April 20188 MANUFACTURINGTECHNOLOGYINSIGHTSIN MY OPINIONThe Future of Supply Chain ManagementBy Barb Schwarzentraub, Divisional CFO and Director, Caterpillar Inc. [NYSE:CAT]With the ever-changing demands of the millennial customer in the marketplace, Isee the landscape of supply chain management having an immense and spatial potential to excel in the global trade network. Especially, with the advent of neoteric technologies, there is a tremendousopportunity to harness the power of information for making a considerable difference in the supply chain landscape.Recent Market TrendsThe speed of information has continued to grow, and the impact in our supply chain has become much more global at a rapid pace. It has considerably increased our ability to react with the speed of change in the market sphere to cope up with the ever-increasing customer demand. This puts a lot of pressure on traditional OEMs and on new individualsemerging in the marketplace forachieving customer satisfaction, as the end-users have other alternatives to meet their demands. I think one of the crucialfactors for start-up companies and individuals to understand in order tomake a difference in the marketplace is to do something we have never done before. It is exciting for individuals but also very challenging, because the supply chain isvery capital-intensive, where disruption can occur through information andanalytics.Methodologies and ApproachesWe look through the customers' perspective and what they are trying to achieve, and what value can be added to drive the customer needs before it arises as a demand. Using analytics and market research to predict and foresee the needs through suggestive selling, we can assemble and position the supply chain to deliver tothe anticipated sales. I think the best methodology is using analytics to shorten the supply chain.Barb Schwarzentraub
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