Advertise Here
Icon

Directory

IconActuaries
IconAdministration Outsourcing
IconAsset Managers
IconAssociations & Institutes
IconAuditors
IconBanking
IconBBBEE Consulting and Verification Agencies
IconBusiness Chambers
IconBusiness Process Management
IconBusiness Process Outsourcing
IconCompliance
IconConsumer Protection
IconCorporate Governance
IconCredit Bureaus
IconCurrencies
IconDebit Order Collection Facilities
IconEducation and Training
IconFAIS
IconHuman Resources
IconInformation Technology and Software Partners
IconInvestment Consulting
IconInvestment Fund Managers
IconLegal
IconLISPs
IconListed Equities
IconOmbud
IconParticipation Bond Managers
IconPolicy Administration
IconPolicy Trading
IconProperty Unit Trusts (PUTS)
IconPublications
IconRegulatory Authorities
IconStock Exchange
IconSurveys and Research
IconTraining Courses & Workshops
IconUnit Trust Fund Managers
IconWellness Programs
Advertise Here
  Subscribe To »

Supply chain processes need to be treated as assets

Published

2009

Thu

03

Sep

Company Listing: Ovations »
 

Organisations need to view their supply chain processes as real assets rather than just a means to an end, a mindset change that will enable them to improve the consistency of service they deliver and reduce “re-inventing the wheel” in large enterprises.

 

This is the view of Marius Mare, consulting director at Ovations, the Johannesburg-based business transformation firm.

 

“If a company installs a manufacturing asset it takes proper ownership of it, registers the asset, assigns ownership,  trains its staff on it, and conducts regular maintenance on it,” points out Mare.

 

“In the same way, companies need to treat their hugely important supply chain processes as owned assets that contain intellectual property, warrant business ownership, complete documentation, regular maintenance and require rigorous controls to be implemented.”

 

Due to their day-to-day association with risk and compliance issues, Mare believes companies in the financial services industry have better formulated their processes than their peers in many other industries.

 

“There is a strong need for companies across various industrial sectors to invest in their supply chain processes – these processes act as the glue between strategy and execution,” adds Mare.

 

In addition, he sees substantial scope for business process management principles to be applied across the supply chain. This could include automation of processes where it makes sense to increase consistency and improve process governance.

 

Importantly, he cautions, organisations looking to improve their supply chain performance must take a holistic view when it comes to finding solutions.

 

“This requires systems thinking, asking what impact one change or action will have on the rest of the supply chain cycle or on the organisation as a whole,” says Mare.

 

In the current uncertain domestic and global economic environment, he believes that agility is a major consideration for companies which have to be able to adapt swiftly to changing market conditions.

 

This requires the implementation of Service Oriented Architecture approaches to ensure that optimal use is made of technology, making it flexible and responsive, improve asset reusability, reduce costs and very importantly to reduce business risk and exposure.

 

“Technology is an important enabler in the supply chain environment, but it can’t be rigid as it has to able to be adapted and modified to meet changing requirements in a fast-moving business arena,” says Mare.

 
Source: Macmillan Communications
 
« Back to previous page Print this page » |
 

Breaking News »

What is the difference between Black Friday and Cyber Monday?

Cyber Monday originated in the US and is a marketing term used for the Monday after Thanksgiving. It was created by retailers to encourage people to shop online. The term was coined by Ellen ...
Read More »

  

Interview with Bright Rock CEO, Schalk Malan about their ground-breaking temporary disability cover

In October 2019 Needs-matched life insurance provider, BrightRock, announced enhancements to their temporary expenses cover. Read More More recently Insurancegateway® Interviewed Schalk Malan to not only ...
Read More »

  

The Importance of an effective online campaign

As we enter the age of the fourth industrial revolution, a technological transformation driven by the internet, it seems almost unthinkable that the web would not be the preferred platform chosen by businesses ...
Read More »

  

Tomorrow’s retirement industry will be radically different – So what should pension funds be thinking about now?

By Petri Greeff, Head of Investment Advisory at RisCura Pension funds today should be investing for a horizon of 80 years or more. While it’s impossible to predict what the world will be like in 2100, ...
Read More »

 

More News »

Image

Healthcare »

Image

Life »

Image

Retirement »

Image

Short-term »

Advertise Here
Image
Image
Image
Advertise Here

From The Glossary »

Icon

Investment Funds:

An investment policy offers investors, big or small, the opportunity to invest in an array of investment funds. This makes it easy as very view people have the financial knowledge to manage their own investment portfolios. Examples of the different investment funds are those in Sanlam's well-known Stratus Investments.
More Definitions »

 

Advertise

 

eZine

 

Contact IG

 

Media Pack

 

RSS Feeds

By using this website you agree to the Terms of Use.
Copyright © Insurance Gateway (Pty) Ltd 2004 - 2019. All Rights Reserved.