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How to Build Trust in Supply Chains and Improve Performance

How to Build Trust in Supply Chains and Improve Performance a wooden block that says trust, surrounded by blue flowers

Deloitte recently conducted research to determine the correlation between trust and performance in supply chains. The research revealed that best-in-class supply chain organizations are, on average, six times more trusted than their lowest-performing counterparts. The research also identified several key areas that organizations can focus on to build trust and improve performance in their supply chains. These areas include developing a culture of trust, leveraging technology to increase transparency, and creating a customer-centric approach to supply chain management.

Although the research from Deloitte provides useful insights into how to build trust in supply chains, it is important to remember that trust is a complex concept that involves many different factors. It is not enough to simply implement the strategies outlined in the research. Organizations must also be willing to invest in building relationships with their suppliers and customers, as well as engaging in open and honest communication. Additionally, organizations must be willing to take risks and be open to new ideas in order to foster a culture of trust.



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