There have been major advances over the years in how a business functions as a whole. One of the main differences that can be noticed is the increase of quality products and services offered by a corporation to appease its customers. It can be argued that the Internet has played a vital role in quality winning the battle over quantity when it comes to how a business manages its supply chain efficiency, regardless of its size.
Understanding a consumer’s expectations and adjusting to the quality of product they would like to receive is a discussion that every business needs to have when analyzing how efficiently their supply chain is working. There are many outdated rules of managing business supply chains that are not applicable for a business to be successful in today’s world. Some of those rules pertain to how a corporation markets its general image and how it feels it is viewed by the public. A few outdated ways of thinking are as follows:
- Managing the efficiency of chain and warehouse distribution is not a number one priority for a business to focus on.
- All advertising (TV, direct mail, digital, etc.) needs to appeal to the masses and not to the individual.
- It is more important for a company to build up its accolades than to build up its clientele.
- Marketing should be exclusively focused on selling a product.
- A supply chain is a one-way route – company to consumer.
There has been a substantial increase in the number of product options available to consumers. Hence, it is a consumer-driven business world we are living in. That altered drive has changed the rules that executives utilize to manage their business efficiency in the public eye, especially when it comes to managing the efficiency of a product’s supply chain. Some of the new rules are:
- People want an authentic corporation, not a business that puts up a façade.
- Warehouse distribution and chain distribution need to be managed in the most efficient way possible and cut as much “waste” as possible.
- A reputation is not about the number of awards a corporation can be handed. It is about the number of people it sways to its business. Like Sam Walton said, “There is only one boss: the customer. And he can fire everybody in the company, from the chairman on down, simply by spending his money somewhere else.”
- Public relations is extremely public in today’s age thanks to a barrage of opinions being voiced on the Internet.
These new rules have also shifted the dynamics of how a corporation must deliver a more quality product. Because of the drastic changes in how a company can be viewed and critiqued from multiple angles on the Web, there must be a change in the way a corporation operates, more specifically in the steps that make up a company’s business supply chain.
From the fundamental beginnings of a product being designed and engineered, to the outlining of how and where it will be purchased, to a genuine focus on the layout and logistics of that product being distributed from warehouses all across the country, and all the way to the post-purchase sales service that a corporation offers, a company needs to remember the new rules of marketing. In particular, managing a supply chain’s efficiency has become a vital point to consider. Fortunately, there are consulting companies that can help your business create a more efficient supply chain.
There are plenty of ways that a corporation can be held in check by the way they function as a whole. Every business in today’s world needs to steer clear of the old rules of managing an inefficient, wasteful system, and they need to remember to manage the efficiency of the product they are delivering to their consumers. Doing so will only help them keep pace in the years to come.