Essay Sample. Seven Best Practices for the Supply Chain by 2025

Today, successful companies' supply chain is a result of implementing previous best practices plans. The supply chain, like any other sector, has been experiencing a technological change due to various approaches by different firms. The global risk management supply chain has projected various analytical tools in the trading sectors like banking. These projections have given many managers a platform of conspiring internal factors in preparation to blend-fold the technological change. The essential seven supply chain projection plans target upon the year 2025 are discussed in this paper and analyzed with a personal view.

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The center of excellence is a criterion of piloting initiatives in different forms and has been used for years. The projection plan entails this as a core determinant. I view this as a tactic of standardizing business processes and giving a platform for managers to learn from. I think that the center of excellence can lack the best results due to the political lighting rod exclusion. CoE requires strong executive sponsorship and a high level of management. From this, I advise the company managers to improve the management squad and tactics for better plan success. From the research, companies tend to shift from extreme centralization and decentralization but once at a time. In my opinion, consolidation brings efficiency and cost control. Decentralization sounds to me like flexibility in the market supply chain. For significant progress to the 2025 vision, companies should combine centralization and decentralization simultaneously. That minimizes the gaps between risks and success.

Plan on IP and Patent protection management. Fraud, breaching, and piracy continues to grow with technology. Companies have been affected, but measure to curb these issues is a strategic plan for 2025 vision of supply chain. In my view, these incidences can only be minimized by Patents and Copyrights. The example of Seagate technology and apple companies are good indicators of what should be done by such companies before 2025. The supply chain will improve from the shield by Patents, and from this, global businesses will have a unifying theme in the supply chain. I support Tarantino in his quote, "I don't think there exists local supply anymore." Besides, the quantitative analysis for risk management will trigger the minimization of the bank catastrophic. Black swans and supply chain risk management will aid in reducing catastrophes in a better dimension through the implementation of street reform and consumer protection act.

I support that the Product segmentation plan must reflect in conventional markets and, by nature, be fragmented into various tailored approaches. I see this plan as a procedure for improving profit margin, demand volatility, risk resiliency, and variations in the manufacturing supply chain. For big data analysis, my opinion is that companies should stop depending on structured data and focus on unstructured data derived from other data points. That will be essential in diverting the data analysis tactic, and more convincing useful results on the supply chain will be achieved in focus to the 2025 vision. Hybrid outsourcing, the last criterion is a smart area of concentration, in my opinion. Contract manufacturing agencies should be involved in mainstream contribution to the supply chain. I think this can be a success by eliminating government involvement and making contracts private and primary management fuse to the leading company. By this supply-chain, success will be home. The seven plan projects will be a success and transform the supply chain sector only if recommendations are taken into consideration and risk faced upon emerge.

Works Cited

Rober J. "Seven Best Practices for Supply Chains in 2025." SupplyChainBrain RSS, 4 Aug. 2014, www.supplychainbrain.com/blogs/1-think-tank/post/19530-seven-best-practices-for-supply-chains-in-2025.