Global flattening and the exponential advances in technology are revolutionizing the way we live and do business! This is an era where mind boggling advances in a new digital infrastructure, changes in public policy and the effects of globalization are enabling unknown companies to emerge overnight and dominate industries using information and time as competitive weapons. Thomas Friedman wrote about this in his best-selling book “The World is Flat”, as well as countless others in leading publications such as the Harvard Business Review and the Economist.
It’s an undeniable fact that the new economy works across borders, languages, currencies and cultures. It’s also an inescapable fact that the dynamics of legacy supply chain processes and incumbent business relationships make it difficult to adapt to these international realities and new competitive landscape.
How do you respond to globalization? For too long we have focused on traditional performance improvement areas “within the four walls” and with continually diminishing returns. We need order of magnitude, game-changing improvements, not percentage point improvements. A company’s success in the new economy is increasingly less dependent on individual performance and more dependent on the overall success of the supply chains they participate in. The supply chain that can satisfy the needs of the customer better – wins.
Companies need to look outside their four walls, embrace change, embrace new technologies and eliminate the barriers throughout their extended value chain that impede the flow of information and decisions. Time is a company’s most valuable asset and those with the greatest return on time can respond quicker, out-think and out-maneuver the competition. Speed is a devastating competitive advantage in sports, politics, war and business. In this ‘Flattened’ new world where supply chains compete with supply chains time-based competitive advantage is the “game-changer”!
So, now is the time to step up and employ the new mindsets and technologies that can create your game-changing competitive advantage!