Supply Chain Reaction: Smart Partnerships Cut Costs

Apr 23, 2001, 01:00 ET from Best Practices, LLC

    CHAPEL HILL, N.C., April 20 /PRNewswire Interactive News Release/ --
     The world's most profitable supply chains revolve around process-based
 relationships that integrate suppliers throughout the product's lifecycle,
 according to a report from global benchmarking leader Best Practices, LLC.
 Managers who overlook the "partner" aspect of a supply chain relationship
 consistently yield lower profit margins due to higher processing errors and
 supply costs.
     "Best Practices in Supply Chain Partnership and Certification," available
 online at http://www.benchmarkingreports.com, reveals how top companies have
 improved supplier certification and partnership to cut lead times and
 inventory by more than 50 percent and boast 100 percent elimination of
 processing errors and paperwork.  The study contains detailed analysis of how
 benchmarked companies partner with suppliers to meet supply chain improvement
 goals.
     "Best Practices in Supply Chain Partnership and Certification" highlights
 top-performing supply chain management strategies and winning insights from
 more than 150 leading companies.  Drawing from in-depth interviews and
 research, the report compiles lessons learned, best practices and sample
 system review grade sheets from top companies across more than 31 different
 industries.
     Other areas identified as key drivers of supply chain management success
 include:
 
     * Aligning supply chain management systems with strategic initiatives.
       Companies that excel view a supplier relationship as a true
       "partnership," one in which the two companies work together to realize
       mutual gains and strategic goals.
     * Forging partnerships with suppliers.  Many innovative companies select
       suppliers according to various criteria that go beyond traditional cost-
       per-unit considerations.  Through coordination across the supply chain,
       these companies are able to pool talents and resources.
     * Certifying supplier-partners.  Certification establishes a common
       language for communication and fosters an increased level of trust and
       understanding between partners.
 
     For more information about this report or other business operations
 studies, contact Elio Evangelista at (919) 403-0251 ext. 240.  To purchase the
 report directly or to view the executive summary visit
 http://www.benchmarkingreports.com/pr/op70.htm .
 
     ABOUT BEST PRACTICES, LLC
     Best Practices, LLC, of Chapel Hill, NC, conducts work based on the
 principle that organizations can chart a course to superior economic
 performance by studying the best business practices, operating tactics, and
 winning strategies of world-class organizations.  For more information about
 Best Practices, LLC, call 919-403-0251 or visit the corporate website at
 http://www.best-in-class.com/
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X69244381
 
 

SOURCE Best Practices, LLC
    CHAPEL HILL, N.C., April 20 /PRNewswire Interactive News Release/ --
     The world's most profitable supply chains revolve around process-based
 relationships that integrate suppliers throughout the product's lifecycle,
 according to a report from global benchmarking leader Best Practices, LLC.
 Managers who overlook the "partner" aspect of a supply chain relationship
 consistently yield lower profit margins due to higher processing errors and
 supply costs.
     "Best Practices in Supply Chain Partnership and Certification," available
 online at http://www.benchmarkingreports.com, reveals how top companies have
 improved supplier certification and partnership to cut lead times and
 inventory by more than 50 percent and boast 100 percent elimination of
 processing errors and paperwork.  The study contains detailed analysis of how
 benchmarked companies partner with suppliers to meet supply chain improvement
 goals.
     "Best Practices in Supply Chain Partnership and Certification" highlights
 top-performing supply chain management strategies and winning insights from
 more than 150 leading companies.  Drawing from in-depth interviews and
 research, the report compiles lessons learned, best practices and sample
 system review grade sheets from top companies across more than 31 different
 industries.
     Other areas identified as key drivers of supply chain management success
 include:
 
     * Aligning supply chain management systems with strategic initiatives.
       Companies that excel view a supplier relationship as a true
       "partnership," one in which the two companies work together to realize
       mutual gains and strategic goals.
     * Forging partnerships with suppliers.  Many innovative companies select
       suppliers according to various criteria that go beyond traditional cost-
       per-unit considerations.  Through coordination across the supply chain,
       these companies are able to pool talents and resources.
     * Certifying supplier-partners.  Certification establishes a common
       language for communication and fosters an increased level of trust and
       understanding between partners.
 
     For more information about this report or other business operations
 studies, contact Elio Evangelista at (919) 403-0251 ext. 240.  To purchase the
 report directly or to view the executive summary visit
 http://www.benchmarkingreports.com/pr/op70.htm .
 
     ABOUT BEST PRACTICES, LLC
     Best Practices, LLC, of Chapel Hill, NC, conducts work based on the
 principle that organizations can chart a course to superior economic
 performance by studying the best business practices, operating tactics, and
 winning strategies of world-class organizations.  For more information about
 Best Practices, LLC, call 919-403-0251 or visit the corporate website at
 http://www.best-in-class.com/
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X69244381
 
 SOURCE  Best Practices, LLC