A high number of companies trying to avoid the fallout from rising costs and a slow economy are looking to their supply chains in order to boost growth or save money, it has been reported.
In a survey of 265 managing executives, almost three quarters stated that market pressures ranging from rising fuel costs to rising costs of commodities and foreign competition are forcing them to take another look at their supply chain.
"Over 80 per cent of manufacturers have responded to the current economic climate by devising aggressive agendas to boost sales and cut costs," commented Todd Lavieri, CEO of Archstone Consulting, the company which conducted the survey.
John Ferreira, industrial manufacturing practice leader at Archstone Consulting, told Industry Week: "An interesting pattern emerged, in that manufacturers across the board have high expectations for their supply chains to both boost revenues and reduce costs.
"In the past manufacturers simply used their supply chains as a means to control costs by improving efficiencies. Now, they are using their supply chains as a mechanism to boost revenue and improve customer satisfaction through capabilities like better management of highly customised products, quicker delivery times, and more integrated services."
