Thinking on a global scale is becoming more and more important for companies, with an increasing amount of manufacturing coming out of China. But the challenge is for companies to retain a high level of visibility over extended supply chains.
George Hadley, global operations director for De La Rue, said it was a risk versus reward situation, where some have got it right while some have got it badly wrong. Taking responsibility and managing suppliers was of key importance.
“Failure is not an option. If you go down this path, be prepared to make some difficult decisions.” Success was based on a few simple rules; doing your homework in advance, selecting a partner with experience, and someone who is strategically, technically and culturally aligned with you… but most of all getting your own people on the ground with a foreign sourcing office.
He said “Don’t do it remotely… Failing to plan is planning to fail’.