This is new blog-Don’t miss out!
Maximizing Business Success: The Crucial Role of External Expertise in Mitigating Blind Spots
Global supply chain blogs
About the Author
Vivek Sood: Sydney based managing director of Global Supply Chain Group, a strategy consultancy specializing in supply chains. More information on Vivek is available on www.linkedin.com/in/vivek and more information on Global Supply Chain Group is available www.globalscgroup.com
Vivek is the Managing Director of Global Supply Chain Group, a boutique strategy consulting firm specialising in Supply Chain Strategies, and headquartered in Sydney, Australia . He has over 24 years of experience in strategic transformations and operational excellence within global supply chains. Prior to co-founding Global Supply Chain Group in January 2000, Vivek was a management consultant with top-tier strategy consulting firm Booz Allen & Hamilton.
Vivek provides strategic operations and supply chain advice to boards and senior management of global corporations, private equity groups and other stakeholders in a range of industries including FMCG, food, shipping, logistics, manufacturing, chemicals, mining, agribusiness, construction materials, explosives, airlines and electricity utilities.
Vivek has served world-wide corporations in nearly 500 small and large projects on all continents with a variety of clients in many different industries. Most of projects have involved diagnostic, conceptualisation and transformation of supply chains – releasing significant amount of value for the business. His project work in supply chain management has added cumulative value in excess of $500M incorporating projects in major supply chain infrastructure investment decisions, profitable growth driven by global supply chain realignment, supply chain systems, negotiations and all other aspects of global supply chains.
Vivek has written a number of path breaking articles and commentaries that are published in several respected journals and magazines. Vivek has spoken at several supply chain conference, forums and workshops in various parts of the world. He has also conducted several strategic workshops on various aspects of supply chain management. He received his MBA with Distinction from the Australian Graduate School of Management in 1996 and prior to these studies spent 11 years in the Merchant Navy, rising from a Cadet to Master Mariner.
More information on Vivek is available on www.linkedin.com/in/vivek and more information on Global Supply Chain Group is available on www.globalscgroup.com
Introduction
While internal experts can bring a wealth of knowledge and experience to the table, they may not always have the specialized skills needed to drive significant change. This is where external experts come in. By bringing in outside talent with world-class knowledge and experience, businesses can ensure they have the skills needed to transform their operations and stay ahead of the competition. Finding the right external expert can be a challenge, and blind spots can occur during the transformation process.
In this blog, we will explore the importance of external experts in business transformation, the skills needed for successful transformation, and how to find the right external expert for your organization.
Internal Experts V/s External Experts: Choosing the Right Solution
Business transformation involves reimagining a company’s strategies, operations, and culture to improve its performance and position in the market. While businesses have internal experts who have an intimate understanding of their operations, the best external experts can bring world-class knowledge and experience from outside to make things better. Cutting-edge business transformation skills are rare, and companies must find the right person with profound and broad expertise in every moving and non-moving part of a supply chain.
Blind spots can occur during the transformation process, as seen in the example given in my book – of a steel manufacturer that had a highly competitive steel-manufacturing team but lacked knowledge in supply chain management and business transformation. The lack of expertise in the supply chain led to delays, disruptions, and poor performance, which ultimately led to an early exit from the market.
These outside experts can offer fresh perspectives, new ideas, and innovative solutions to help businesses navigate the complexities of transformation. External experts can also help identify and fill gaps in a company’s operations. They can provide support in areas such as supply chain management, logistics, and digital transformation. By collaborating with external experts, companies can learn new skills, adopt new technologies, and implement best practices to optimize their operations and improve their performance.
Pros of Involving External Experts
Cons of Involving External Experts
IBM
In the 1990s, IBM was facing significant challenges due to changes in the technology industry, increased competition, and a decline in profitability. To address these issues, IBM brought in Lou Gerstner, an external expert with extensive experience in turnaround management.
Gerstner recognized that IBM needed a major transformation in its business strategy, culture, and operations. He implemented a range of initiatives, including a shift towards services and solutions, a focus on customer needs, and a decentralized organizational structure. He also invested heavily in research and development, which led to the creation of new products and technologies.
The results of Gerstner’s transformation were significant. IBM’s revenue and profitability increased, and the company regained its position as a leading player in the technology industry. Gerstner’s leadership and the involvement of external experts in the transformation process played a crucial role in IBM’s success.
Conclusion
Involving external experts in business transformation can have numerous benefits for organizations seeking to improve their performance and stay competitive. However, it is essential to weigh the pros and cons carefully before making a decision. While external experts can bring fresh perspectives, world-class knowledge and experience, and cutting-edge skills, their high cost and lack of familiarity with the organization can be potential drawbacks. Organizations must also be aware of the potential resistance to change, limited knowledge transfer, and integration issues that may arise when bringing in external experts. Overall, the success of involving external experts in business transformation depends on careful planning, effective communication, and collaboration between internal and external staff.
Introducing.....
The global supply chain of products is an immense and complex system. It involves the movement of goods from the point of origin to the point of consumption, with intermediate steps that involve resources, materials and services to transport them. A supply chain encompasses activities such as purchasing, production, distribution and marketing in order to satisfy customer demands. Companies rely on a well-managed supply chain to meet their business goals by providing quality products and services at competitive prices.
Efficiently managing a global supply chain requires considerable effort, particularly when dealing with multiple suppliers located around the world. Complex logistics tracking systems are needed to monitor product movements from one place to another. Technologies such as artificial intelligence (AI) can help companies keep track of shipments across different locations for greater visibility into their processes.
what did Our Reader say?
GARRY BADDOCK
Chief Operating Officer Graphite Energy
I have experience with many of the well-known top-tier strategy firms but chose Global Supply Chain to support me on my supply chain projects. They always meet and exceed my expectations due to the quality of the work, the ability to work collaboratively with internal teams, and the flexibility to adjust the project approach when required.
PHILLIPPE ETTIENNE
CEO - Large Global transnational corporation From: FOREWORD - OUTSOURCING 3.0
When I engaged Vivek’s services for supply chain transformation in one of the companies I was heading, we expected the careful and methodical approach that he was famous for... I was pleased to note that the original target set for 3 years was surpassed by almost 70% in just 18 months.
TONY FEDOROWICZ
Vice-President Supply Chain Asia Pacific
I have used their services for several business transformations and workshops in many companies. Each time an outstanding workshop and project result was delivered ensuring the success of the business transformation project. Savings surpassed $25 Million per annum in one case. Very powerful ideas, were implemented very diligently.
Jean-Briac Le Dean
Co-Founder & Agen
Vivek is a very collaborative and open leader who leads teams by example. Whether internal teams, or clients teams, all are impressed by his intensity, energy level and drive to make things a little better.
Lorna Calder Johnson
Omni-Channel Product Marketing
P & L Executive
Vivek's transformation expertise is apparent from his results and dedication to operations and supply chains. His strategic expertise, knowledge and network make him a standout even among an excellent team.
Related Posts
Click below to see related posts.
The Impact of Plummeting Shipping Container Prices Across Industries
Explore the far-reaching consequences of plummeting shipping container prices on diverse industries, revealing the intricate connections shaping global trade, supply chains, and economic landscapes.
Race Day Logistics: Intricacies of Pit Stop
Explore the race day’s heartbeat: the art of pit stops. Uncover the intricate logistics orchestrating split-second tire changes, refuels, and strategy adjustments that define Formula 1’s high-speed drama.
Mastering Travel Logistics in Formula 1 Racing
Discover the art of flawless travel logistics in the high-speed world of Formula 1. Uncover how precision planning and real-time coordination keep teams on track across the global circuit.