Consultants, analysts and shippers don't necessarily define 'sense-and-respond' the same way, and their views on the need for greater technology investment may vary as well.
Afraid to let safety stocks get too low, companies often get overwhelmed by their inventory. New ideas, processes and technologies in inventory management can solve that.
While supply chain efficiency is important, companies need to focus more attention on reducing risk to their financial performance resulting from supply chain disruptions.
Shippers today want more from their execution vendors, who are responding with systems that address outsourcing, security, data flow and new trade regulations.
Retailers have been investing in supply chain technology for some time. Now they need to take it to the next level: the store. New technology advancements are making it possible for retailers to cut logistics costs significantly while dramatically improving customer service.
Over the past five years Best Buy Co. has developed a world-class supply chain that supports the company's position as one of the nation's top retailers, while saving millions of dollars in costs.
To meet the ranking's exacting criteria, these companies' supply chains had to be driven by demand forecasting, use cutting edge technology and produce industry leading financial results.
The pressure is on for companies to employ demand-driven strategies - technologies and processes that can "sense" and communicate real-time demand across customers, suppliers and employees.
