Why the Fourth Industrial Revolution Requires More Supply Chain CEOs
CEOs need to transform businesses – an imperative which is increasingly relevant in the Fourth Industrial Revolution. Apparently, as the supply chain stretches across the entire business operation, the flow and transformation of materials and parts into goods and value to customers brings CEOs to the test. How then can CEOs lead change in times of disruption and uncertainty brought about by rapid technological advancement?
The supply chain is the backbone of the economy and the lifeline of any business. Recently, several chief executive officers (CEOs) from larger players like John Deere, Tyson Foods, and General Mills stated that their financial performance was hurt by the inefficiency of supply chains. The chain has to deliver the value promised to customers and society – visibility is therefore a king. According to the Geodis 2017 Supply Chain Worldwide Survey, supply chain visibility is the third most important priority in 2017, up from the fifth place in 2015. However, only 6% of the 623 respondents said they had achieved full visibility across the chain. As the supply chain stretches across the entire business operation, the flow and transformation of materials and parts into goods and value to customers brings CEOs to the test. Furthermore, in the Fourth Industrial Revolution, it is the supply chain that is the ultimate strategic differentiator. Companies that fail to transform their supply-driven chains into intelligent customer-centric systems will struggle to succeed – sooner than
