Having an effective supply chain strategy is the first step on the road to business success, one expert has stated.
Anil Khurana, a director at PRTM Management Consultants, told the National that many companies were left high and dry by the eruption of the Icelandic volcano earlier this year and this resulted in logistical chaos.
However, he noted that those which had an effective supply chain strategy already had contingency plans in place to deal with such an occurrence.
It comes after the publication of the PRTM Global Supply Chain Trends 2010-2012 report, which polled 350 organisations worldwide to see how they had dealt with the challenges posed by the volcanic eruption and the economic downturn.
"A key finding in our study is that generally, senior management in the GCC are optimistic about economic recovery but their global operations are ill-prepared to meet a significant upturn in demand," Mr Khurana explained.
He added that the companies with the most effective supply chain strategies in the next two years will likely be the most successful.
