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Supply chain agility seen driving business growth for APAC
Manufacturers can capture existing and new opportunities with supply chain agility.
Building an agile supply chain will empower manufacturers in Asia Pacific to stay on top of the game in the face of a fast-changing consumer behaviour, a new research by logistics firm Maersk showed.
In a recent blue paper, the firm said strong supply chain agility allows companies to anticipate and proactively address changes necessary to prevent disruptions before they affect business operations.
The approach gives companies a competitive advantage to adjust in the region’s highly complex and rapidly changing business environment by ensuring goods are delivered on time, disruptions are mitigated, and costs reduced.
To keep up with the rapid changes in the preferences of consumers, it said manufacturers with an agile supply chain can quickly make adjustments to meet new consumer demands and shorten lead times with the help of demand-driven planning.
Beyond accurate demand forecasting, Maersk said building agility also involves multimodal transportation that offers companies with flexibility to deliver goods via the most suitable shipping method for different locations.
Having a flexible supply chain planning can boost profitability of companies by keeping inventory levels low and preventing revenue losses from inventory waste, it said.
“Agility is the cornerstone of success in navigating the diverse landscapes of Asia, where strategic agility and resilient supply chain execution are essential for addressing infrastructural, legal and environmental challenges while staying ahead of the ever-evolving market dynamics in the region,” said Ashley Wang, A.P Moller Maersk’s APAC head of L&S Products Portfolio.
