“In today’s economic climate, it’s essential that supply chain leaders strike a balance between a cautionary and forward thinking approach in order to continually identify opportunity and improvement areas within their organization,” says Tom Sanderson, chairman and CEO of Transplace (http://www.transplace.com), a leading third-party logistics (3PL) provider.

“Implementing innovative strategies and business best practices is important for companies to create a flexible supply chain that can adapt to sometimes abrupt changes in the marketplace. Identifying these opportunities now will help companies remain competitive and be prepared to lead when things begin to turn around.”

In 2009, Transplace was awarded the “100 Great Supply Chain Partners” distinction for the sixth consecutive year and  “Top 100” provider in supply chain transformation for the fourth year. Transplace offers these key strategies for companies to drive continuous improvement during the current economic downturn.

• Pinpoint opportunities in the marketplace: Smart shippers are using the downturn to lock in shipping capacity and identify opportunities for negotiating rates. Shippers also need to make sure that they have the correct inventory levels to create a responsive supply chain with the flexibility needed to expand or retract based on consumer demand. Additionally, companies use this time to evaluate their use of transportation modes to establish a balanced and efficient, yet cost effective transportation strategy.

• Continuous improvement within an organization: To fully leverage its processes and technologies, qualified “human capital” is critical. Companies willing to invest in skilled supply chain professionals assist in driving overall business success. There must also be an organizational commitment for continuous improvement of the company’s personnel and business practices. Participating in industry events allows companies with similar needs and challenges to network and collaborate on methods for improving their operations. Supply chain professionals can learn from their peers by sharing best practices and benchmarking their supply chain strategies against other leading companies.

• Invest in technology: Even in this down economy, forward thinking companies are continuing to invest in technology infrastructure in order to streamline processes and increase overarching efficiencies. By leveraging transportation management technology, companies can more efficiently collect and manage critical service performance and cost data, leading to proactive identification of areas for focused review and potential improvements.