As the global supply chain landscape changes, new opportunities will arise. It will be essential for high growth technology companies to have the necessary infrastructure to take advantage of to these rapidly expanding markets.
Supply Chain professionals at early stage ventures and high growth technology companies face unique challenges compared to their peers at large, established Fortune 1000 companies. It is true that many of the same best practices apply but it is often the application of these best practices where many professionals stumble.
By definition, a “supplier” is a party that supplies goods or services. In supply chain management, the term “supplier” is used frequently. When a buyer and/or company is looking for the supply of goods or services, one should always choose the party that offers more than just that particular good or service.
Startups often put a great deal of emphasis on engineering, marketing, and sales in the early product development stages. It is no surprise that these three business functions are essential in launching a successful high growth company. There are also circumstances where products are an early grand slam and less of a sales effort is required.
Startups by definition are new, often fragile, organizations that are one or two major commercial mistakes away from going out of business. Thus mitigating major commercial mistakes can dramatically increase a new venture’s chances for long term survival. Further avoiding commercial mistakes all together and instead turning commercial challenges into advantages can position a startup on a path for long term success.
Actionable insights from IndustryStar on ways to expedite, optimize, and de-risk your supply chain operations.