By constructing a 'fit for purpose' supply chain rather than a 'one size fits all' model, your supply chain can evolve from being agile and responsive, efficient and low-cost, or innovation driven - and become all three. The ideal situation is for the supply chain to be aligned with the company's corporate strategy and operating model, determining which of the previously mentioned qualities are most important for successful execution. When these priorities clash, the supply chain is doomed from a strategic standpoint.

A data-driven supply chain is essential in today's world. Data is now more than ever a critical foundational building block rather than a supplement to a traditional model. It is critical to have accurate transactional and master data. Furthermore, analytics—descriptive, predictive, and prescriptive—can not only support but also guide decisions in an evolved supply chain.

Before investing in assets, processes, systems, and people, you must thoroughly understand your end customers' needs and ensure that your entire supply chain works in tandem to meet those needs. To deliver an online shipment within 24 hours, for example, many elements must be synchronised, including planning, production, warehousing, sales, and finally logistics. Customer satisfaction is everything, and it is the most consistent way to keep market share.

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To compete in a data-driven world, supply chains must be integrated not only across the company, but also across suppliers, co-manufacturers, third-party logistics providers, customers, and even consumers. Sensors on products, pallets, trucks, containers, and other items can enable real-time track-and-trace, allowing planning processes to pull data from both sides of the ecosystem to better forecast, plan, and execute.

Innovation and supply chains should move in lockstep for optimal supply chain performance. This means that when developing new products, supply chain functions must be considered during the conceptual stages to ensure that the product design supports supply chain functions.

To objectively assess, manage, and compare supply chain management performance, a thorough understanding of the processes involved, as well as how they relate to the enterprise, is required. A standard process framework for categorising and defining processes is a good place to start. Process groups (supply chain planning, procurement, manufacturing, and production) can then be further subdivided into processes, activities, and lower-level tasks to establish accountability and responsibility.