What Can Supply Chain Managers Learn From The Olympics?
The Olympics and Paralympics recently reminded the world that success is hard work that requires not only talent but also discipline and plenty of support. There are also a lot of smaller lessons that can applied to business from the individual sports competitions, such as the notion that those who succeed in long-distance running are not as likely to be successful at sprinting.
Lots of competitive sport metaphors can be applied to supply chain management, and those who adopt some of these principles in their approach to work might just find themselves winning the equivalent of the gold medal in their respective fields. Supply chains are complex and global, just like the many countries on the medals podium, and being able to compete on the world stage is a sure sign of competency.
The Right Tools Can Give You A Winning Edge
Another lesson one can learn from the Olympics is how important it is to have the proper tools. The world’s top athletes showcased just how much lightweight materials and technical fabrics can enhance their game, and the same can be said for the tools that modern supply chain managers have at their disposal, particularly when it comes to data.
Moving a commodity from one place to another can pose a number of challenges, and this is made even more complicated by the fact that the item in question, the particular buyer and seller demands, and the locations involved all require their own set of highly specific needs. That means that a one-size-fits-all approach simply won’t work. Supply chain managers must constantly be on top of their game and be prepared for unexpected hurdles at any moment.
One wrong move puts a lot more than just a medal at risk; a company’s very profits are at stake. That is why supply chain managers need up-to-the-minute, relevant data at their disposal in an easily digestible format so they can make effective decisions.