3 Keys to Achieve an Agile, Digitally-Enabled Supply Chain

Clarissa Willis
November 19, 2020 | Updated: September 12, 2023

Businesses are like naval ships battling the rough winds and waters of a hurricane. In an area of uncertainty, the forces of change blow from every direction. Trade wars, pandemics, extreme weather and other unexpected risks have unbuttoned old business models, and businesses must be ready to protect against volatility in demand and supply.

Safety stock is the largest component in protecting against uncertainties, and it is the lubricant that keeps supply chains running smoothly. The 2019 Forecasting and Inventory Benchmark Study Infographic: Inventory Reduction is here to provide a dynamic snapshot into what companies should be doing to get the most out of their inventory to improve productivity and see a greater return on capital.

However, businesses should aim to improve more than just the productivity of their inventory. Forecasting, agility and resiliency are also other key areas companies should strive to develop to outstep competitors in global trade. Best-in-class forecasting can mean the difference between minimal incremental revenue gains and the boost in performance that business leaders seek. Agility and resiliency, meanwhile, provide the strong backbone needed to handle unexpected disruptions in demand and supply and help business leaders navigate away from the storms.

In addition to the inventory reduction infographic, the 2019 Forecasting and Inventory Benchmark Study infographic: Agility and Resiliency and 2019 Forecasting and Inventory Benchmark Study Infographic: Best-in-Class Accuracy offer quick at-a-glance portions of the core topics in the ninth Annual Forecasting and Benchmarking Study. The comprehensive study examines the current state of forecasting, inventory and supply chain performance to present companies with the insight they need to see how they stack up against their peers. It encompasses more than $250 billion in annual sales across multiple industries and is an invaluable resource for companies who seek to achieve planning excellence.

If you would like to read the full study, you can access it here.

Download the 2021 Forecasting and Inventory Benchmark Study to find out how the Covid-19 pandemic impacted key supply chain metrics and discover successful strategies adopted by leading manufacturers to respond to disruption.

Latest

July 15, 2024

Five Supply Chain Trends Shaping the Future of Sourcing, Trade, and Logistics, Pt.1

For decades, China has represented the pinnacle of global trade. As companies around the world began offshoring manufacturing to China to cut costs, the country emerged as an international export leader. However, recent trade patterns signal a changing tide in global supply chain dynamics. In 2023, Mexico became the US’s top trader, outpacing China for the first time in 20 years. The shift reflects an emerging trend called nearshoring, where companies bring production hubs closer to their main markets. Doing so helps cut supply chain costs, reduce logistical hurdles, and swiftly respond to changing market conditions and consumer demand. During the first three quarters of 2023, foreign companies invested 47 percent more in nearshoring efforts in Mexico, mostly focused on the auto sector.

Read More
July 8, 2024

Is Nearshoring to Mexico the Right Fit for Your Organization?

For decades, China has represented the pinnacle of global trade. As companies around the world began offshoring manufacturing to China to cut costs, the country emerged as an international export leader. However, recent trade patterns signal a changing tide in global supply chain dynamics. In 2023, Mexico became the US’s top trader, outpacing China for the first time in 20 years. The shift reflects an emerging trend called nearshoring, where companies bring production hubs closer to their main markets. Doing so helps cut supply chain costs, reduce logistical hurdles, and swiftly respond to changing market conditions and consumer demand. During the first three quarters of 2023, foreign companies invested 47 percent more in nearshoring efforts in Mexico, mostly focused on the auto sector.

Read More
July 3, 2024

Congratulations to the 23 e2open Clients included in The Gartner® Supply Chain Top 25 for 2024 ranking

With the announcement of The Gartner Supply Chain Top 25 rankings1, e2open would like to take a moment to recognize our 23 clients who we believe, have been included for their work towards supply chain excellence. For us, this is an incredible achievement that speaks to our clients’ ability to manage a superior supply chain that delivers on the purpose of their business.

Read More
Subscribe to Receive e2open Updates

E2open Subscription Center

Interested in Learning More? Stay current with the latest e2open news – from company updates to thought-leadership pieces, and so much more!

Complete this form to subscribe to e2open updates.

Are you ready to boost your supply chain capabilities? Let's get started.

Let's Get Started