The latest Institute for Supply Management semiannual forecast, released in December, outlined how purchasing and supply executives plan to improve their supply chain management practices in 2011. This semiannual report is always a good way to gauge how your plans to serve your customers mesh with their plans and needs.
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Manufacturing executives reported they plan to:
- Improve inventory and asset management
- Reduce costs
- Work closer with suppliers and establish better metrics
- Consolidate suppliers
- Better manage risk
Non-manufacturing executives reported they plan to:
- Improve processes
- Leverage their use of technology
- Employ product rationalization
- Consolidate suppliers
- Improve inventory management
- Employ strategic cost management
Many of the above strategies are also being employed by distributors, as I outlined in my article: 6 Trends Driving Distribution in 2010.
Read ISM's full semiannual forecast.
We published a summary of the forecast in the Dec. 25 issue of MDM Premium.
