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Lessons from the World’s Best Supply Chains

Aristotle conceived the idea of virtue ethics, where you can improve yourself by emulating the best qualities you see in other people. This principle more or less applies to supply chain as well. An article at The Week highlights seven lessons you can learn from the world’s best supply chains.

Learning from the Top

Begin by putting the customer first. Companies like McDonald’s and Apple make the customer experience their starting point in all things. Second, start small and think big. Third, be agile, because a willingness to change is crucial to find and maintain a competitive advantage. After all, innovation is key, especially in areas like supply chain finance, where large companies help their supply chains improve credit. Remember the importance of cash flow transparency, because, “Sales are vanity, profit is sanity, and cash is reality.” And finally, always be thinking about how you can use technology, and track your successes in all areas. For further detail, you can read the original article here: http://www.theweek.co.uk/world-news/your-business/60932/lessons-from-the-worlds-best-supply-chains

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