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What Expert Analysts Are Saying About omniQ

omniQ was recently featured in a research article by Ashok Kumar, PhD, CFA of Think Equity.

His findings show just how incredible omniQ is doing and how phenomenal our future looks.

Key Points

Supply Chain – Data Analytics and Intelligence Platforms. Many supply chain organizations are

looking to speed up end-to-end decision-making based on connected data sources, allowing

them to react to current and anticipated future disruptions quickly. Vying for a bigger share

of the supply chain data analytics and intelligence technology market, OMNIQ is repositioning

its solutions to span broader capabilities. This has resulted in offering an encompassing data

platform in support of augmented data intelligence in the supply chain.

Acquisition offers an opportunity to accelerate the adoption of OMNIQ’s AI solutions to automate the supply chain.

With the acquisition of Dangot, OMNIQ has created a $91

million 2020 pro forma revenue company. The acquisition provides key capabilities in AI,

object identification, and automation company, technology building blocks to drive growth and

stronger financial results.

Contract Win Highlights.

Machine Vision Security Solution at Port of Ashdod. During the third

quarter, OMNIQ received an order to deploy Q Shield, its AI-based machine vision security

solution, at Port of Ashdod (Israel).

Machine Vision Solution at Strategic Border Checkpoint. Also during the third quarter, OMNIQ

received an order to deploy its AI-based MV solution at the border checkpoint between Israel

and Jordan.

Campus Management. The company received a 10-year contract from La Sierra University to

deploy its PERCS software for campus management.

Airport AI Technology Deployments. OMNIQ announced its AI-based OMNIQ vision solution

would be deployed at Miami International Airport. OMNIQ vision is now deployed at 40-plus

airports including Atlanta, Dallas Fort Worth, Los Angeles International Airport, and John F.

Kennedy Airport in New York.

Continued Order Momentum. After the quarter ended, OMNIQ announced more than $13

million in purchase orders in October.

Self-Order Kiosks. OMNIQ announced in the third quarter that Aroma, the largest coffee chain

as Israel, had selected Dangot to provide its self-service kiosks. By the end of 2022, OMNIQ will

install 250 self-ordering kiosks at the Aroma Israeli branches.

Dangot’s innovative product offerings continue to be adopted in Israel and are also a fit for

OMNIQ’s target markets.OMNIQ offers a comprehensive solution under one roof, combining

AI solutions, supply chain automation solutions and the new Dangot product. This supports

the company’s road map to be a leading provider through object identification of unique

automation and efficiency solutions.

Summary

OMNIQ offers a comprehensive platform solution that combines all three of its offerings – AI

solutions, supply chain automation, and the new Dangot offerings. OMNIQ’s total offering is a

competitive differentiator and provides value-add for customers. The comprehensive approach

is an evolution of the company’s product roadmap to a platform provider of turnkey object

identification solutions that enables supply chain automation and related efficiencies.

OMNIQ has been selected by several cities for long-term installment of AI machine vision

systems for public safety and law enforcement. The acquisition of Dangot, creates many new

opportunities, in addition to improving the balance sheet, profitability, and cash flow.

Read the full report here

Read full PDF here

or

Contact the author Ashok Kumar, PhD, CFA at

ak@think-equity.com | 646-968-9363

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Blog Transportation and Logistics

OMNIQ Receives $4.0 Million Purchase Agreement from Midwest-Based Third-Party Logistics Client

  • Multi-year deployment valued at approximately $4.0 million, includes an immediate $400,000 opening delivery
  • Continued deliveries are planned for fiscal year 2022 and beyond 
  • Customer with annual revenue of over $400 million and more than 3,000 employees 
  • OMNIQ to provide Android-based rugged data collection, computing and communication equipment to distribution centers across the United States
  • Contract includes Technical Support Services and device management software.

SALT LAKE CITY — OMNIQ Corp (NASDAQ: OMQS) (“OMNIQ” or “the Company”), a provider of Supply Chain and Artificial Intelligence (AI)-based solutions, announced today that it has received an approximately $4.0 million purchase agreement from a top, Midwest based (3PL) third party logistics client.  omniQ will supply Android-based rugged data collection, computing and communication equipment to the 3PL customer’s distribution centers across the United States. The 3PL customer has annual revenue of over $400 million and more than 3,000 employees. The multi-year deployment is valued at approximately $4.0 million, which includes an immediate $400,000 opening delivery

The rugged all-touch computer for workers inside or outside the four walls has complete cellular network flexibility, faster WiFi connections, superior barcode capture, a high quality color rear camera for photos and videos, a front-facing 5MP color camera for video calls and soft keys for one-touch access to the most frequently used features. The state of the art device improves logistics efficiencies by enabling quick and accurate control of shipping/receiving and inventory management, all based on the advanced Android Operating System.

Shai Lustgarten, President & CEO at omniQ, commented, “Following the $7.8 million award announced just a few days ago, this $4.0 million order is yet another example of repeat business, demonstrating the value of omniQ’s existing customer base and highlights the quality of omniQ’s solutions. Moreover, our Company has built a solid reputation as experts in sophisticated Android implementation providing supply chain solutions comprised of cutting edge technology and software.”

About omniQ Corp.
omniQ Corp. (NASDAQ: OMQS) provides computerized and machine vision image processing solutions that use patented and proprietary AI technology to deliver data collection, real-time surveillance and monitoring for supply chain management, homeland security, public safety, traffic & parking management, and access control applications. The technology and services provided by the Company help clients move people, assets, and data safely and securely through airports, warehouses, schools, national borders, and many other applications and environments.

omniQ’s customers include government agencies and leading Fortune 500 companies from several sectors, including manufacturing, retail, distribution, food and beverage, transportation and logistics, healthcare, and oil, gas, and chemicals. Since 2014, annual revenues have grown to more than $50 million from clients in the USA and abroad.

omniQ recently announced the closing of its acquisition of 51% of the capital stock of Dangot Computers Ltd (Dangot). omniQ has an option to purchase the remaining 49% of the capital stock. Dangot is an Israeli based leader in providing innovative technologies including: frictionless automated order processing & digital payment processing products for the retail, fast food and parking markets; integrated work stations for physicians, drug delivery and blood tests; robotics for smart warehouses; point of sales, self-check-in management, and other state of the art solutions.

The Company currently addresses several billion-dollar markets, including the Global Safe City market, forecast to grow to $29 billion by 2022, and the Ticketless Safe Parking market, forecast to grow to $5.2 billion by 2023. For more information, visit www.omniq.com .

Information about Forward-Looking Statements
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.

This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “anticipate”, “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for the Company’s products particularly during the current health crisis , the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, the Company’s ability to manage credit and debt structures from vendors, debt holders and secured lenders, the Company’s ability to successfully integrate its acquisitions, and other information that may be detailed from time-to-time in omniQ Corp.’s filings with the United States Securities and Exchange Commission. Examples of such forward looking statements in this release include, among others, statements regarding revenue growth, driving sales, operational and financial initiatives, cost reduction and profitability, and simplification of operations. For a more detailed description of the risk factors and uncertainties affecting omniQ Corp., please refer to the Company’s recent Securities and Exchange Commission filings, which are available at https://www.sec.gov . omniQ Corp. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by law.

James Carbonara
Hayden IR
(646)-755-7412
james@haydenir.com

Brett Maas
Hayden IR
(646) 536-7331
brett@haydenir.com

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Blog

OMNIQ Receives $7.8 Million Purchase Order From Leading U.S. Food Distributor

  • OMNIQ has now received over $13 million in orders from the same leading Food Distributor since February 2021
  • Customer with annual revenue of over $11 billion delivers products to more than 100,000 customers in North America.
  • OMNIQ to provide IoT advanced solutions for customer’s distribution centers in the US and Canada.
  • Contract includes Technical Support Services and device management software.

SALT LAKE CITY, Oct. 22, 2021 (GLOBE NEWSWIRE) — OMNIQ Corp (NASDAQ: OMQS) (“OMNIQ” or “the Company”), a provider of Supply Chain and Artificial Intelligence (AI)-based solutions, announced today that it has received approximately a $7.8 million purchase agreement from one of the largest food distributors in the U.S. and North America for the supply of mobile computerized IoT equipment designed to collect, identify, track and trace assets as well as share and connect as part of the supply chain system of the customer. Since February 2021, omniQ has now received over $13 million in orders from the same leading food distributor.

The new project will roll out across distribution centers in the US and Canada, starting in December and continuing into the first half of 2022

OMINQ’s multi-billion-dollar loyal customer continues to invest in automation and efficiencies implementing newest technologies in the supply chain operations as food distribution requires the highest standards of freshness, accuracy and care. The distinctive customer supplies food and related products to more than 100,000 customers including Healthcare entities, educational facilities, restaurants, hotels, convenience stores, cruise ships, amusement parks, stadiums, recreation centers and more.


Shai Lustgarten, President & CEO at Quest, commented, “This $7.8 million new order follows a $6.1 million contract we received in Q1 2021 from the same customer. Repeat business is a strong vote of confidence in OmniQ’s total IoT solutions, demonstrates the strength of our customer base and the advantages of our business model. The greater scope of this new project is also a terrific example of how we grow “deeper and wider” with our customers. Pursuant to this contract, we took complete responsibility over every aspect of the project: depot management, support, even the warranty, together with new device analytics management software.”

Mr. Lustgarten added, “Our portfolio of mobility products, ranging from voice-picking headsets to barcode scanners, enables smarter decision-making through effective data collection and analysis. We look forward to continuing our relationship with top tier customers like this one and many others, as we strengthen our offering with advanced AI-based technologies and machine-vision solutions.”

About omniQ Corp.
omniQ Corp. (NASDAQ: OMQS) provides computerized and machine vision image processing solutions that use patented and proprietary AI technology to deliver data collection, real-time surveillance and monitoring for supply chain management, homeland security, public safety, traffic & parking management, and access control applications. The technology and services provided by the Company help clients move people, assets, and data safely and securely through airports, warehouses, schools, national borders, and many other applications and environments.

omniQ’s customers include government agencies and leading Fortune 500 companies from several sectors, including manufacturing, retail, distribution, food and beverage, transportation and logistics, healthcare, and oil, gas, and chemicals. Since 2014, annual revenues have grown to more than $50 million from clients in the USA and abroad.

omniQ recently announced the closing of its acquisition of 51% of the capital stock of Dangot Computers Ltd (Dangot). omniQ has an option to purchase the remaining 49% of the capital stock. Dangot is an Israeli based leader in providing innovative technologies including: frictionless automated order processing & digital payment processing products for the retail, fast food and parking markets; integrated work stations for physicians, drug delivery and blood tests; robotics for smart warehouses; point of sales, self-check in management, and other state of the art solutions.

The Company currently addresses several billion-dollar markets, including the Global Safe City market, forecast to grow to $29 billion by 2022, and the Ticketless Safe Parking market, forecast to grow to $5.2 billion by 2023. For more information, visit www.omniq.com.

Information about Forward-Looking Statements
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.

This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “anticipate”, “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for the Company’s products particularly during the current health crisis , the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, the Company’s ability to manage credit and debt structures from vendors, debt holders and secured lenders, the Company’s ability to successfully integrate its acquisitions, and other information that may be detailed from time-to-time in omniQ Corp.’s filings with the United States Securities and Exchange Commission. Examples of such forward looking statements in this release include, among others, statements regarding revenue growth, driving sales, operational and financial initiatives, cost reduction and profitability, and simplification of operations. For a more detailed description of the risk factors and uncertainties affecting omniQ Corp., please refer to the Company’s recent Securities and Exchange Commission filings, which are available at https://www.sec.gov. omniQ Corp. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by law.

James Carbonara
Hayden IR
(646)-755-7412
james@haydenir.com

Brett Maas
Hayden IR
(646) 536-7331
brett@haydenir.com

Categories
Blog

OMNIQ Receives $1.8 Million Purchase Order for IoT “Contactless” Data Collection Solution from a Fortune 500 Leading IT Supply Chain Provider

  • Client Generates over $20 billion in annual revenue and serves more than 100,000 customers worldwide
  • OMNIQ’s suite of supply chain mobility solutions enable quick data collection , tracking and processing for corporate operations

LAKE CITY — omniQ Corp. (NASDAQ: OMQS) (“omniQ” or “the Company”), a provider of Artificial Intelligence (AI) and IoT – based solutions, today announced that it has  received  a purchase order with a total value of approximately $1.8 million from a Fortune 500 leading IT supply chain provider with more than 100,000 customers in over 100 countries, generating more than $20 billion in annual revenue.

The seven-figure order comes from a long-term customer for the implementation of Zebra data collection hardware.  Implementation of these devices will complete their move from WM to Android.

The purchase order includes rugged mobile computers (IoT) to be used in conducting automation of processes, digital monitoring and control and efficiencies throughout the supply chain level. OMNIQ’s suite of supply chain mobility solutions, which includes rugged handheld mobile computers, 2D Scanners and barcode printers with fast and dependable wireless connection, enable quick and accurate data collection, tracking and processing for critical supermarket functions, such as shipping and receiving and inventory and warehouse management. These devices provide a more “contactless” approach to the customer’s retail and logistics operations and will be integrated with the corporate automated services.

“Strong momentum continues with this $1.8 million order from one of the largest IT supply chain providers in the world and long-term customer of omniQ, said Shai Lustgarten, CEO of OMNIQ. “Our long-standing relationship and repeat business reflect the enduring quality and technology leadership of omniQ solutions that form a strong base for future growth.”About omniQ Corp.

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RFID Hardware RFID Software Transportation and Logistics

Is RFID Right for Your Supply Chain?

Radio frequency identification (RFID) uses electronic tags to store data that can be transmitted to a scanner/reader. This provides identification and tracking benefits similar to those from barcoding, but with the ability to store more information and to read tags without a line of sight. Also, multiple (in some cases, hundreds) of tags can be read at once, making the technology more efficient.

RFID has been deployed for supply chain management by many companies, but is RFID right for your specific supply chain? Here are seven questions to ask as you evaluate whether this technology is right for your business.

1. Are you looking for increased efficiency and accuracy?RFID can improve equipment, inventory, and business process visibility in ways that other technologies simply can’t. Moreover, it can do so with a much higher degree of automation than other identification technologies (like barcodes). RFID tags can be read on an ongoing basis using readers installed at dock doors, at partner facilities, and even inside trucks or shipping containers. This allows you to collect granular inventory data that is more accurate and timely.

2. Are you in a hurry?If you have to quickly deploy a system to address an inventory issue in your supply chain, then RFID may not be the answer at least in the short term. An RFID deployment requires more planning and development than a barcode system because of the intricacies of RF technology and the infrastructure requirements.

3. Do your supply chain partners use RFID?In a closed-loop system where you are shipping goods from your own warehouse to a retail location or customer site, radio frequency identification can be more beneficial because you can ensure that there will be RFID readers at each node. If you heavily use third-party logistics providers and other leased infrastructure, there may still be gaps. Quite a few 3PL specialists, however, offer RFID tracking capabilities that could be integrated with your own initiative.

4. Are you in an environment with a lot of metal or water?RF signals can be degraded or blocked by large amounts of metal or liquids. While there are RFID tags designed specifically to work reliably under these conditions, they are more complex to deploy and often more expensive. That will add cost and time to the deployment, and potentially limit your choice of technologies/providers.

