Supply chains need to adjust to global economy in 2011 As more companies compete for a slice of earnings in the global economy, it becomes harder for companies to maintain an edge. Consumers are becoming increasingly sophisticated and demand that their goods are delivered in a timely and efficient manner, driving the need for companies to increase their supply chain efficiency in innovative ways next year.

To adjust to the global competition they face, businesses are streamlining their supply chains to ensure that goods are delivered as promptly as possible. According to Industry Week, the Single value chain planning will be adopted by many businesses next year as it makes a company's entire supply chain more responsive to disruptions, permitting a company to shift distribution through multiple channels if necessary.

In 2011, there will also be more innovation in supply chain management. Emerging economies want the same products as Western countries, but demand them at a lower price point. As a result of their demand, there should be continued innovation to deliver those goods at a discounted rate. As companies move toward satiating the demands of emerging economies, they will inevitably have to increase their manufacturing specialization.

Consumers are increasingly demanding services as opposed to products and businesses will have to shift as well, working to build integrated services to meet their demands. If companies wish to remain competitive, they must adapt and improve efficiency in the new year.
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