Businesses looking to improve their supply chain strategies and benefit from greater efficiency should seek to emulate the traits of industry leaders, it has been claimed.
Writing for Supply Chain Management Review, Frank Quinn said small organisations can make effective changes to their operations by following the lead of established companies.
Among the "differentiating traits" of such leaders, he cited proficiency in planning, excellent logistics execution and a strong focus on financial metrics as the most important aspects.
"There are six others, and underpinning all of them is a sound supply chain strategy that is supported by leadership at the top," Mr Quinn added.
Businesses focusing on cost reduction during the downturn might also benefit from following the example of major industry players after UK retailer Marks and Spencer released its second-quarter financial results earlier this week.
The group reported a 2.7 per cent increase in sales compared with the previous three months, despite expectations from many analysts that figures would fall again.
Chief executive officer Stuart Rose cited greater efficiencies in the supply chain as the main reason behind the turnaround, with improved stock control, sourcing and supply chain management helping to slash costs.
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