Electronics OEMs know that emerging markets offer an opportunity for growth. They may not know that success or failure can depend greatly on the organization's supply chain practices.
Only about 40% of companies feel that they have captured the growth they expected in emerging markets, a new Accenture survey found. The problem may be with the how the supply chain is managed. In fact, with certain operational practices in place, organizations can capture as much as 20% more success than the average, the study found.
These leaders' success can largely be attributed to four major supply chain practices: using a broad mix of operational approaches; focusing on quality and market knowledge in addition to operational costs; extensively deploying technology to help increase efficiency, improve flexibility, and enhance decision making; and continuing to invest aggressively in supply chain operations to keep pace with changing market dynamics.
Clearly, there are lessons to be learned from world-class supply chain organizations. The secret is maximizing opportunity while minimizing risk. That may be easier said than done. Check out the infographic below, and then let us know what lessons your organization has learned about tackling emerging markets. Then, take a second and weigh in on our most recent EBN Quick Poll to let us know how well your company rates in this area.
— Hailey Lynne McKeefry, Editor in Chief, EBN