Sometimes, having a good relationship with your suppliers can be a difficult proposition. Strategically planned interactions with third party organizations have to be precisely executed in order to maximize the value of the desired synergies.
Data analysis is the process of evaluating and examining each component of the data provided using analytical and logical reasoning. It is essential to growth and development in the supply chain industry because it allows your business to make better use of its resources and enhance productivity. At GEODIS, two of our main goals and values are to build trust with our clients and to always deliver a perfect service. By analyzing and providing accurate data, we are able to reach these goals and develop exceptional relationships with our customers.
The success of any business is linked to the performance of its supply chain. It doesn’t matter if you are the CEO of a growing corporation or the owner of a developing enterprise, it’s the undeniable truth. At least 50% of businesses, regardless of size, close within 5 years of their launch. The statistics are real, regardless of the industry; 79% of companies with high-performing supply chains achieve higher revenue growth compared to the average within their industry. Contrarily, about 8% of companies with low-performing supply chains report above-average growth. This comparison alone highlights how critical the relationship is between companies and their supply chain. As mentioned before, 50% of businesses fail within 5 years of their launch, therefore, it can be concluded that poor supply chain performance can contribute to business failure.