FIVE BUSINESS BOOSTERS IN YOUR SUPPLY CHAIN
SUPPLY CHAIN Has The Answer To Everything.
When establishing a Five Business Boosters In Your Supply Chain strategy, CEOs and other executives often appear to do it on random criteria.
However, it is necessary to determine specific criteria and axes beforehand. In fact, every organization is particular and has its specificities, which implies different approaches in terms of strategies.
The strategy you decide to implement has to be adapted to your business requirements. However, there are 5 key cornerstones that are the basis of successful strategies.
They are defined and shown in my book, The Five Business Boosters In Your Supply Chain Network (http://bit.ly/5-STARBN).
In fact, this book is entirely based on this approach of the 5 key factors that will help you build a great business strategy.
The very essence of this book relies on Five Business Boosters In Your Supply Chain, and how they must be built. According to Vivek Sood, there are 5 stars that will enable you to build the best business network.
Fire-Aim-Ready Innovation (FAR)
The first one is innovation or “Fire-Aim-Ready (FAR) Innovation”, as Vivek Sood defines it. This is the first cornerstone of your Five Business Boosters In Your Supply Chain.
Innovation have been existing for a long time, but this is a specific approach, on which every organisation must base its strategy.
In fact, this book explains how to combine the key factors to be more efficient and effective, at the same time.
Although innovation has already played great roles in business, like during the Industrial Revolution, this is not the same any more.
Nowadays, innovation must be steady and specific, relying on your business area. Besides, it is not only about products, but also management innovations or strategy innovations can be found.
$eed-to-$tore Efficiency ($2$)
The second star is “$eed-to-$tore ($t$) Efficiency”, a term that needs to be explained in more details, but we will dedicate an entire article to this term.
To explain it in brief, $eed-to-$tore Efficiency relies on a good management of the supply chain and of the entire process, from procurement to storage and distribution.
In fact, this is all about management, and its efficiency. Then, Transaction Optimisation Profitability is also a key cornerstone.
This is obviously about profit. With this expression, “5-STAR”, Vivek Sood explains how to capture the more profit you can, by using efficiently your Five Business Boosters In Your Supply Chain.
Transaction Optimisation Profitability (TOP)
In fact, everything relies on your network. Networks are becoming bigger and bigger and they are now the main cause on which all your decisions and strategies depends.
Transaction Optimisation Profitability (TOP) is the way you use your network to capture the greatest profit and value.
Advanced Product Phasing (APP)
The fourth key of your Five Business Boosters In Your Supply Chain is Advanced Product Phasing (APP).
This term will also be defined in a later article. What we can say for now is that APP is about product life cycle and innovation cycle.
You must pay attention to them in order to act accordingly and make your business evolve in agreement with these cycles.
Results-Focused Outsourcing & Modularization (ROM)
Finally, the last one is Results-focused Outsourcing and Modularisation (ROM). This is quite a complex one, but also very important.
Indeed, it will be the subject of Vivek Sood’s next book: Outsource, Outsmart, Outprofit.
This term reveals the power of modularisation and networks will play a great role in this strategy establishment and implementation.
Consequently, we have here the 5 key cornerstones of a great Five Business Boosters In Your Supply Chain.
They can now be defined as Five Business Boosters In Your Supply Chain because they can push your business towards great results if they are well aligned and well used together. by Anais Lelong
Now You Are Ready To Consider The Right OUTSOURCING For Your Operation
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