Supply Chain 2010: Building on the lessons learned

The recession may be coming to a close-at least officially. But the effects of that painful period linger on. Supply chain managers need to learn from the lessons of the past as they rebuild the foundation for a brighter future.

With the recession in full swing, 2009 was a wild ride for some companies-and their supply chain managers. In a survey of more than 500 CFOs conducted by Basware in cooperation with Indiana University's Kelley School of Business and the University of Navarra's IESE Business School in Spain, 64 percent cited "reducing direct costs" as their top priority. It was, for many companies and their supply chain managers, the year to stay alive.

Fortunately, while many who are out of work would dispute word that the economy is improving, statistics from monthly reports from the Institute for Supply Management (ISM) have pointed to growth in the non-manufacturing sector, and even stronger growth in manufacturing. Findings like these have prompted many analysts to declare that the economy has not only finally ended its downward slide, but is on the way to recovering.

Recovery or not, one thing remains clear: The corporate world, and by definition the supply chain, has been changed forever. In this article, we discuss key trends that will impact the professional lives of the supply chain manager in 2010. These trends are grouped into four categories: education and professional development; technology; risk management, and global strategies. In each of these areas, the recession's lingering presence is plain-and supply chain managers would do well to heed its lessons. ~ Source: Logistics Management