Steelwedge Software

Steelwedge Software

Time is the New Currency

Posted: 09 Jan 2012 05:45 PM PST

This week, the Wall Street Journal pegged it: Global companies took years building supply chains. In 2011, natural disasters took just days to break them all apart. Like it or not, VUCA (volatility, uncertainty, complexity and ambiguity) is the new normal, and more than ever before, time is the new currency. Here's what I mean by that: with the rapid outgrowth of linear supply chains into multi-enterprise networks, loss of control and visibility have become the top challenges for many supply chains. Proliferating risks in the demand-supply network and increasing lead-times due to expanding networks makes flexibility the key to overcoming challenges. This was indeed a hot topic at the latest trade show I attended, Supply Chain Logistics 2011, where the theme was agility and flexibility.  Leaders of supply chain strategies and leading global companies were on hand to discuss, debate and deliver ideas about how they—and the industry at large—can tap different approaches, such as Integrated Business Planning, to ensure they are more agile. It is imperative that they are able to beat the clock and deliver better returns to their companies in a world where VUCA reigns and no one has the luxury to sit out the storm and wait for smoother seas. Well known risk management expert, Yossi Sheffi of MIT drove a fascinating discussion on resiliency. He used case studies to highlight examples of enterprise resiliency in the face of unexpected "Black Swan" disruptions. Gerry Smith, Global VP of Supply Chain at Lenovo, brought home the message with real-life examples of the challenges Lenovo faced during the Japanese Tsunami and the Thai Floods of 2011. Think of it this way: you advance your planning process with flexibility; you protect your business with agility. While both flexibility and agility have…

Posted by computer at 9:07 AM  

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