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I came across a KPMG study last week covering a survey of 360 senior executives Forbes Insights did in 2016. There were a couple of key takeaways from the report: Manufacturers are planning on growth, but the overall market isn’t likely to grow. This means companies will need to battle for a bigger piece of the pie. The need for supply chain visibility is greater than ever, yet only half of the executives surveyed say they have the visibility they need to make decisions and mitigate risk. Let’s dig into both of these highlights a bit more. Growth within a static market According to the study, most companies are planning to grow by entering new sectors, new geographic areas or by adding to the products and services on offer. The challenge is that other companies are looking to grow (73 percent of companies say growth in the next two years is a high to extremely high priority). “Every company wants profitable growth. But according to our data, today’s manufacturers are much more focused on driving new growth than ever before.” At the same time, baseline growth is expected to be limited. This means that for your company to be successful, you’ll need to outperform the other companies vying for the same market share. Your supply chain plays a key role: getting your product to market with excellent quality, in the quantity needed, at the right price, with the right design. Supply chain visibility This is actually tied to the first point. If you suffer a supply chain failure, you are potentially opening an opportunity for your competitors to steal market share. The study frames this around the need to identify supply chain failure risk factors. “With much now riding on their supply chain’s ability to meet new demands and […]
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