Importance of Supply Chain Management for Small Businesses
Small businesses are the backbone of the global economy, driving innovation and creating jobs. However, in today’s fast-paced and highly competitive marketplace, even the smallest business needs to operate with efficiency and agility to thrive. One critical aspect that can make or break a small business is its supply chain management. According to a study by Accenture, companies with superior supply chain capabilities achieve up to 50% higher growth rates and 16% higher profitability than their peers.