Small businesses succeed and fail on the strength of their supply chains. Only with fast, flexible access to goods can any small business compete effectively against much bigger rivals. But at the same time, small businesses have minimal margin for error in supply chain management. Larger enterprises can often tolerate some missed orders, slower-than-average cash-flow or supply shortages during peak period; for small businesses, any one of these can prove permanently crippling. To succeed, small businesses need to operate agile, cost effective and resilient supply chains, but without the dedicated personnel or working capital that large enterprises have at their disposal.
How can small business owners run supply chains that help them sustain and grow their market share?