No matter how hard you work to reduce uncertainty in your supply chain, you'll still have to make critical "bets" before key data become available. This three-step approach to decision making will improve your chances of making the right calls.
By laying the proper groundwork and working effectively with their peer group, middle managers can gradually implement lean practices and make big operational improvements—without leadership from the top.
When fast growth led to unacceptably high logistics and inventory costs, the Austrian spice maker Kotányi implemented a supply chain management program to get things under control. That investment helped the company to expand its business and market share while cutting inventory and logistics costs.
Companies need to work with their suppliers, restrain cost cutting, and stick to fundamental supply chain strategies to ensure that their supply chains are ready to move forward when the economy recovers.