KPMG’s recent Global Consumer Executive Top of Mind Survey 2014 delves into a number of business topics, including supply chain management and operations. One of the more interesting findings? KPMG data found that a clear majority of respondents indicated that the supply chain is the top area in which they’ll increase investments over the next 12 months.
Another insight from the survey? “Supply chain also topped the list when companies were asked which issues would be most challenging over the next 12 months (38% of all respondents)—especially for retailers (50% of non-food retailers and 40% of food/beverage retailers),” according to KPMG.
Although the survey is directed toward consumer executives, their challenges mirror those of their counterparts in other industries. As supply chains continue to grow in size and scope, companies face an increased risk of production-related problems that could result in inventory defects like spoilage, out-of-stocks and miscounts, product recalls and, in worst-case scenarios, consumer injury and/or death.
As a result, businesses in all industries face a critical challenge: find a better way to track, trace, collect and analyze the products, raw materials, assets and information that move through their supply chains while maintaining the capability to quickly and easily share information between various supply chain members and functions. This challenge becomes even more important when you’re dealing with a supply chain that spans multiple facilities, cities and countries. Yet it’s a paradoxical conundrum in that the larger the supply chain, the more difficult it is to truly grasp the processes, inventory and data that continuously moves throughout the cycle.
We’ve talked a lot about challenges and potential problems—so what are the solutions? KPMG calls for “greater collaboration and deeper integration of data analytics into supply chain management,” which helps with “visibility, flexibility and planning.”
Those three capabilities are critical supply chain attributes, especially end-to-end visibility that gives you real-time insight into all facets of the supply chain. We created our mobile supply chain solutions to mobile-optimize the supply chain, enabling the end-to-end visibility and execution that’s become an imperative in today’s increasingly global (and digital) marketplace. If you have questions about what our solutions can do to help you meet your specific supply chain challenges, please feel free to contact us.
In the meantime, we’d love to hear your thoughts on KPMG’s findings. Do they mirror your own experience with your company’s supply chain? And if so, how do you plan to tackle the challenges and increase supply chain investment in the coming months?