Collaborating with partners is a business priority, but companies are struggling to untangle the growing complexity of their supply networks, according to a survey.
Some 68% of respondents to a joint Business Performance Management (BPM) Forum and Chief Marketing Officer (CMO) Council study acknowledged that business partners were essential to their competitiveness and customer service. Yet, only 8% were confident that their companies had integrated their networks effectively. The situation was likely to worsen, as more than half of the respondents said their networks were growing in complexity and global scope.
These business collaboration networks should be seen as “the next generation supply chain” said Liz Miller, vice president of the BPM Forum and CMO Council. Unlike supply chains, which are often treated as a distinct business silo, companies must integrate suppliers, partners and everyone in the company to create a single business collaboration network. Through this mass-scale collaboration, they will be able to speed up productivity, reduce costs and ultimately serve customers more effectively.
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