No vertical market appears to be immune to the hardships and challenges resulting from the unprecedented uncertainty and volatility of today’s geopolitical strife, climate disasters, and global pandemics. Which makes it even that much more challenging for organizations to try to meet consumer preferences and requirements that are always changing.
All of this uncertainty underscores the importance for organizations to focus on optimizing all facets of their supply chain costs—including cost-to-source, cost-to-procure, cost-to-manufacture, logistics, and handing. Supply chain optimization must also factor in the direct labor that drives supply chain activities in manufacturing, distribution, and retail. Total cost has never been more critical to understand and control—regardless of an organization’s industry or sector.