Modern day supply chain management is often about finding reductions in costs, expenditures, wasted resources, or misallocations in how raw materials are spread across complex manufacturing networks and value chains. But this worldview often neglects or places little value on the fact that supply chains in and of themselves can be a key driver in affecting growth, increasing revenue, creating business moments, and forging new partner networks or footprint expansion.
But, as with almost anything in modern SCM (supply chain management), such achievements are often more easily discussed than realized. However, that doesn’t mean manufacturing companies don’t have the tools necessary to transform their supply streams from merely a vessel of procurement and product distribution into an important vehicle for engineering long-term, sustainable growth and productivity. Forward-thinking planners and managers can, with relatively minor adjustments to their SCM strategy, create a supply stream with the power to not only drive growth and innovation, but also the capacity to generate real revenue for companies in an increasingly competitive marketplace.