What is a Global Supply Chain Strategy?
A global supply chain strategy is a comprehensive plan for companies to optimize their global supply chain operations. It considers factors such as logistics, risk management, and efficiency, and outlines clear goals and actions that can be taken to increase efficiency, reduce costs, and improve customer service. The strategy should be tailored to the company's specific needs and should be regularly updated to account for new developments and changes in the industry.
What's included in this Global Supply Chain Strategy template?
- 3 focus areas
- 6 objectives
- 6 projects
- 6 KPIs
Each focus area has its own objectives, projects, and KPIs to ensure that the strategy is comprehensive and effective.
Who is the Global Supply Chain Strategy template for?
The Global Supply Chain Strategy template is designed for multinational companies that are looking to increase efficiency, reduce costs, and improve customer service. It is a comprehensive plan that outlines the steps that need to be taken to optimize their global supply chain operations. The template provides a roadmap for companies to follow to ensure their global supply chain strategies are effective and up-to-date.
1. Define clear examples of your focus areas
Focus areas are the broad categories that your strategy should address. Examples of focus areas in global supply chain strategies include risk management, logistics, efficiency, and customer service. The strategy should identify the goals and objectives that fall into each focus area and then outline the actions and projects that need to be taken to achieve them.
2. Think about the objectives that could fall under that focus area
Objectives are the specific goals that the strategy should focus on. These should be SMART goals—specific, measurable, achievable, relevant, and time-bound—that are tailored to the company's needs and capabilities. Objectives should be tied to the focus areas, and they should be achievable within a reasonable timeline. Examples of some objectives for the focus area of Risk Management could be: Develop a Risk Management Strategy, and Increase supply chain visibility.
3. Set measurable targets (KPIs) to tackle the objective
KPIs (key performance indicators) are the metrics that will measure the success of the objectives. These should be measurable targets that track progress toward the objectives and inform decision-making. KPIs should be specific and relevant to each objective and should be updated regularly so that the strategy remains up-to-date. An example of a KPI for the focus area of Risk Management could be: Reduce unplanned outages by 30%.
4. Implement related projects to achieve the KPIs
Projects are the actions that need to be taken to achieve the objectives and KPIs. Projects should be tailored to the company's specific needs and should be achievable within the timeline set by the objectives. Projects should also be regularly monitored and updated as necessary. An example of a project related to Risk Management could be: Create a risk management plan.
5. Utilize Cascade Strategy Execution Platform to see faster results from your strategy
Cascade Strategy Execution Platform allows teams to easily create, manage, and monitor their global supply chain strategies. With powerful analytics and reporting tools, teams can quickly identify areas of improvement and implement changes to ensure their strategies are up-to-date and effective. The platform also provides users with access to expert advice and best practices to help them get the most out of their strategies.