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Profit improvement initiatives in Supply Chain often leave out some high impact areas.
Supply Chain teams identify profit improvement initiatives from time to time. While some of these pertain to revenue enhancement, others mostly focus on cost reduction. My experience in working with companies indicates that some of the most impactful initiatives are often missed.
The most common miss is availability and freshness improvement, both of which can enhance revenue substantially and reduce cost simultaneously. Another common miss is quality improvement, which saves cost if done correctly, while enhancing consumer retention rates.
A recurring theme behind these misses is our ‘limiting beliefs’ that improving availability, freshness, and quality comes at an additional cost. Once we let go of this ‘limiting belief’, we open doors to substantial profit improvement, often more than all other initiatives put together!
Are you game for trying it out in your context?