Look at the chain of value, which extends from you and your suppliers, and ends with the ultimate end-user customer.
ADAGE
Know Your Supply Chain
———-
RESPONSE
Look at the chain of value, which extends from you and your suppliers, and ends with the ultimate end-user customer. The relative importance of different types of value will migrate over time. Nothing remains static. Value chain ratcheting is the methodical and incremental adjustment of the type and nature of value that you add to this chain. Assess each component added in the chain, both from you as well as from other members of this economic ecosystem. Simplify your chain. Avoid complex technology vulnerable to internet disruption. Use onshore suppliers to avoid offshore risks. Know your numbers and look for ways to add value so you can add profit or reduce expenses that take too much resource or profit from what you are doing. Ratchet incrementally. Make small adjustments. Test. See what works and what doesn’t. But always maintain a “gauge” or a template of your standardized chain. Don’t lose sight of what brought you to the dance to begin with.
SCRIPTURE
Ephesians 5:15-16 Be very careful, then, how you live—not as unwise but as wise, making the most of every opportunity, because the days are evil.
Revelation 1:20 (NKJV) “The mystery of the seven stars which you saw in My right hand, and the seven golden lampstands: The seven stars are the angels of the seven churches, and the seven lampstands which you saw are the seven churches.”
QUESTIONS
How do the Scripture(s) apply to the business adage?
Is your Christian faith part of your value chain? If not, why not?
If Christianity is not part of your value chain, how might you add it? If so, how?
List all of the components of your value chain, beginning with you.
Are there specific employees that create weak links in your chain?
Are the seven churches referenced in the book of Revelation part of God’s value chain? If so, how?
DOWNLOAD
Download the free PDF worksheet for this adage, print it, and use it in your meeting, conference, or group.
