Supply Chain Lessons from Amazon’s Jeff Bezos
Mike Regan, Chief of Relationship Development at TranzAct Technologies talks about the shareholder letter that Jeff Bezos recently wrote to Amazon stakeholders and the company's emphasis on innovation.
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- Company Quicklook
Recently I heard a speaker proclaim that Amazon is not just a company, it is a way of doing business.
I thought that was a bit strange until I read Jeff Bezos' Annual Letter to Amazon shareholders.
I know you are extremely busy, but you need to read this letter.
Not only will it help you understand Amazon's success, but based on input from some CEO buddies that I shared the letter with, it may very well have a profound impact on how you view your business.
The letter starts out by asking: "Jeff, what does Day 2 look like?" He then talks about the difference between "Day 1" and "Day 2" companies.
Cutting to the Case
In Day 1, companies are growing and thriving because of their commitment to core values - in Amazon's case this means its dedication to the customer and commitment to innovation.
In Day 2, companies are willing to accept the status quo - there’s no longer a commitment to innovation and these companies are, in Jeff's words, headed to death.
I know a lot of companies love to talk about the importance of innovation. But truthfully, that quest for innovation gets left behind when it comes to transforming their supply chain areas. If your supply chain is stuck in Day 2 mode, we encourage you to talk to us about our rapid assessment process. It helps companies understand where they're at today and where they could be in the future.
We don’t just give you a picture of the preferred future - we help you understand how you can build the bridge to get from your current state to your preferred state. Our goal is to ensure you’re in Day 1.
About the Author
Mike Regan, Chief of Relationship Development at Tranzact Technologies. Mr. Regan is extremely well known and active within the logistics industry. He serves on the Boards of numerous industry groups such as the American Society of Transportation & Logistics, where he is a Distinguished Logistics Professional (DLP), National Industrial Transportation League (NITL), the National Shippers Strategic Transportation Council (NASSTRAC), where he is the Chairman of the Advocacy Committee, and the Transportation Intermediaries Association, where he served as Chairman of the TIA Foundation. He is also very active in several key industry organizations, such as the Council of Supply Chain Management Professionals (CSCMP). Mr. Regan is also the Chairman of the Board for Supply Chain Edge.
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