We hear from time to time about the research going on to identify excellent supply chains. Some organizations such as AMR Research even go further and prepare a list of top 25 supply chains of the year.

But the question is "What are the measures of an excellent supply chain?". There are some research on this issue: Hau Lee from Stanford thinks that a successful supply chain has three characteristics:

• Agile: They respond quickly to sudden changes in supply or demand. They handle unexpected external disruptions smoothly and cost-efficiently. And they recover promptly from shocks such as natural disasters, epidemics, and computer viruses.

• adaptable: They evolve over time as economic progress, political shifts, demographic trends, and technological advances reshape markets.

• Aligned: They align the interests of all participating firms in the supply chain with their own. As each player maximizes its own interests, it optimizes the chain's performance as well.

Steve Cordy, a supply chain professional also provided this answer which I read some while ago in LinkedIn:

1. Maintain the continuity of supply. (If your supply chain breaks down, you are dead. This is more than just risk management by another name).

2. Ensure responsiveness. (If your asset structure and/or your contracts prevent you from responding in reasonable time and at reasonable cost to new threats, new products or the usual P.E.S.T.challenges, then you are stuck in the mud and you will fall behind).

3. Ensure customer satisfaction. (Of course you must satisfy the people that buy your products or services. But don't forget all the other customers of your supply chain along the way, your factories and sub-contractors for example. And don't forget that your suppliers too are customers, of your supply chain planning information at least. They may get the information free, but they suffer if you are bad at it, and eventually so will you).

4. Redesign your supply chain. (Organise yourself such that each year, at least 30% of your supply chain is challenged, reviewed, redesigned and tendered. On average your supply chain will be renewed every 3-4 years, although some parts will have changed faster or slower than this. Industries that are particularly fast moving may find 30% too low a target and vice versa, but it is crucial that you engage the task).

Not bad, as you can see these two have some elements in common. They both refer to flexibility issues and considering the interests of the stakeholders.

What else comes to your mind?