Mike Duke was named one of the ten most powerful people by Forbes just three years ago. The former Walmart CEO restructured the firm and helped it grow with integrity, setting himself apart from many other CEOs. His background in logistics and distribution helped him to grow the company in many markets around the world. He recently shared some of the most important lessons he has learned at Gartner’s Supply Chain Executive Conference.
First of all, he emphasizes the importance of knowing your strengths and leveraging them. In terms of supply chain, you need to know your market segmentation. You should not only figure out which areas you excel in, but you should also try to leverage those strengths to improve aspects that are lagging behind.
He also recommends setting ambitious goals. Aiming high and outlining a clear path to achievement can grow your supply chain and inspire innovative ideas to reach those goals. He also highlights the importance of not being afraid to move on quickly if something isn’t working.
Work Hard And Act With Integrity
Duke feels his most important lesson was to act with integrity, whether he was dealing with staff or customers. When it comes to supply chains, this means being aware of the impact your supply chain has on the people involved in every step of it as well as the environment at large. Look beyond the top-tier suppliers are demand visibility.
Duke learned the importance of hard work and getting things done from his parents. Changes are par for the course in supply chains, and a swift and effective response is the secret to overcoming unexpected challenges. Getting needed information rapidly can help you make an informed decision without losing too much valuable time.
This goes to show that successful business leaders – even if their mastery lies outside of logistics in particular – can provide inspiration and advice that can be applied to supply chain management to bring about noteworthy improvements.
This blog post was based off an article from 21st Century Supply Chain Blog. View the original here.