What is a Supply Chain strategy?
A Supply Chain strategy focuses on internal horizontal and vertical organizational processes undertaken to ultimately deliver value to customers whilst creating a profit.
What's included in this Supply Chain strategy template?
- Supply chain Vision Statement
- 4x Supply chain Values
- 4x Supply chain Focus Areas
- 11x Supply chain Objectives
- 13x Supply chain Projects
- 22x Supply chain KPIs
Who is this Supply Chain strategy template for?
A Supply Chain strategy template is used in almost every type of industry and organization. More specifically, within organizations, such strategies are managed by heads of departments, line managers, and CEOs. This information also proves vital to subgroups such as channel supply partners like wholesalers/distributors, retailers and merchandisers. These are individuals who are considered the intermediaries of supplying the product and hence need knowledge of who they are targeting and the end outcomes they wish to achieve.
How is this Supply Chain strategy template relevant to your organization?
Such a template helps companies better understand how to work with their products' distributors and vendors, which ultimately helps them improve operational efficiencies to then drive down costs.
1. Define clear examples of your focus areas
In order to initially devise and delegate goals and tasks for yourself and other individuals in your organization to carry out, you must first divide the goals you want to achieve into broader, more loosely defined areas. You can come up with these areas by thinking of your Supply Chain plan from a departmental perspective, else you can focus on narrower interdepartmental perspectives.
An example of focus areas for a Supply Chain plan could be Marketing and Sales, Retail, Human Resources, and IT & Logistics.
2. Think about the objectives that could fall under that focus area
In a similar way to the focus areas you devise, you can also accordingly devise how expansive you want your objectives to be. Your objectives should encompass some elements of SMART goals- however, the time and measurable component of them can easily be tracked on the side of the goal (view this link to find out how).
Objectives for the Human Resources focus area could be Achieve Organizational Wellbeing; Develop the recruitment process; Improve employee engagement and involvement.
3. Set yourself measurable targets (KPIs) to tackle the objective
Objectives aren’t the only component of your strategic plan that can be measured and tracked; you can also set various performance indicators that can also be measured and tracked alongside. The KPIs you set should generally relate to the Objective you set and by setting multiple KPIs you can ensure they all fit under and collectively cover the entire time frame for the objective.
For instance, some potential KPIs for the Objective of Achieving Organizational Well-being can be Double employee engagement opportunities and Reduce personal social media time. The entire Objective Duration can be 6 months, whereas each of these KPIs can only last around 3 months each.
4. Implement related projects to achieve the KPIs
It’s impossible to achieve your goals if you don’t have implementable actions set in place. Setting projects can help hold you accountable to actually take steps to achieve your objectives.
Examples of projects you can initiate to achieve organizational well-being can be conducting fortnightly performance reviews and initiating other employee benefits and perks, e.g. gym passes for all employees.
5. Utilize Cascade tools to track and visualize performance
Besides holding yourself accountable through actionable indicators, you can also use the Cascade Dashboard and the widgets available to visually display your KPIs and goals. You can add widgets in the form of tables and charts (just to name a few) and appropriately track your KPI and progress on each widget created, as well as your projects.