We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • INDUSTRY PRESS ROOM
  • SUBMISSIONS
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
  • STRATEGY
  • GLOBAL
  • LOGISTICS
  • MANUFACTURING
  • PROCUREMENT
  • VIDEO
    • News & Exclusives
    • Viewer Contributed
    • CSCMP EDGE 2022 Startup Alley
    • Upload your video
  • PODCAST ETC
    • Podcast
    • White Papers
    • Webcasts
    • Events
    • Blogs
      • Reflections
      • SCQ Forum
    • Mobile Apps
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
  • STRATEGY
  • GLOBAL
  • LOGISTICS
  • MANUFACTURING
  • PROCUREMENT
  • VIDEO
    • News & Exclusives
    • Viewer Contributed
    • CSCMP EDGE 2022 Startup Alley
    • Upload your video
  • PODCAST ETC
    • Podcast
    • White Papers
    • Webcasts
    • Events
    • Blogs
      • Reflections
      • SCQ Forum
    • Mobile Apps
Home » Study finds 10 ways to improve supply chain collaboration
Forward Thinking

Study finds 10 ways to improve supply chain collaboration

April 10, 2017
Supply Chain Quarterly Staff
No Comments

Companies that are looking for ways to streamline their supply chains need to pick their partners carefully in order to tap into the benefits of collaboration, a procurement industry analyst firm said Friday.

Improving supply chain collaboration can deliver business returns such as fostering innovation, reducing costs, increasing business opportunities, and establishing long-term success, according to the report from market intelligence firm SpendEdge, a London-based company with U.S. offices in Elmhurst, Ill.

Achieving that collaboration can be hard to do, however, so SpendEdge has compiled its "List of Top 10 Ways to Implement Supply Chain Collaboration." Those best practices include:

  • Select your partners carefully. Consider things other than size when selecting a partner for supply chain collaboration, looking also at value, common interests, shared strategies, infrastructure, and processes.
  • Collaborate in areas of shared stability or success instead of trying to fill in gaps or compensate for weaknesses.
  • Define the terms and extent of the collaboration, such as what the collaboration will consist of, the time period that it will cover, and how it will be executed
  • Identify mutual goals by considering what you and your partners want to achieve: Increasing profits? Entering new markets? Lowering acquisition costs? Improving logistics management?
  • Use sophisticated benefit-sharing agreements where both parties can profit equally, albeit in different ways.
  • Adopt a joint performance management system, agreeing on metrics and methods such as sharing the same performance management system, supply chain software, and procurement operations solutions.
  • Optimize your workforce and infrastructure, ensuring that all partners have the right staff, resources, and organizational systems to succeed.
  • Engage in long-term collaboration between enterprises, as opposed to shorter-lived individual operations, so partners can foster innovation through long-term investments.
  • Ensure successful communication, sharing any issues or obstacles encountered at any stage of the supply chain and working together to eliminate them.
  • Establish sustainable funding, agreeing on costs over the pre-determined time frame.
    • Related Articles

      Six ways to improve supply chain risk management

      Study finds that companies are struggling to handle supply chain complexity

      Study finds stores are weak link in omnichannel supply chain

    Recent Articles by Supply Chain Quarterly Staff

    Saddle Creek adds 1.8 million square feet of warehouse space in four markets

    Penske’s 3PL arm to expand brokerage capabilities with new offices in Chicago and NJ

    ERP vendor Aptean acquires TMS provider TOTALogistix

    You must login or register in order to post a comment.

    Report Abusive Comment

    Most Popular Articles

    • Report: Sagging freight stats show that trucking sector is returning to its historic mean

    • Survey: parcel delivery drivers are frustrated by using their own smartphones for work

    • Heavy transport across two continents

    • Survey: most Americans unaware that truckers face shortage of parking spaces

    • Supply chain executives not yet seeing expected results from technology investments

    Featured Video

    20221107korber large vs

    Enhancing Customer Experience with Your Supply Chain Strategy

    Viewer Contributed
    With the rise of e-commerce, many businesses have had to transform their warehouses to handle online orders in addition to regularly scheduled inventory shipments. This means warehouses need more information than ever before to ensure they can meet customers' needs. As a result, companies need to select warehouse...

    FEATURED WHITE PAPERS

    • Three layers of forklift safety: Promoting operating best practices

    • The Complete Guide to Automated Packaging

    • Five tips for parcel success in 2023

    • Guide to Pallet Rack Safety

    View More

    Subscribe to Supply Chain Quarterly

    Get Your Subscription
    • SUBSCRIBE
    • E-NEWSLETTERS
    • ADVERTISING
    • CUSTOMER CARE
    • CONTACT
    • ABOUT
    • STAFF
    • PRIVACY POLICY

    Copyright ©2023. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing