Discovering Hidden Profit: The Podcast

in part 3 of this series, Julia Kirby and Robert Martichenko discuss the using risk assessments to build flexible supply chains that can withstand even the most powerful crisis. For more information on this topic or how LeanCor can help you get started, go to leancor.com and click on Supply Chain and Business Strategy resources. To take the Supply Chain Risk Assessment Survey discussed during this episode, go to https://www.surveymonkey.com/r/e2e-2020 .

In part 2 of this series, Julia Kirby interviews Robert Martichenko on the future of the supply chain industry post COVID-19. To read Robert's White paper on this topic, go to leancor.comunder Supply Chain and Business Strategy resources. Like what you hear and want to learn more? Check out LeanCor's online store for On-Demand online training and eBooks: store.leancor.com/ For another great Supply Chain listen, search for the CSCMP podcast channel

LeanCor Supply Chain Group's Robert Martichenko and Julia Kirby discuss the future of the supply chain industry post COVID-19. To read Robert's White paper on this topic, visit: https://cdn2.hubspot.net/hubfs/527773/Post%20COVID-19%20Crisis%20Supply%20Chain_RMartichenko.pdf Like what you hear and want to learn more? Check out LeanCor's online store for On-Demand online training and eBooks: https://store.leancor.com/ For another great Supply Chain listen, search for the CSCMP podcast channel

Robert Martichenko brings a valuable perspective as a leading expert on supply chain management in the interview with Ed Tyll. “I just felt like we took a graduate course in supply chain management and you’re an awesome teacher.” - Ed Tyll LeanCor offers training and education, hands-on consulting, and outsourced logistics services that help eliminate waste, drive down costs, and instill a problem solving culture across their supply chain -- How can new small businesses adapt these methods and services?

Not all product life-cycle functions drive planning for inbound logistics, manufacturing, or outbound distribution. Or if they do, they do so without collaborating across the organization, or they do so without content knowledge of the supply-chain operations they are planning. This is one of our main challenges and therefore is a significant SCA opportunity. In this episode, Robert will explain how to expand the role and function of the Product Life-Cycle Planning processes, and how to connect this role with the other three core business processes to create an extended value-stream perspective that creates maximum customer value at the lowest cost.

Operating principles require cross-functional collaboration to be implemented successfully. In this mini-series, Robert Martichenko, co-author of Discovering Hidden Profit, recommends which operating principle(s) should be embraced by the core business processes of: Business Strategy, Product Life Cycle Management, Sales & Marketing, and Supply Chain Operations. When establishing Business Strategy, supply chain functions are often not sufficiently involved, resulting in unnecessary complexity and waste. In this episode, Robert will discuss how an organization should view its supply chain as a lever for profitability in top-line revenue growth, reduced operation costs, improved working capital, and margin improvement. This is accomplished by implementing a business strategy based on the operating principle of supply chain performance as a competitive weapon and strategic differentiator.

An operating principle is an operations framework or guideline that an entire organization believes is the right strategy or tactic for goals and results to be realized. Operating principles are critical in today’s complex business environment as they guide leadership and employee behavior, decision making, selection of methods and tools, progress measurement, and ultimately determine whether leadership is aligned on how goals will be achieved. The absence of operating principles can result in frequent changes of strategy and tactics, leading to confusion and frustration across the organization. Therefore, they are critical for setting direction and deciding what work the organization will perform. In this episode, Robert Martichenko, co-author of Discovering Hidden Profit, helps us understand how organizations can operationalize principles that support value-stream thinking, and how the four core business processes should align and collaborate in order to be successful.

A management system is a vehicle for executives to prove their full intent towards a business initiative, and Supply Chain Advancement (SCA) implementation will succeed or fail based on a commitment to support it. The management system sets goals, guides the organization to make correct decisions, recognizes deviations from plans, and brings visibility to initiate quick countermeasures in order to achieve operational and strategic goals. In this episode, Peter Marks, co-author of Discovering Hidden Profit, explains how to formalize a management infrastructure and leadership team to guide the implementation of SCA. This includes aligning teams around the system and developing a communication plan to show full executive commitment.

Robert Martichenko brings a valuable perspective as a Canadian-American business owner and leading expert on supply chain management. In this interview on the Ed Tyll Radio Show, Robert discusses the big questions surrounding the current discussions on trade agreements and why global supply chains may be here to stay.

While Supply Chain Advancement (SCA) is not a complicated concept, operational implementation is challenging because most leaders and organizations are focused on optimization at a single-process or functional level. Therefore, integrating core processes and taking an extended value-stream approach to decision making is new territory for many leaders. The best method to guide change in a management process is training and education. In this episode, Robert Martichenko, co-author of Discovering Hidden Profit, explains how leaders, managers, and all team members can leverage formalized training and education to understand the purpose of SCA as a business initiative and guide the change in the implementation process. This includes a collective understanding of the benefits of advanced supply-chain performance, the overall strategy, and tactical implementation steps.

Before we begin our work in Supply Chain Advancement (SCA), we need to understand the prize for completing the work. That is, how much profit is being left on the table because we do not have advanced supply chain performance? This requires objectively understanding the current state of the organization, picturing the ideal future state, and setting realistic yet challenging, goals. In this episode, Robert Martichenko, co-author of Discovering Hidden Profit, outlines four steps the C-suite can take to identify and set macro-level targets – the “true north” -- for extracting hidden profit.

Are business leaders leaving results on the table with today’s continuous improvement methods like lean and six-sigma? What’s the next frontier? In this first episode, host Derek Browning interviews Robert Martichenko, author of Discovering Hidden Profit, who has some thought-provoking and practical answers. It turns out that when organizations collaboratively operate by certain principles and management methods, they can connect four core processes (business strategy, product life-cycle management, sales and marketing, and supply chain operations). And when this happens, improvement efforts start to impact the bottom line in big ways.