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Business Strategy Alignment: Page 453

Industrial Machinery Will Be Export-Import Growth Engine for Next 10 Years or So

Industrial machinery is expected to be the top driver of U.S. export and import trade now and in the next decade, according to the latest HSBC Commercial Banking Trade Forecast.

Survey Reveals Strong Growth Within the U.S. Manufacturing Industry

Nearly three out of four leaders within the manufacturing industry have either expanded their product or service offerings in the past year, or plan to expand them in the coming year, according to a survey conducted by Travelers Companies.

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Linking Sustainability with Financial Outcomes in CPG

Analyst Insight: Sustainability has been on consumer packaged goods executives' minds - and part of their strategic plans - for some time now. In the past, many companies have pursued sustainability because they saw it as the right thing to do. At the same time, sustainability also creates positive morale among employees, helps to meet regulations such as those for emissions, and boosts companies' reputations. But only recently has sustainability truly been connected and aligned with financial performance. - Bruce Tompkins, Executive Director, Tompkins Supply Chain Consortium

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In Customer Relationship Management, You Must Adapt to Stay Relevant

Analyst Insight: Even a solid collaborative relationship between the buyer and the supplier can struggle if the consumer somehow gets lost in the cloud or pigeonholed on a complicated supply chain dashboard. The key is to listen to your customers constantly and set up communications frameworks within an adaptable governance structure to include and maintain a customer-centric focus. - Kate Vitasek, faculty, University of Tennessee's Center for Executive Education, and Founder, Supply Chain Visions

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Focus on Product Grows, But Cost Reduction Remains Key in CPG Industry

Analyst Insight: In a recent supply chain survey conducted by IDC Manufacturing Insights, consumer products manufacturers consider themselves stewards of product quality more frequently than of either cost or service. Interestingly, the gap between companies that consider themselves primarily stewards of product quality versus cost is narrowest for the large enterprise manufacturers, suggesting that for the smaller players, it is the product itself that drives competitive success in the marketplace. - Simon Ellis, Director, Supply Chain Strategies Practice, IDC Manufacturing Insights

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Lean Is About More Muscle, Not Just Less Fat

When people are asked to define lean, as often as not the definition centers on waste. But lean isn't all about waste. It is more about building organizations than trimming them. A popular definition is "do more with less."

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You Don't Have a Big Data Problem. You Have Hundreds of Little Data Problems

Many manufacturing and distribution companies are wrestling with the enormous challenge of Big Data, trying to turn mountains of data into actionable information. And while some companies curse the landslide of data overwhelming their organizations, others look to capitalize on what they realize is an opportunity to better understand their customers, suppliers and costs. But the challenge is more nuanced than sculpting a huge collection of unwieldy data.

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In 2013, Transfer Pricing Is No. 2 Headache for Multinationals' Tax Directors

What's been keeping tax directors of large multinational corporations up at night recently? The same issue that provided millions of dollars in tax relief a few years before: transfer pricing.

Managing Intersection of Marketing, Operations Is Strategic Lever to Competitive Advantage

Analyst Insight: Simply stated, the marketing mission of any business is to profitably create "something" that a customer will buy. The operational objective of the business is to deliver the "something" to the satisfaction of the customer. The financial objective is to charge a fee equivalent to the customer's perceived value while generating a return on the capital investment the business made to create "something." - Rich Sherman, Supply Chain Discipline Expert at Trissential

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Creating a Unifying 'Big Picture'

Analyst Insight: The number one strategy for high-impact business performance is organizational and supply chain strategic alignment, coupled with effective supply chain segmentation. The hyper competitive supply chain landscape is a new normal. To compete leading organizations need to restructure in order to breakdown functional silos, create enterprise unification around common goals, and use technology and "big data" to create a "big picture" understanding of organizational goals. - Nada R. Sanders, Professor of Supply Chain Management and Iacocca Chair, Lehigh University

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5 Steps to Better Data for Supply Chain Decision-Making

In today's environment of Big Data and analytics, effective supply chain decision-making is only as good as the data influencing the decisions. Drawing actionable conclusions based on the best information possible is critical to maintaining a supply chain that is efficient and effective, but also acts as a continual driver of strategic and competitive advantage. But how can your organization ensure that the data used to draw conclusions and make decisions regarding the supply chain is clean, relevant and accurate?

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How Ambidextrous Is Your Company, Especially in Dynamic, Emerging Environments?

Managers today face an apparent contradiction. On one hand, austerity in the developed world and intense competition push them to cut costs and drive efficiencies. On the other, the increasing pace of change means they need to emphasize innovation. Resolving this contradiction requires ambidexterity"” the ability to both explore new avenues and exploit existing ones.

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