Week of August 7th, 2023
Linking supply chain news with dangerous goods compliance
The supply chain has evolved from being a cost center to being a differentiator that can be a real competitive advantage for businesses.
Let’s examine some recent industry news.
SUPPLY CHAIN NEWS
- Synchronized and Resilient Supply Chains as a Competitive Advantage: The supply chain has the potential to become a competitive advantage, enabling companies to achieve breakthrough growth in both top and bottom-line performance.
- The Competitive Advantage of a Green Supply Chain: A sustainable supply chain has become a differentiator for businesses that commit to being responsible environmental stewards.
- How Chief Supply Chain Officers Bring Competitive Advantage to Business: High-performing supply chains are aligned with the C-suite mandate to grow the business, whereas other supply chains are focused more on cost-cutting initiatives.
- How Pharmaceutical Brands Can Use Supply Chain as a Competitive Advantage Against Generics: Pharma brands are currently navigating a challenging time, but creating and sustaining a scalable supply chain operating model can make all the difference.
- How to Gain a Competitive Advantage Through an Outcome Mindset: Keeping pace with competitors used to revolve around working more hours, but more progressive organizations are gaining competitive advantages through the power of purpose-led and outcomes-driven approaches.
- How AI Can Help to Reduce Supply Chain Fragility: Shortages, shipping delays and logistics breakdowns are offering businesses an opportunity to achieve competitive advantage.
OUR PERSPECTIVE
- Compliance affects your competitive position. Businesses that have the infrastructure and processes in place to ship DG effectively can offer popular products that other companies may avoid and be able to ship those products safely and faster than competitors. Additionally, reducing risk and streamlining supply chain processes can make a company more attractive to business partners and customers.
- Attitude impacts investment. Companies differ in the way they view DG management as a business lever, which directly impacts resources and support. And getting the appropriate funding and resources for a compliant hazmat supply chain is easier if the company views hazmat management as a competitive advantage versus simply a regulatory mandate. Unfortunately, a survey of DG pros found that only 23% of companies view compliance as a competitive advantage.
- It starts at the top. Senior leadership must recognize the critical role that DG management plays in maintaining a smooth, resilient and compliant supply chain, and that it can be a competitive advantage that drives revenue, reduces risk and enables better customer service. Then they must invest in the technology, training and infrastructure that DG pros need to manage DG effectively and efficiently.
To learn more about dangerous goods software or how to establish a safer, more compliant supply chain, visit https://www.labelmaster.com.
Have questions about dangerous goods transport? Call the Labelmaster Regulatory Hotline at 1.800.621.5808.
