Reducing 3PL Supply Chain Risks using “Best Managed” practices.

Reducing Your Supply Chain Risks with Canada’s 50 Best Managed Companies (Best Managed) Competition

 In sports one of the winning formula’s is a combination of world class coaching and competition.  Through the former we learn techniques from the best in the appropriate areas of expertise. From the latter we get to apply those techniques and see what works so we can build on successes and refine what did not work. 

The Best Managed program uses these techniques so companies can improve performance in order to better serve customers.

Coaches come from world class companies such as Deloitte and CIBC. These coaches go through years of training and years of evaluating various private businesses in Canada resulting in them being able to help identify strengths and areas that world class companies are focused on that one may not be.  Then you step into the arena and have judges compare your business strategy, growth record, financial performance, etc to all those who enter the competition.  As a four-time winner and now a Gold Standard member ASL Distribution Services Limited has learned much by going through this process year after year.

All of these improvements lead to us better serving our customers who need strategic logistical services. How? A review of the information from the Best Managed program’s website highlight a few key areas including the fact that:

“The Best Managed designation symbolizes Canadian corporate success: companies focused on their core vision, creating stakeholder value and excelling in the global economy. The program has continued to raise the profile of Canadian-owned businesses that have:

• outperformed their competitors
• created thousands of jobs
• achieved sustainable growth
• excelled both at home and abroad”

In times of great financial turmoil as we have been experiencing since late 2008 there have been many logistics companies fail leaving their customer’s supply chains, and potentially the customer’s entire underlying business at risk.  Customers’ that see their logistics or 3PL provider as strategic to their overall objectives or to their supply chain needs have in the writer’s opinion dramatically increased their due diligence in selecting their strategic providers.  If your supply chain is strategic to your business then selecting a logistics supply partner that is a Best Managed Winner can help you ensure you are picking a strategic provider that will be around for years to come and has been well coached and competed against many of the best companies in Canada.  It allows you to cross-check what the vendor is marketing to you to credible and independent criteria.

Although there are few guarantees in business, doesn’t your supply chain deserve to be served by a company that has competed against many great Canadian private companies? 

For more information on the Best Managed program please visit:

 https://www.canadas50best.com/en/about/Pages/Home.aspx

Please visit us next week when we write about why size matters in picking your fulfillment / ecommerce provider.