Supply chain managers considering how to streamline their company's operations should not make the mistake of only focusing on cost, one expert has said.
According to a new report from KPMG, cost is still the key issue among 66 per cent of supply chain managers.
However, 63 per cent of respondents agree that more attention should be paid to non-financial elements of the supply chain, while 38 per cent believe that an "acute focus" on cost has harmed relationships with suppliers.
Jeff Dobbs, global head of diversified industrials for KPMG, pointed to other findings from the survey which noted how many of the world's leading companies are applying new methods of supply chain management designed to weather an economic climate where various forms of risk have become normal.
"Those businesses that continue to follow the traditional 'low cost or bust' models in supply chain management are at risk of losing a foothold in the market," he added.
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