Survey Finds Having a Defined Supply Chain Strategy Leads to Growth and Performance
- 50 per cent of Canadian businesses have a supply chain strategy in place
- 84 per cent of businesses agree that understanding and effectively managing their supply chain and shipping were key factors in driving growth and profit
- Businesses with a supply chain strategy are 12 per cent more likely to meet or exceed their growth targets compared to those that do not
- 30 per cent of businesses suggested that supply chain and shipping is important, but that it is not a priority because they are too small
MISSISSAUGA, ON, Nov. 5, 2013 /CNW/ - Supply chain strategy has emerged from the shadows and is increasingly being recognized as a key pillar of growth and profit. More than 80 per cent of business leaders agree that a well-managed supply chain is a key competitive advantage in today's global economy. This insight comes at a time when consumers and businesses are increasingly demanding a more consistent experience across the multiple channels and jurisdictions. As a result, businesses are leveraging the power of a streamlined global supply chain in an effort to improve mobility, visibility and scalability.
According to a survey of Canadian businesses commissioned by UPS Canada and conducted by Leger Marketing, 80 per cent of businesses with a supply chain/shipping strategy met or exceeded their growth targets last year, whereas businesses without a defined strategy were 12 per cent less likely to reach their targets.
"These results indicate that businesses with a defined supply chain strategy perform better than those that don't and that businesses of all sizes can leverage this opportunity to increase competitiveness and profitability," said Jim Ramsay, vice-president of Global Freight Forwarding, UPS Canada. "Customers are demanding improved visibility, scalability and mobility — be it via ecommerce or commercial shipping — and the supply chain is essentially the nervous system that delivers the end experience in the most efficient, cost effective manner. High tech and well managed supply chains are a potential cash cow for business."The survey also indicated that of those businesses with a defined strategy, 84 per cent agreed that understanding and effectively managing their supply chain and shipping operations were key factors in driving growth and profit opportunities in the last year.