanced levels of customer service.
In service businesses as in others, work can be performed and stored in anticipation of demand. By wisely choosing what kind of inventory to hold, companies can improve quality, response times, customization and pricing.
An organization’s ability to recover from disruption quickly can be improved by building redundancy and flexibility into its supply chain. While investing in redundancy represents a pure cost increase, investing in flexibility yields many additional benefits for day-to-day operations.
There is a consensus among futurists that business is the only institution capable of providing effective global stewardship. As a result, a good deal of attention is being paid to mapping the future performance of businesses and the economies in which they operate.
Early in our careers, when we worked for the General Electric Co. in Schenectady, New York, there was no road map for a young manager desperately trying to find ways to lead. One had to experiment, employing various mechanisms such as motivational sessions, inventory control, budgetary control and information management.
During the e-boom of the 1990s, academics, consultants, executives and investors alike claimed that e-procurement, and its increasingly central role in supply-chain management, would revolutionize how future business-to-business practices would take place: Efficiencies would be improved and procurement costs reduced; the flow of information along the supply chain enhanced; strategic
Should birds of a feather flock together? Not if the goal is to promote innovation, says Rachelle C. Sampson, assistant professor of logistics, business and public policy at the University of Maryland’s Robert H. Smith School of Business.
By understanding the variety and interconnectedness of supply-chain risks, managers can tailor balanced, effective risk-reduction strategies. The authors show how smart companies use “stress testing” to identify parts of the supply chain that might break in the event of a natural disaster, terrorist strike or other upheaval. They then explain a variety of ways that supply-chain partners can collaboratively prepare for and effectively manage risk.
Even the best companies let their customers down sometimes, and many disappoint frequently. The authors lay much of the blame for this on companies’ obsession with uniqueness and differentiation. According to their analysis, companies are too quick to dismiss “category benefits” as a source of advantage. They explain why companies such as Toyota, Cemex, Orange, Medtronic and Sony are successful because they are simply better at offering what customers really want.
Showing 61-80 of 124