Amidst the blare of the US elections many of us probably didn’t notice the opening of Berlin’s new airport on 31-Oct. With its opening delayed by a good 9 years and budget overshot by $4 billion, the capital city’s airport stands out as an exception in a country reputed for engineering & planning excellence.
In the weeks following the onset of the COVID shutdowns, most organizations were in crisis-response mode; but as things return to a normal (or semi-normal) state, business leaders should pause, take some time to assess the efficacy of their actions, and internalize the lessons learned.
On his popular TV show “The Profit,” entrepreneur Marcus Lemonis repeats this mantra frequently: successful businesses are built on the three P’s; people, product, and process. The concept has its origins in lean manufacturing, but it has since taken hold across a broader spectrum of industries.
Disruption is nothing new; it’s just happening a lot faster and with greater impact than ever before. The good news, though, is that it’s not only possible to survive under such circumstances; great companies can even succeed and prosper in the midst of massive disruption.
Today’s companies continue to expand to reach global markets, but this has made control of supply chains more and more complex. Companies recognize that developing and executing successful supply chain strategies can be key to gaining a competitive advantage in the marketplace. A key to managing a global supply chain is having strong visibility. This has in turn prompted companies to use technologies such as ERP/MRP systems, warehouse management systems and transportation management systems. Additionally, companies are utilizing hardware technologies, hand-held scanners, GPS, tracking devices, cameras, microphones, RFID readers, wireless networks and automated warehouse systems (AGVs, Robots). Adoption of these technological tools allows more visibility than ever before. But having the data, alone is not enough; managers now have millions and billions of bits of data to decipher and sort through. Having piles of data is not enough, supply chain managers are now faced with how to best use the data to obtain the right information to track performance, diagnose bottlenecks and uncover opportunities for continuous improvement.