Actively managing the cash-to-cash cycle in the supply chain requires cutting across multiple functions and processes of a company. Just as in a relay race with passing the baton, flawless handoffs between functions determines if we win or lose this competition. Again, we often assume that having world class tools and processes will make us great, when in fact we’re actually failures at running the business efficiently. This comes from not truly understanding how the company operates from a People, Process and Tool perspective.
As part of the Master of Global Supply Chain Management program, Daniel Wong and I lead the Supply Chain and Value Chain in Asia Field Study. This is a unique, on-the-ground opportunity to explore the challenges in globalized operations strategies. As we start our journey, we need to remember to consider our assumptions and consider when Western values do not apply. When working with global supply chains, social and environmental issues like child labor, unsafe working conditions and dumping of pollutants become core considerations.
This will be my seventh trip to Vietnam. I constantly have to remind myself that Asia is ever-changing, but also constant in many ways. Even cities with thousands of years of history see cycles of change. I’m excited to share some of my expectations for arriving in Asia, Vietnam specifically.
Jay Fortenberry is a cash to cash cycle expert, teacher, mentor and author. An internationally recognized supply chain leader, Jay has had a storied, decades-long career with companies such as Honeywell, Toyota and John Deere. He designed and operated global networks serving 164 countries and 86 distribution facilities.