Multinational computer tech giant Oracle has published a paper exploring ways supply chain chiefs can “turn change into opportunity”.
In the paper, Four Best practices for Supply Chain Leaders, Oracle outlines how organisations worldwide are experiencing seismic changes in how they operate.
“Customers expect more, demanding fast, convenient, and personalised products and services,” the company says. “Employees expect more too, seeking employers that share their values, offer flexible work options, and equip staff with modern technology.”
It adds: “And shareholders expect more, pressing executives to improve diversity and sustainability, and to find new sources of revenue.”
In its paper, Organisations says businesses must address these changing expectations, while navigating economic uncertainty, supply chain disruption, and regulatory scrutiny.
View change as an opportunity, says Oracle report
Oracle says the organisations who are succeeding best in this are those who view change “as an opportunity”, and it goes on to list four ways supply chain leaders can discover such opportunity:
- Engage and inspire employees
- Manage responsibly and sustainably
- Anticipate & respond to supply chain disruption
- Exceed every customer expectation
In its paper, Oracle says: “Rather than adapting to change as it comes, leading organisations are finding new ways to get ahead of challenges.
“They are creating a culture of continuous innovation to identify and solve business problems, fast. They are breaking with conventional best practices, empowered by cloud and advanced technologies to plot new paths.
“In short, they are redefining ‘best’. Supply chain leaders in particular have a critical role to play in managing change and redefining ‘best’. An agile and resilient supply chain has never been more important.”
The company adds: “Leaders must guide company investments in new technologies that provide deeper visibility and more precise control; they must anticipate and predict disruptions, rather than react to them.
