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Efficient planning and superior execution against clear objectives is the way companies operate best. For many companies, the planning process is carefully orchestrated, objectives are set, budgets are negotiated, resources are allocated, and then it's up to the organization to execute. But what happens when the unexpected occurs? Say, an event occurs that throws the status quo into turmoil. What if your business declines by 40% in 1 month, what do you do? Conversely, what if your demand spikes by 50% in just a few months, what then? Suppose a natural disaster happens, or a new technology creates a significant, but unplanned opportunity?
The authors call these events 'stretch opportunities'. This book focuses on strategic thinking and tactical examples of how best to prepare for such events. The authors outline common themes across all such challenges, and introduce three key management concepts: Flexibility, Agility and Real Options.
This book also includes a specific chapter on how to structure supply chains to capitalize on stretch opportunities and the authors provide specific tactical frameworks to build in agility, flexibility and real options into a supply chain. In conclusion, you'll find a checklist that to ensure that the right questions are asked in developing supply chains so that the ability to "surge" at profitable opportunities is nourished.
About the author
Ananth Iyer West Lafayette, IN; Susan Bulkeley Butler Chair in Operations Management and the director of the Dauch Center for the Management of Manufacturing Enterprises (DCMME) and the Global Supply Chain Management Initiative (GSCMI) at the Krannert School of Management. Alex Zelikovsky San Rafael, CA; Vice president of Multi-Channel Solutions; Sephora.
Summary
Focuses on strategic thinking and tactical examples of how to prepare for such events. This book introduces three key management concepts: flexibility, agility and real options. It provides specific tactical frameworks to build in agility, flexibility and real options into a supply chain.