5. What level of visibility do you need?There’s not necessarily a business case for item-level tracking in every category. Very cheap goods won’t benefit from RFID because the cost of the tags relative to the cost of the goods is too high.
That doesn’t mean there isn’t value in case- or pallet-level tagging. You can still have faster and more accurate inventory location data under that model, and generate a measurable ROI.

6. Is your environment challenging for barcode labels?RFID can be used in applications where traditional labels aren’t practical. If you can’t get line of sight on a label, then RFID may be a better option. The technology can also be used in harsh or dangerous conditions — tags can be read at very high or low temperatures, in the presence of dangerous fumes/chemicals, and in storage locations where label scanning might be a challenge. Durable RFID tags can also withstand conditions (like harsh cleaning or trips through an autoclave) that would be impractical for paper barcode labels.

7. Do you need more than just location data?RFID combined with low-cost sensors that measure temperature, vibration, and pressure can do more than just tell where your goods/assets are. They can provide real-time updates on conditions that affect the quality of the freight in question. For example, for cold chain applications (such as frozen food, pharmaceuticals, or fresh produce) RFID and sensors can produce an auditable record of the temperature of the inventory in order to ensure quality and safety.
Is radio frequency identification a good fit for your supply chain? In most cases, the answer is yes — provided you build the right business case prior to deployment. RFID can provide supply chain benefits beyond location tracking, making it possible to optimize operations in ways not previously possible.

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Industry Solutions Manufacturing Mobility Transportation and Logistics

How to Improve Food Safety Supply Chain Management

The food supply chain is a particularly complex one to manage. You need to take environmental and time constraints into account to make sure perishable items get from the point of production through processing, distribution, and retail/wholesale operations before they spoil. Food safety regulations that have emerged over the past few years have added more complexity.

Relevant regulations in this space include the Bioterrorism Act of 2002 and the FDA Food Safety Modernization Act (FSMA), which require improved data on food origins as well as lot and traceability information to help improve the recall process across the food safety supply chain. The U.S. Department of Agriculture also recently released new rules that even require grocery stores that grind raw beef products to keep records about where the meat came from, lot numbers and production dates, and the date and time each ground beef product was produced.

There have also been advances in detecting and tracking food contamination incidents. For example, there is PulseNet, which state public health laboratories use to analyze bacteria strains from sick individuals and then report to the CDC. The FDA Reportable Food Registry requires companies to report serious product contamination as well.

These new regulations also offer an opportunity for stakeholders across the industry to improve food safety supply chain management by leveraging technology to improve compliance, make the recall process faster and more accurate, and reduce costs. Companies can also improve their own safety performance in the following ways:

Carefully vet all suppliers, distributors, and carriers. Failure to comply with best practices when it comes to food safety can put your brand at risk, so make sure you know exactly where your products have been, including all storage facilities, trucks, and other stops along the way. Investigate the safety practices at those facilities. Find out what kind of testing they do, and how often.

Conduct regular audits. Establish a formal auditing process for your own facilities and those of your suppliers or carriers. This also will help you document your own food safety supply chain improvement efforts.

Create comprehensive purchasing agreements. Involve food safety professionals in outlining supplier agreements so you can minimize risk. Have requirements in writing relative to meeting federal and state rules and regulations, as well information on their own supplier agreements and notifications of any supply changes.

Maintain accurate labeling. The Bioterrorism Act of 2002 requires importers to provide a significant amount of information to the FDA prior to importation of food, including lot, code number or other identifiers, information about he submitter and transmitter, and other identifying data.

Likewise, the FSMA requires a comprehensive product tracing system to track the movement of food from the farm to the point of sale or service. This is so producers can contain outbreaks of foodborne illnesses more quickly.

Implement accurate tracking technology.  As in other industries, the food safety supply chain can benefit from the use of automatic identification technology. There are efforts worldwide to extend food supply chain tracking right back to the individual animal. Governments and suppliers around the world have invested in livestock traceability systems, often using RFID transponders, and these efforts can even extend to the point of delivery or purchase.

omniQ, for example, has developed an RFID-based tray tracking solution that allows bakeries to track deliveries and provide information about the baked goods on the tray to reduce stales and automate replenishment processes.  This also provides needed lot tracking control to identify exactly what batch of products went to what locations.

