Founder, Chairman, and Chief Executive Officer of the McDan Group of Companies, Dr. Daniel McKorley
The Chartered Institute of Supply Chain Management (CISCM) Man of the Year 2023, and Founder, Chairman, and Chief Executive Officer of the McDan Group of Companies, Dr. Daniel McKorley, has revealed that corruption often arises within Supply Chain operations through over and under-invoicing.
Dr. McKorley stated that the Supply Chain has not received the necessary top management commitment in the country to fulfill its critical role in ensuring transparency and value for money. He emphasized that if the supply chain is not managed well by professionals, leakages are highly likely to occur, contributing to about 18.8% of the total revenue.
In today's globalized and interconnected world, supply chain management faces numerous obstacles that can hinder organizational growth and development. Dr. McKorley cited challenges such as capital market conditions, increasing customer expectations, technology, sustainability concerns, and geopolitical uncertainty. "However, it is in the face of these challenges that we must set innovative solutions to integrate Supply Chain Management and drive forward an organization and industry as a whole," he said.
Dr. McKorley highlighted five innovative ideas to address supply chain challenges and achieve integrated supply management. He mentioned digital transformation as one solution, stating that Supply Chain professionals and organizations must adopt digital platforms such as blockchain, artificial intelligence, and the internet. He revealed that after building a company to a certain level, one no longer needs a strong man to build the company but instead needs systems and structures to work effectively.
The second innovative idea he discussed was collaboration and partnership. He said that stakeholders must foster a culture of trust so that organizations can share resources, expertise, and information, resulting in streamlined processes, improved communication, and reduced costs in supply chain management.
Sustainable practices are another innovative idea to combat supply chain challenges. Dr. McKorley stated that he would not compromise his integrity and urged members to prioritize their integrity in their professional conduct.
Developing a skilled and diverse workforce is crucial for integrated supply chain management. "Invest in training and development programs that enhance employees' knowledge in areas such as data analytics, risk management, and emerging technologies. Additionally, foster a culture of continuous learning, innovation, and collaboration to attract and retain top talent," he advised.
Dr. McKorley stressed the importance of placing customers at the center of the supply chain by understanding their needs, preferences, and expectations. "By integrating the customer's requirements into the entire supply chain, organizations can create a competitive advantage and fuel development," he said.
He called on the organization to develop proper software to support companies and enable them to run their systems efficiently.
Dr. McKorley urged members to be patient in their workplace, to have the wisdom to navigate their troubles, and to never be impatient in serving whoever they have to serve, allowing their integrity to speak for them.
He asserted that the integration of innovative technologies and practices into supply chain management is not just a strategic advantage but a necessity in today's global economy. "It is through such integration that we can address the myriad challenges facing us and turn them into opportunities for development and growth. As leaders in this industry, it is our responsibility to pave the way for a more integrated, efficient, and sustainable future. Remember, in the realm of supply chain management, we are only as strong as our weakest link. Let us, therefore, commit to strengthening every link in our chain, together," he concluded.
