As part of our Global Chief Supply Chain Officer Study, we spoke at length with major metals and mining (M&M) supply chain executives. Like their peers in other industries, M&M executives are wrestling with rising risk, supply chain visibility issues, cost volatility, globalization and increasing customer demands.
From these conversations, it was clear that globalization and economic challenges are driving upheaval in traditional supplier-producer-customer relationships. Emerging markets are now driving most of the growth – and introducing greater competition. In the past, most companies concentrated on moving product through the supply chain; the emphasis was on maximizing capacity and reducing costs.
But to address greater market volatility and continued industry shifts, M&M companies will need a different kind of supply chain – one that is much smarter.