7 Operational Strategies to Remain Competitive and Efficient

To stay competitive and efficient, you should do these seven things. Develop new products and services, optimize your incoming and outgoing supply chain, communicate more with your employees to minimize turnover and develop a small but skilled workforce, train your managers, manage your inventory, use cloud-based software, and continuously work to improve.

Key Takeaways:

• The single most important thing every company must do to remain competitive is to develop new products and services.
• Rather than viewing operations as just as warehousing, look at improving the inbound and outbound supply chain to gain advantages, cost savings, etc.
• To increase productivity, develop reporting by person and department. Increase feedback to employees so they can understand your goals.

“Push value-added services (e.g. ticketing, packaging, etc.) and quality inspection up the supply chain. This should reduce costs and minimize rework and delays in getting products to customers.”

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