Supply chain efficiency more important than ever, survey finds

A recent study has indicated that efficient, lean supply chains were key in helping businesses survive the 2008 economic crisis.

According to a survey conducted among supply chain executives in more than 20 different industries this year by CSC, Supply Chain Management Review and the Eli Broad Graduate School of Management at Michigan State University, with assistance from The Council of Supply Chain Management Professionals and Supply Chain Europe magazine, businesses rely on supply chain efficiency to provide frugal customers with the most cost-effective products and to reduce their own operation costs and continue turning a profit.

When asked about the importance of supply chain management in the years since 2008, 78 percent of business leaders reported maintaining lean and efficient supplies was more crucial than ever.

"The lessons on how businesses survived a serious economic downturn are becoming more evident," said Brad Barton, CSC's supply chain practice leader. "To reduce costs, business leaders went directly to their supply chains, working with key suppliers to reduce cycle times and increase revenues with their best customers."