In addition to barcode and RFID labeling, there are number of high-tech approaches to automating food safety processes. For example, iCertainty and Zebra Technologies created a solution that combines iCertainty’s software, Zebra’s mobile computers, and wireless temperature probes to provide real-time information on food safety audits.  Temperature and other environmental measurements can even be gathered from the point of origin to delivery to ensure that conditions were not exceeded at any point in the journey.

Develop an emergency response plan for recalls and emergencies. With accurate food safety supply chain data in hand, you can perform more targeted recalls and get the contaminated food off the shelf much faster. Establish specific responsibilities for your own team, develop protocols for each supplier and retailer, and have a response team ready to inform consumers and work with the media.

By working with suppliers, creating a clear response plan, and leveraging automated tracking technology, food manufacturing and distribution companies can maintain compliance while also improving traceability and making the recall process faster and less expensive.

Categories
Transportation and Logistics

How to Develop an Effective Supply Chain Strategy

Supply chain management requires developing an effective supply chain strategy. Your supply chain strategy should focus on the efficient transfer and movement of inventory — it’s the only efficient way of balancing the often difficult-to-forecast pulls of customer demand and supplier availability.

What type of supply chain do you want? There is no one “right” way to organize and optimize a supply chain. Depending your industry and your goals, your supply chain may be organized around different sets of criteria.

Products with a short lifecycle may require a supply chain that focuses on speed; highly competitive industries may instead focus on supply chain efficiency in order to contain costs. If there is considerable uncertainty around demand, then responsiveness is more important than efficiency. A more flexible approach might be appropriate for industries where there are unexpected demand peaks or highly seasonal demand. Your strategy should be aligned with the business pressures and customer requirements you face in the real world.

Below we’ve outlined some of the most important steps required to develop an effective supply chain strategy.

1. Take a holistic view: Supply chain management requires more than just sales and inventory information. Forecasting technology has become much more reliable and granular. Forecasting tools backed by high-performance computing resources can generate reliable forecasts based on sales data as well as outside demographic data, geographic trends, and even weather forecasts.

Your supply chain strategy should involve integrating the flow of information both upstream and downstream so that all stakeholders can respond to these demand signals in a timely fashion.

2. Take heed of industry trends: Each industry has its own set of demand drivers, industry standards, and supply chain management protocols. These change and evolve over time. While you can’t reconfigure your supply chain strategy in response to every passing technology or inventory management fad, it’s not too difficult to see which way the proverbial wind is blowing when it comes to major shifts.

If a number of your suppliers are beginning to demand certain types of information or are shifting to just-in-time supply models, or if suppliers seem to be coalescing around a particular data standard, you should at least prepare to change your supply chain strategy so that you’re ready to adopt the changes when it is prudent. You can wait and see, up to a point; a worse strategy is stubbornly resisting to avoid disruption or technology investments. If your company winds up on the outside of what has become an industry standard, it could cost you a lot more in lost business in the long term.

3. Understand your company’s unique value proposal: What is your competitive positioning within the supply chain? What are the minimum requirements that will make you an option for customers, and what elements can differentiate you from competitors in the supply chain? Your strategy should focus on that differentiation, and the added value you can provide through your supply chain.

4. Incorporate risk management: Identify the risks to optimal performance, both internal and external. What are the weakest or least secure “links” in your supply chain? How can you mitigate those risks? Come up with action plans, identify alternate suppliers or transportation resources, and assign team members for specific response actions when there is a breakdown in the supply chain.

Finally, implement your supply chain strategy in such a way that you can continuously monitor performance and adjust accordingly to enable improvement.

The supply chain strategy development process is both cross-functional and requires continuous monitoring and adaptation. Markets change. Your customers and suppliers change. By implementing a continuous improvement process, your supply chain strategy can quickly adapt and respond to those changes.