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Follow on Google News | New summary available for The New Supply Chain AgendaBy: bizsum.com According to the authors: *Supply chain management involves the integration of supply and demand management within and among companies. The supply chain encompasses planning and managing sourcing, procurement, conversion, and logistics management, including working with channel partners. *Effective supply chain management drives economic profit, which in turn drives shareholder value. Improved supply chain controls free cash reserves by leveraging inventory and working capital. *Companies need a proper balance between operational imperatives (e.g., transportation, order management, facilities, inventory, and cash flow) and long-term strategic objectives. Many companies cite short-term thinking as the greatest barrier to supply chain excellence. *Executives who build and run excellent supply chains share five key skills and talents. People hired or groomed for top-level supply chain positions should exhibit global orientation, systems thinking, inspiring and influential leadership, technical savviness, and superior business skills. *Leaders must select and apply the right technologies- *Vertical functional barriers impede the path to supply chain excellence. Aligning the internal functional silos requires the concerted effort of an organization's supply chain executives, CEO, and COO. *People management is the most important part of any project's success. People issues are nearly always more challenging than technological issues. For more information, please visit www.bizsum.com End
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