APICS Brandywine Valley Chapter President
In the contest that is business, these are the competitors:
- the strong vs. the weak
- the big vs. the small
- the big fish with deep pockets vs. the small fish with limited resources
- the established vs. the upstart new comer
But watching the world around me, I think the contest has changed. It is now: THE FAST VS. THE SLOW! And the companies that get their products and services out there first, WIN!
Think about that quarterback trade that occurred just before the season started. What company was the most successful in bringing out the replica souvenir team jersey with that name and number on the back? The one that was in the stores first, right? One company had them available the same day the trade was announced!! That is agility and just-plain speed (and a good bit of preparedness). Their sales that first day ensured their success vs. their competitors.
Speed equals velocity. How quickly can you turn your orders around? How quickly does your inventory turn? Do your new products hit their target introduction date? Think about the producer of commodity products (for example, paper clips). How do they successfully compete? I believe it’s by having their products in the right place at the right time, at the lowest overall supply chain cost. And that’s the result of high velocity in all their supply chain processes.
In addition to the well-known characteristics of product quality (defect-free, robustness, consistency, etc), I’ve added the service characteristics of on-time and timely delivery, accuracy, and hassle-free. That is a major part of customer satisfaction. That is velocity. That is supply chain. That is what we (APICS) do.
On a different topic, please join us at our Professional Development Meeting on October 13th for a very interesting topic. Sherry Read, an Executive Coach, will be speaking on “Expert Leadership.” She will share with us how we all can develop and demonstrate improved leadership skills in ourselves and our teams. You can find more on this topic and register for the PDM here.
Al Leigh, President APICS-SDELV