Leveraging a Diverse Supply Chain to Gain a Competitive Advantage

Leveraging diverse suppliers as a major source of value production is a strategy for gaining a competitive advantage in a global, diverse marketplace.
-Cecil Perang

Companies are increasingly dependent on supplier relationship management (SRM) to achieve business objectives, including profitability and strategic goals. New dynamics, like technology and the need for continuous innovation and agility to remain effective, are placing even more emphasis on effective supply chain management. Companies must source globally, utilize technology in new ways, adapt procurement functions for cost effectiveness, and be more responsive to customers.

A successful strategy for meeting goals has been the development of a diverse supply chain, but companies still often fail to fully leverage the diversity they worked to achieve in order to gain a stronger competitive position and financial sustainability. Diversity can open up new markets, enable companies to becom...

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