Hospitals rely heavily on their supply chain, just as any other retailer does. However, the chances of little Timmy slipping into a coma are pretty low if a supplier misses a delivery of the latest Happy Meal toys to your local McDonald's. Chances increase, however, if he orders the McRib. Gross.
Thanks to just-in-time inventory management practices, speed of delivery and readily available product distribution, the backroom of your typical retailer has steadily shrunk over the last decade. This is true for clothiers, fast food, and most other retailers looking to maximize profits and utilize the space to effectively support front end marketing strategies.
Earlier this year, I made some predictions in Innovate or Die: 5 Omni-channel Strategies Amazon is Trying to Outrun. As a part of those predictions, I talked a little bit about the "barbell effect" and how there would be a dichotomy between luxury/high-end, customized, boutique firms that offered a unique customer experience for a premium and hyper-local/convenience …
We often underestimate how important supply chain is to our daily lives. While it's not a surprise to supply chain managers, most consumers don't consider folks like Chris Ward, who are out there sourcing things like 80,000 cases of jalapenos for Church's Chicken so you can get peppers on the side with your combo meal.
Employees and executives managing real estate transactions are not just filing leases anymore and they provide more value than ever. Companies in a low margin industry, like 3PL, can live and die by their real estate decisions and practices.