Reviewing the Supply Chain
In the fiercely competitive environment we face in Australia, a sustainable supply chain is fundamental to any organisation’s survival and further, a key plank in the maintenance and growth of any competitive advantage. The volatility and uncertainty in the globe, coupled with new demands for environmental protection, and the increase in online shopping, are having a far reaching impact on all Supply Chains.
As part of their Corporate Governance businesses should be:
- Identifying any vulnerabilities should there be a disruption to supply of product or services.
- Assessing the internal capabilities of the business, and the external providers who are part of the Supply Chain, and identifying if this is the best outcome for the business.
- Reviewing the flexibility of all Supply Chain actions and if change is needed how quickly can the business react to this.
- Establishing Accountability in both Internal and External components of the Supply Chain and establish meaningful reporting to alert management of issues that need to be addressed and quickly.
- Appoint an external source to Audit your Supply Chain with a clear objective of satisfying Management that the business is operating its Supply Chain within the Strategic Plan of the business.