A regular and exclusive series addressing some of the major challenges facing SMEs today. Icehouse Insights also highlights some of the possible solutions you can weave into your business to solve common issues.
Few would disagree that the global events of 2020 and the first half of 2021 have disrupted traditional supply chain models more than ever before.
Furthermore, because of New Zealand’s physical place in the world, the type of industries which dominate, plus the impact of COVID, Kiwi businesses are striving for continual improvements in supply chain efficiency and management to improve profit and performance.
Three in every four US businesses have reported supply chain disruption due to the COVID-19 pandemic. In New Zealand it’s a similar story. Alongside talent and skills shortages, pressure on the supply chain is the most common current challenge highlighted by our alumni.
Businesses develop supply chains so they can reduce their costs and remain competitive in the business landscape, but greater disruption equals higher operating costs and lower revenues.
New Zealand’s SMEs have plenty to gain by taking a much closer look right now at how they work with suppliers and how they can use technology to drive productivity and make their supply chains work harder for them.
Defining The Supply Chain
As most know, a supply chain is a network between a company and its suppliers to produce and distribute a specific product to the final buyer. This network includes different activities, people, entities, information, and resources.
The supply chain also represents the steps it takes to get the product or service from its original state to the customer.*
The key steps in a supply chain include:
Planning the inventory and manufacturing processes to ensure supply and demand are adequately balanced...
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