A total of 89% of respondents ranked ‘identifying and managing change’ as their top business objective in this year’s Barloworld Logistics Supplychainforesight 2015 survey on key strategic business objectives over the next 5 to10 years.
‘Growth and expansion into new markets’ was ranked the second highest business objective, and is a continuing theme from last year’s Supplychainforesight (‘the rise and fall of customers and companies’).
Supplychainforesight is compiled annually by Barloworld Logistics to discuss the main objectives of supply chains within organisations. This year’s theme was ‘embracing change for a sustainable future’.
Introducing new products and services into a supply chain or into an organisation can be daunting and it may be difficult for personnel to adapt to the changed environment. Implementing change in a business requires a balance between retaining the ability to sustain current incomes whilst introducing and developing new opportunities. Such a balance is more readily achieved in an environment of flexibility, agility and responsiveness, noted the survey report.
An environment conducive to change has the potential to produce good feedback when change has been communicated properly to personnel and implemented accordingly. However, in order to bring about solutions within the organisation change management strategies and tactics must be adapted to suit the change situation.
Meanwhile, some of the business objectives that ranked low in 2014’s survey data, such as ‘diversification and acquisitive growth’, have taken higher rankings in 2015. The survey report noted that this climb in the rankings reflects a shift in the objectives that respondents view as relevant to supply chain management.
Compared with 2014, “a much higher percentage of respondents ranked using the supply chain as a competitive advantage, indicating the core role supply chains play in business strategies”, said the 2015 survey report.
Although respondents ranked some strategic business objectives lower than others, these objectives still form a bigger picture of the company, in terms of how it is perceived in the market, and these strategic business objectives need to be looked into or rather focussed on to maintain a balance in the supply chain.
Images courtesy of the Barloworld Logistics Supplychainforesight 2015 report