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In research compiled by HBR, firms led by CEOs with SCM experience were more effective in maintaining profitability levels, while increasing sales and keeping costs low during the height of the pandemic and suggest that the best CEOs have supply chain experience. https://lnkd.in/gkMmapsH #thesupplychainevangelist #supplychain #procurement #manufacturing If you find this post helpful, consider sharing it and comment below 👇

Our monthly newsletter has landed in inboxes everywhere. Be sure to give it a read for my latest update on the supply chain industry. https://lnkd.in/epd-dJ7n If you are not yet subscribed, it's easy to do that here: https://lnkd.in/gink2Kyh #thesupplychainevangelist #supplychain #procurement #manufacturing If you find this post helpful, consider sharing it and comment below 👇

I recently returned from a cruise to Barbados, a much-needed escape. But I could not help but wonder just exactly how these cruise ships moved thousands of people and managed their supply chains so effectively. Cruise ship logistics is complex and fascinating, but the tools they use - communication, partnerships, and AI - can apply to any organization who needs to boost their supply chain efficiency. https://lnkd.in/eF9vDRTJ #thesupplychainevangelist #supplychain #procurement #manufacturing If you find this post helpful, consider sharing it and comment below 👇

Early adopters of AI-enabled supply chain management have reduced logistics costs by 15 percent, improved inventory levels by 35 percent, and enhanced service levels by 65 percent. Adopting AI tools to manage manufacturing operations can be costly, but 70 percent of the respondents from a survey of CEOs of over 150 firms agreed that AI is delivering a “strong ROI.” https://lnkd.in/ghm4WJPB #thesupplychainevangelist #supplychain #procurement #manufacturing If you find this post helpful, consider sharing it and comment below 👇

Excellent article from Ömer Ali Güneş in Thread in Motion on reducing waste in #supplychainmanagement - costing companies $1.3 trillion. These unusual opportunities to reduce waste can save significantly on costs. https://lnkd.in/dKhS-fii #thesupplychainevangelist #supplychain #procurement #manufacturing If you find this post helpful, consider sharing it and comment below 👇

Labor Day is a tribute to those who work hard to make our lives better. Enjoy your day! 😊

A must-read from McKinsey & Company about why we aren't seeing the #productivity gains from technology that we expected - and how to change that. "Successful leaders will shift from an evolutionary mindset to a revolutionary one and act now to fix their organizations so that technology can truly accelerate productivity growth." https://lnkd.in/et_PhFZx #thesupplychainevangelist #supplychain #procurement #manufacturing If you find this post helpful, consider sharing it and comment below 👇

Evaluating Supplier Financial Stability - an excerpt from "Protecting Your Revenue Stream is about Protecting your Supply Base" by Dave Stowe and Anna McGovern. As you work toward a more resilient supply chain, one crucial step is to evaluate supplier financial stability. Rigorously evaluating your supplier partners’ financial health is a fundamental role of the procurement team. At minimum here are the 5 basic steps to take to mitigate risk to your business from your supplier base: 1. Research the company’s credit history. Running a D&B Hoovers credit report is the easiest way. 2. Get references and call them. You will learn a lot by speaking to other customers. 3. Get their financial statements. If they are a public company look at their annual reports. If they are private, there are a lot of other means to get information, such as internet sources, state agencies, public records, or their own website. When reviewing available documents: Calculate the Supplier’s Profitability Ratios: If a company is not profitable, it likely will not stay in business for long. Calculate the Supplier’s Liquidity Ratios: Liquidity ratios provide a measure of the supplier’s ability to meet short-term obligations and therefore the supplier’s sustainability. Calculate the Supplier’s Activity Ratios: Activity ratios look at a supplier’s ability to convert balance sheet accounts into cash or revenue. 4. Verify bank information. Get the supplier’s bank information and find out how long it has had the account. Using several banks and switching frequently is not a good sign. Do they have a revolving line of credit? This affirms their creditworthiness. 5. Assess the impact your business volume will have on the supplier. This is a critical step. Will your volume help grow the company—or stretch it too far? Understand the supplier’s business growth plan. Partner with those that continue to invest in their business. https://lnkd.in/eQF34utz #thesupplychainevangelist #supplychain #procurement #manufacturing If you find this post helpful, consider sharing it and comment below 👇

The CPKC and Canadian National Rail announced a strike that will severely disrupt supply chains. We will be monitoring the situation closely. Please get in touch if you have any concerns or will be impacted by this strike. Please get in touch if you have questions. https://lnkd.in/eJTpNWM7 #railstrike #supplychain