It’s mutually beneficial for the supply chain and suppliers to work together to improve efficiency and reduce costs. Whereas coordination with suppliers is widely acknowledged as necessary, it’s important to ensure that supplier collaboration extends into supply chain planning. Organizations that do this to a very great extent report faster customer order and cash-to-cash cycle times. Similarly, the use of predictive analytics to reduce risk has beneficial impacts.
Read this performance driver from APQC’s Supply Chain Planning: Blueprint for Success.