Connect, Share and Learn: Some Takeaways from the Tompkins Supply Chain Leadership Forum

–Couldn’t be there? Don’t worry, we’ve got you covered with some of the most interesting and thought-provoking highlights from the event–

Once again, our team had the great privilege in attending the Tompkins Supply Chain Leadership Forum in Durham, NC earlier this month.  And, once again, the Tompkins team out-did themselves with incredible presentations, thought-provoking breakout sessions, incredible speakers discussing great and timely topics, all in an effort to provide the fortunate attendees with opportunities to Connect, Share and Learn, the underlying theme of this annual conference.

The Forum’s first Keynote address was by Jim Tompkins, CEO of Tompkins International and Chairman of MonarchFX.  Jim is always thought provoking, insightful and most of all challenges all attendees with his annual presentations.  The title this year, “The Digital Imperative: Dealing with Uncertainty, Speed and Reinvention.”   

Some Take-A-Ways From Jim’s Keynote Address:

• The need to empower your organization to not only handle disruptions, but to follow those disruptions to change the world
• The new era of business of digital technology is changing all businesses. All organizations must pursue and embrace digitalization and take control of the disruption cycle
• The disruption cycle begins with innovation, which leads to entrepreneurship and boldness that’s designed to disrupt the status quo
• All company’s must look different than they did just three years ago; they need to create a new status quo and avoid resisting change
• The best way to empower an organization is through Resilience, Vitality and Focus
•  Minimize surprises, know your market and anticipate what’s coming next; have confidence in dealing with surprises
• Invest in shared visions and create a culture of innovation; invest in “possibility thinking” and ask the big questions
• Create cross functional teams, focus on goals, serve customers the way they need to be served and continually drive results
• Companies that do not properly respond to disruptions will find themselves out of business
• Uncertainty is permanent, it never goes away
• High stakes is the same as high rewards

And finally, embrace the digital imperative, build resilience, vitality and focus; focus all resources on business disruptions and become a disruptive innovator

Collaboration to Deliver Real and Meaningful Innovation

In this very lively and interactive session, we learned how two companies, Kenco Logistics and JDA worked together to create meaningful innovations for both parties in a business relationship.

• “If you want to go far, go together”
• The customer MUST be at the center of your innovation
•  Innovation is a team effort
• Get the attention of the ‘C” suite
•  Breakdown Silo’s within the organization
• Supply Chains are often driven by cost
•  Without risk, there is no reward
•  Get out of your own way and embrace partnerships
• You must have transparency and trust; build a level of trust
•  Explore “best” ideas
•  Innovation framework – Develop ideas looking at what users of the solution need
•  Design thinking starts with the customer in mind; “how might we…..(solve a problem, improve a process, etc.)

Why We Can’t Go Back to the Moon!

In this session we learned from Dr. David DeLong that NASA no longer has the original plans it used to get us to the moon.  So what lessons can we learn from that experience?

• There must be an awareness that knowledge needs to be retained
• Managers must be talent strategists
• Managers must be interpersonal coaches
• Always link the workforce to the larger strategy
• Understand the talent risks to the business
• Always customize recruiting and employee retention policies
• Build knowledge retention into company culture
• Conduct “stay” interviews; make sure you and your employees are always on the same page
• Engage staff in more in-depth career conversations
• Always improve mentoring skills
• Seek ways to transfer skills and remember, collaboration is King

We Can Work it Out!

In this very lively and amusing session by Buddy Bush of J.B. Training Solutions, we learned that different generations learn differently, act differently, have differing priorities, so you need to understand which generation you are dealing with in any given situation.

Traditionalists – (1900-1945) – They believe in the “Chain of Command” and super loyalty

Baby Boomers – (1946-1964) – They rock the “Chain of Command” and are idealists

Generation X – (1965-1980) – They say “what command” and are very independent

Millennials – (1981-2000) – They say “what chain” and work best with transparency

Guiding Principles of Transportation Cost Reductions

In this session presented by Daniel Sears and Brewster Smith of Tompkins International, we learned about the Three Pillars of Transportation Management

Pillar 1.       Tactical Operations – loads, modes selection and routing

Pillar 2.       Strategy – carrier sourcing, network modeling, TMS and WMS systems

Pillar 3.       Spend Management – Freight audit/pay, reporting and process improvement

Companies must be willing to invest in all three pillars and decide what can and should be outsourced vs. what functions should stay in house.  Transportation is not a support function it’s actually a value added business.  It’s a multi-year programmatic business and companies must create a structure and process before creating systems.

