The No-Nonsense Newsletter - Ideas for Talking to Your Bosses About Supply Chain
Welcome to our No-Nonsense Newsletter, where we bring the latest no-nonsense industry trends, expert viewpoints, and best practices to #GetShipDone.
Welcome to the latest issue of our No-Nonsense newsletter, an easy way to stay updated about supply chain best practices and news to #GetShipDone.
It’s been 60 days into 2023. How confident are you with your supply chain planning?
Here’s what we often see when reality kicks in:
Jokes aside, convincing C-suite to invest in the right tool may be difficult during an economic downturn.
In this edition, we will provide some ideas for how to talk to your executive team about supply chain problems along with some issues or disruptions that might still be causing you or your organization some headaches.
How to Talk to Your CFO About Supply Chain
A Forbes writer has suggested printing off the latest Global Supply Chain Pressure Index (GSCPI) and talking to your CFO about the following five actions to take to improve balance sheet results:
- The Efficient Supply Chain Is Not The Most Effective.
- Spreadsheets Do Not Yield The Best Decisions.
- Functional Metrics Throw The Supply Chain Out Of Balance.
- Governance Matters.
- Marketing-Driven Needs To Move To Market-Driven Decisions.
How CFOs Can Better Integrate Supply Chain Operations
A recent article in CFO Magazine noted finance chiefs can achieve supply chain security, risk mitigation, and even happier customers when they lead supply chain integration. And if the sales and supply sides aren’t working closely with each other through regular meetings with give-and-take on each side, even the most state-of-the-art tech platform won’t save you from supply chain disruptions.
Five Supply Chain Lessons the Modern CEO Can Take From the Last 3 Years
CEOWORLD Magazine has explored five lessons the “modern CEO” can take from the last 3 years when it comes to supply chain:
- Monitor freight prices and adjust logistics strategy accordingly
- Implement flexible logistics solutions
- Implement a flexible inventory management strategy
- Diversify sourcing locations
- Stay informed and make data-driven decisions
In other words, your CEO needs to familiarize themself with your job as a logistics professional.
Cost of Shipping Gasoline Jumps 405%
As many as 600 vessels have joined a “shadow fleet” of ships helping Russia to keep its oil flowing. That in turn is leaving fewer vessels serving other oil exporters and is boosting the cost of freight. Rates are also spiking as buying picks up elsewhere. In other words, brace for more supply chain disruptions and/or rate hikes.
Nearshoring Accelerates and the Majority of Supplier Bases to be Local in Three Years
A recent Capgemini report predicts 25% of global trade will relocate in the next three years, resulting in the current split between global and local suppliers, 57% to 43% respectively, being exactly reversed.
Another recent report from the Economist Insight found almost three in 10 (27%) companies said they were shortening the length of their supply chains due to geopolitical events. A third (33%) also said they were planning to shift supply chains into more stable and transparent markets.
How Millennials Can Help to #GetShipDone
Millennials might have killed traditional rituals when it comes to dating, dining, and socialising, but they’re wizards of technology.
Other generations in the workforce, such as baby boomers and generation X, who take this open-minded approach to millennials will benefit enormously.
By tapping millennials to lead software adoption, the entire organization will have a highly skilled and motivated vanguard for digital transformation.
#ShipHappens. We get it. Here are some guides to help navigate the ever-changing supply chain and logistics in 2023. Grab your copy, and let's #GetShipDone!