Supply Chain Strategy Expert Reveals Three Fatal Mistakes of Recession Recovery
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Tompkins Associates' New Podcast Series Examines Profitable Growth for Today's Businesses
RALEIGH, NC, August 3, 2010 - Profitable growth planning is unique for every organization, but there are three key elements that can sink any company trying to surge ahead in this recovering economy, according to a new Global Supply Chain Podcast series.
The top three fatal mistakes that companies make when pursuing profitable growth are:
Being hurried and returning to a previously developed growth plan;
Becoming so focused on profitable growth that they fail to focus on the profitable present; and
Not properly balancing operations excellence and the pursuit of process improvement with the capital needed to fund profitable growth.
"The word 'growth' is most often tied to the top line as increased revenue," says Jim Tompkins, CEO of Tompkins Associates and host of the podcast. "And the word 'profitable' is most often tied to the bottom line as increased profits. So, what we are talking about here with 'profitable growth' is boosting a company's top line as well as the bottom line. For example, increasing the top line through higher cost is not profitable, and thus, not profitable growth."
Merger and acquisitions can also help achieve profitable growth, but there are seven other approaches discussed in this series. These include:
Solution Selling
Implementing Technology
Leveraging Supply Chain
Enhancing Service Supply Chain
Inventory Management
Doing Business in China
Pursuing Emerging Markets
To receive Tompkins' podcasts as they become available, either subscribe to the podcast or sign up for email updates (http://www.tompkinsinc.com/podcast).
About Tompkins Associates
Tompkins Associates transforms supply chains for profitable growth. For more than 35 years, Tompkins has evolved with the marketplace to become the leading provider of growth and business strategy, global supply chain services, distribution operations consulting, information technology implementation, material handling integration, and benchmarking and best practices. The company is known for innovative, practical solutions that improve supply chain performance and produce value-based results. Headquartered in Raleigh, NC, Tompkins has offices throughout North America and in Europe and Asia. For more information, visit www.tompkinsinc.com.
