The strategy focuses on enhancing the perfume supply chain centered in New Delhi, India. Initially, mapping the supply chain is essential to identify and document all key suppliers, evaluate sourcing processes, and assess logistics from raw materials to retail. For example, understanding the path essential oils take from supplier to production helps in pinpointing inefficiencies.
Next, assessing and optimizing supply chain impact involves evaluating cost implications, sustainability improvements, and brand positioning. This could include implementing cost-saving measures like local sourcing or leveraging technology to enhance efficiency, thus lowering costs and environmental impacts.
Finally, developing a strategic supply chain plan ensures alignment with business objectives. Establishing partnerships with local suppliers, designing flexible logistics, and leveraging technology for real-time tracking are crucial. The strategy emphasizes regular review and adaptation to maintain relevancy and effectiveness.
The strategies
⛳️ Strategy 1: Map the entire supply chain
- Identify and document all key suppliers in the perfume supply chain
- Evaluate the sourcing processes for raw materials, such as essential oils and alcohol
- Assess transportation logistics from raw materials to production facilities
- Map the production process including bottling and packaging
- Understand distribution networks from production to retail
- Identify key performance indicators (KPIs) for each supply chain stage
- Conduct a risk assessment for supply chain vulnerabilities
- Analyse current cost structures associated with each component
- Evaluate sustainability practices within the supply chain
- Document all findings for stakeholder review
⛳️ Strategy 2: Assess and optimise supply chain impact
- Analyse the cost implications of supply chain decisions on the overall budget
- Evaluate how sustainability practices can be improved and extended
- Investigate the impact of supply chain practices on brand positioning
- Conduct a competitor analysis to benchmark supply chain efficiency
- Implement cost-saving measures such as bulk purchasing or local sourcing
- Assess the environmental impact of logistics and transport
- Partner with eco-friendly suppliers to enhance sustainability
- Optimise supplier management systems for better relationship management
- Determine areas where technology can reduce costs and improve efficiency
- Create measurable objectives to track improvements in supply chain performance
⛳️ Strategy 3: Develop a strategic supply chain plan
- Align supply chain goals with overall business objectives for the brand in New Delhi
- Develop a strategic sourcing plan focusing on key resources
- Establish partnerships with local suppliers to reduce lead times and costs
- Design a flexible logistics plan that accommodates demand fluctuations
- Implement a sustainability plan that targets carbon footprint reduction
- Create a risk management plan to mitigate potential supply chain disruptions
- Leverage technology for real-time supply chain tracking and management
- Design a supplier performance monitoring system with KPIs
- Develop a communication strategy for supplier relationship management
- Regularly review and adjust the supply chain strategy based on market and business changes
Bringing accountability to your strategy
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your strategy.
