Companies with the best supply chains in their industry sector tend to achieve better business and financial results, according to a new survey.
Research by the Massachusetts Institute of Technology and TruEconomy Consulting revealed a strong correlation between robust supply chain strategies and economic performance.
Results for businesses with best-in-class supply chains were generally better than their competitors with inferior supply chains.
The survey consisted of three sections with questions for chief executive officers based on executive agendas, questions for chief financial officers centred on business performance, and questions for supply chain executives based on supply chain strategies.
Roughly 200 companies took part with just under half of those completing all three sections of the survey.
According to the Bank of England, supply chains have taken a hit in this country as a result of the recession. In its quarterly bulletin the bank said the damage may be greater than previously thought, the Financial Times reported.
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