Top 10 Consulting Firms: McKinsey & Company
With over 90 years experience in management consulting, McKinsey offers expert advice to its clients to help transform operations. McKinsey aims to help create a lasting impact in global manufacturing and supply chain operations, and has listed six ways to help its clients in the supply chain.
Use supply chain and manufacturing operations to create winning strategies
McKinsey empowers clients through the design and launch of operational strategies that will be long-lasting, while creating agility and a product portfolio that is appropriately optimised.
Take a holistic approach to transformation to capture end-to-end value
The company shows clients how to create the next S-curve to uncover value that is hidden at the intersection of functions. McKiinsey leverages and utilises digital and analytics to rethink and innovate manufacturing and supply chain operations.
Transform manufacturing processes for better productivity
McKinsey helps companies to increase productivity and the effectiveness of core processes, through offerings that cover everything from digital diagnostics to plant transformations, order management, asset productivity, predictive maintenance and lean warehousing.
Boost operational health by identifying skill gaps and building capabilities
McKinsey collaborates with clients to build foundational enablers and develop skills through capability building to develop rapid and sustained impact.
Foster a quality culture to create competitive advantage
The company helps clients to consistently meet and exceed customer expectations at every touchpoint through benchmarking, forming both quality and compliance strategies, as well as remediation services across the entire value chain and lifecycle.
Leverage digital and autonomous supply chain opportunities
McKinsey helps clients to leverage the opportunities of supply chain 4.0 by incorporating IoT, robotics and analytics - which results in a system which enables organisations to react efficiently - as well as improving both company performance and customer satisfaction.
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McKinsey has been carbon neutral since 2018. With a drive to reduce its greenhouse gas emissions while offsetting all remaining emissions. It has set targets to decreasing emissions in alignment with the Paris Agreement. Its ambitions include cutting direct emissions and those from purchased energy by 60% by 2030 and by 90% by 2050. While also a member of RE100, McKinsey is committed to acquiring 100% renewable energy by 2025.
Nearly half of McKinsey’s global office space has achieved green-building certification. The company aims for the highest standards for new offices and major renovations (LEED Gold or Platinum). Across over 90 of McKinsey’s offices, Green Teams that are headed up by passionate colleagues are driving over 230 environmental initiatives to decrease its footprint and create awareness about environmental sustainability.
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Pandora and IBM digitise jewellery supply chain
Pandora has overhauled its global supply chain in partnership with IBM amid an ecommerce sales boom for its hand-finished jewellery.
The company found international success offering customisable charm bracelets and other personalised jewellery though its chain of bricks and mortar retail destinations. But in 2020, as the COVID-19 outbreak forced physical stores to close, Pandora strengthened its omnichannel operations and doubled online sales.
A focus on customer experience included deploying IBM’s Sterling Order Management, increasing supply chain resiliency and safeguarding against disruption across the global value chain.
Pandora leverages IBM Sterling Order Management as the backbone it its omnichannel fulfilment, with Salesforce Commerce Cloud powering its ecommerce. Greater automation across its channels has boosted the jeweller’s sustainability credentials, IBM said, streamlining processes for more efficient delivery. It has also given in-store staff and virtual customer service representatives superior end-to-end visibility to better meet consumer needs.
Jim Cruickshank, VP of Digital Development & Retail Technology, Pandora, said the digital transformation journey has brought “digital and store technology closer together and closer to the customer”, highlighting how important the customer journey remains, even during unprecedented disruption.
"Our mission is about creating a personal experience and we've instituted massive platform changes with IBM Sterling and Salesforce to enable new digital-first capabilities that are much more individualised, localised and connected across channels and markets,” he added.
Pandora’s pivot to digital
The pandemic forced the doors closed at most of Pandora’s 2,700 retail locations. To remain competitive, it pivoted to online retail. Virtual queuing for stores and virtual product trials via augmented reality (AR) technology went someway to emulating the in-store experience and retail theatre that is the brand’s hallmark. Meanwhile digital investments in supply chain efficiency was central to delivering on consumer demand.
“Consumer behaviour has significantly shifted and will continue to evolve with businesses needing to quickly adapt to new preferences and needs,” said Kareem Yusuf, General Manager, AI Applications and Blockchain, IBM. “To address this shift, leading retailers like Pandora rely on innovation to increase their business agility by enabling and scaling sustainable supply chain operations using AI and cloud.”
Yusuf said Pandora’s success was indicative of how to remain competitive by “finding new ways to create differentiated customer experiences that protect their enterprises from disruptions to help mitigate risk and accelerate growth”.