Targeted Persuasion – Persuasion Super Powers 

In this session, Jeff Tippet provided great insight on everything needed to “close the deal”, including the following:

• The ability to persuade is a Super Power
• Connection with others is your ultimate key to success
• This process is built on a simple message of “Keep it simple”
• Create succinct messaging, what problem does this solve?
• Eliminate the unnecessary – focus on what’s necessary
• Focus on helping others win; help people get what THEY want
• Our success is based on their success; you need to remain top of mind
• Repetition is the best way to get your message out
• Seek to understand, use humor; show compassion, show empathy
• Story telling is the best way to communicate; be sure however to base it on total authenticity

Lessons Learned and Path Forward

This presentation by Alex Baker of MonarchFX was a very lively and interactive session where the attendees learned a lot, but also shared a lot of their own experiences.  The theme of the presentation was “Planning for today, while preparing for tomorrow.”

• E-commerce is very strong and getting larger every day
• On-line shoppers are looking for a seamless experience
• Volumes can be leveraged – complexity MUST be managed
• There can be no constraints on business development – build relationships
• Business leaders must be free to drive growth; decisions must be based on facts and data
• There must be optimization of investment – revenue generation policies; technology systems and analytics where current and future are aligned
• Systems must be agile and scalable – detailed forecasts; focus on accuracy; quality, cost and service must be aligned
• Network capabilities must be strong – total cost analyses; supply and demand patterns; systems and automation; contracts and commitments
• Measurement and Alignment must include your metrics as well as your competitors; your metrics vs. business measures; where is time spent today and where will it be spent tomorrow?
• What do you know and what do you need to know creates a need for Time, Talent and Technology considerations
• Focus on people’s strengths to solve problems; empower others to do what they should be doing
• Is it business right or people right; focus on your strengths; Delegate to fix problems

 The Future of Commerce in a Connected World

In the final session, also a Keynote Address, Lee McCabe, VP North America for Alibaba offered an incredible presentation about the future of commerce and pointing out some of the things Alibaba has been doing that are absolutely “outside the box”.  The session was filled with informative statistical data too detailed to mention here, so we will provide just a few of the presentation’s highlights.  To no one’s surprise, China dominates e-commerce.

• Projections for the 2019 online shopper share by country

1. China 26.7%
2. India 13.3%
3. U.S. 9.5%
4. Japan 3.9%
5. Indonesia 3.0%

• By 2025 Chinese consumers will represent 44% of Global Luxury Sales
• Alibaba’s TMall.com platform currently has 515 Million Consumers
• Alipay, Alibaba’s global payment network currently has 520 Million users
• CaiNiao, Alibaba’s logistics service currently delivers 55 Million packages daily and processes 70% of all China deliveries
• Fliggy, Alibaba’s Travel service currently has 200 Million users
• YouKu, Alibaba’s Media network currently has 580 Million users
• In 2010, China and the US both had approximately 140 Million online shoppers. In 2020, projections are for the US to have 270 Million online shoppers and China will have 891 Million online shoppers

•  Alibaba’s “Singles Day” which is November 11th each year generated the following results

1. 140,000 brands participated
2. 225 countries and territories participated
3. 60,000 international brands were represented
4. 90% of all sales were done on mobile devices
5. A total of 812 Million orders were generated
6. 600 tons of Costco nuts were sold in 24 hours
7. 168 tons of Northwest cherries were sold
8. 100,000 iPhone X pre-orders were generated in only 50 minutes
9. 100 Maserati’s were sold in just 18 seconds
10.  350 Alfa Romeo cars were sold in a mere 33 seconds

So, as you can see e-Commerce is moving at lightning speed and will only move faster in the future. 

Is your company ready for the future of commerce in a totally connected world?

Thanks again to the Tompkins and MonarchFX teams for presenting another incredible Supply Chain Leadership Forum. 

And most importantly, don’t miss the 2019 Tompkins Supply Chain Leadership Forum which will be held in Durham, NC and the Washington Duke Inn and Golf Club on the campus of Duke University in Durham, NC on May 6-8, 2019. 

Mark your calendars now as you will not want to miss this incredibly informative conference!