The global economy is making a pivot from just in time to just in case and there are opportunities to unleash supply chain innovation. As noted in a USA WIRE article, supply chain innovation is underway. From the private sector all the way to strategic partnerships between Industries and Trade Associations, collaboration and outside the box thinking is happening in real time.
American Eagle’s Chief Supply Chain Executive Shekar Natarajan is working to unclog retail supply chains and modernize them. The company created a supply chain that can be shared among different companies with an end goal of squeezing out inefficiencies and satisfying customers. It’s a strategic partnership strategy, and it’s a frenemy network too where retail companies share resources to drive down costs and increase efficiencies. In a time where companies are hyper focused on narrow margins and profitability challenges it’s a model that is proving its effectiveness.
Opportunities similar to the American Eagle frenemy supply chain network are also possible between Industries and Trade Associations. As shared in a podcast How Trade Associations Enable Supply Chains to Capture Growth, there are endless possibilities for Industries to build these relationships with Trade Associations and leverage them to develop precompetitive solutions to deliver policy solutions, advocacy strategies, and roadmaps that could help achieve more effective and efficient supply chains.
There must be greater and more strategic effort driven by the supply chains themselves in order to achieve the type of durability that consumers expect. Moving forward success will be built around innovation and collaboration among the industry itself. The way forward that makes the most sense is through Industry and Trade Association Strategic Partnerships. This is the pathway that will help unleash Supply Chain Innovation in 2023 and beyond.
Book Dan Varroney as a speaker for your meeting, conference or group and learn how to tap into the potential of strategic partnerships with industry associations from the author of the groundbreaking new book, Reimagining Industry Growth.