Supply Chain innovation:

How to be Adaptable While Sticking to Business Fundamentals

Since the beginning of trade routes and camel trains, there has been a need for transportation. A need that has only grown exponentially with our constant commercial evolution and the resulting drive to get everything done better and faster.

With all the technological advances in the last 5 years, the world needs information and products “yesterday” which is why companies are constantly searching for an innovative way and idea that will revolutionize existing processes. Innovation is defined by the Dictionary as “a new product, idea or process”, and while there is no point in reinventing the wheel there is always room for improvement. However, one cannot lose focus of the three basic building blocks that make a success out of the supply chain industry. Profit, reliability and service. The supply chain industry is a fast paced and constantly evolving industry.

In order for businesses in supply chain management to keep abreast of the constant changes they need to be adaptable, all the while maintaining their focus on the fundamentals of basic good business practices. The question remains, how do we, as a business owner embrace innovation but keep in line with the traditional business basics and fundamentals?

The basic fundamentals are the same in which ever industry you are looking at and the supply chain and logistics industry is no different; while there are specifics that vary there are three key factors that remain the same: revenue, profitability and service.

In order to be a success, your business needs to grow and adapt with the latest technologies and trends, very important in the supply chain industry. Technologically speaking it is wise to keep abreast of social media for example, especially in the digital age.

In this technical age that we find ourselves in, it is imperative that you and your company’s I.T. systems are up to date; you can’t be the only company on the block that is manually capturing data; it is; therefore wise and some might say prudent to invest in a decent, solid computer/ I.T system. Your business needs an I.T system that is versatile and adaptable to the constant changing environment and technological advancements.

Mobility and mobile technology is key to success in today’s technologically geared workplace, everything is connected to some cloud or other and we all have the ability to stay connected 24/7. We all have the ability and need to work from a different location in the past 5 years it has become imperative that we are able to connect remotely and work from our favourite coffee shop, the airplane – even while we are in the bathroom as we brush our teeth.

Even if you are on point and are leading the way in technical connectivity in the logistics industry you should not ignore the value of innovation, for every one success story, there are about 5 others waiting in the wings to take the number one spot. Thus, it is a good idea, no matter how great your reviews on “hello peter” or how many Facebook likes you have and the millions of retweets you get you must always be on the ball. The ideal way of approaching change is through a methodical and systematic process. Supply chain innovation