July 13, 2016
Just returning from meeting with my global advisory board in Sydney, I happened to speak to the International Business Group of ProVisors yesterday on “Global Supply Chain Partners: Associations, Networks & Resources”. Thus, I’ve been thinking about the importance of international considerations – regardless of the business. I cannot think of a client that doesn’t have some sort of international consideration – ranging from owning, partnering or sourcing manufacturing in China or Mexico to sourcing materials and parts from around the world to purchasing machinery from international companies to supporting customers globally to being impacted by global competition…..and the list goes on.
Expanding your thought process to include global can positively impact growth, profit, company value, cash flow and service – doesn’t that sound like a no-brainer? That’s one of the reasons my APICS Chapter has put together the theme “Navigating the Global Supply Chain” for the next executive panel and networking symposium (see below).
One tip to implement this week:
The first step to navigating the global marketplace is to be aware.
If you are a CEO, business owner or GM, set aside time to think about global implications for your business. What are they today? What do you expect them to be next quarter and next year? What would you like them to be? There is vast opportunity. For example, I know of several highly successful companies that have pursued the underutilized opportunities in exports alone. There are so many more, I could write a book on this topic alone.
If you are a process owner, set aside time to think and brainstorm with your team about global impacts that affect your area of expertise. Understand them. Are there opportunities to pursue? I’d be hard-pressed to find a business that couldn’t find an opportunity in this arena. Find one and put together your thoughts, ideas and recommendations. Soon, you’ll be ready to run it by your peers and senior leaders. New worlds of opportunity will open.