A company's supply chain is vital to success. From the planning of raw inputs, to the shipping of the final product, the supply chain touches nearly every aspect of the business. Years ago, many companies operated using the traditional model of supply chain management: buy all the resources at the cheapest rate possible. In today’s business world, the supply chain model has shifted with more companies building long-term relationships with their suppliers and ensuring they are operating responsibly. Kelley Assistant Professor of Operations Management Amrou Awaysheh reveals his eye-opening research on this topic and gives managers tips on improving their company’s supply chain.
Show Notes: 0:07 Shane Simmons and Phil Powell welcome listeners to The ROI Podcast. 0:26 Introducing the topic of corporate sustainability through a company’s supply chain. 0:37 Phil defines supply chain management. 0:50 The traditional way companies looked at their supply chain: reducing cost. 1:08 The new way the research teaches us about supply chain. 1:22 Introduction to Amrou Awaysheh. 2:22 The supply chain “blackbox” 2:31 The impact technology and social media has had on supply chain. 3:15 Doesn’t the bad press only impact larger firms? 3:44 Three specific dimensions Amrou’s research looks at. 3:50 Supply chain transparency. 3:56 Dependency. 4:00 Distance. 5:04 Cultural differences. 6:03 How socially responsible practices impact the bottom line. 6:17 Key performance indicators that improve. 6:42 Social responsibility and its impact on labor productivity. 8:22 How to get your supplier on board with sustainable practices. 10:03 Show wrap-up.