Our Value Chain Management Center-of-Excellence (COE) is now in full swing...
The pursuit of Value Chain Management (VCM) best practices is seen as an industry mandate for C+H firms around the globe. Why?
Because as Cannabis and Hemp industry sectors devolve into commodities over the next several years, VCM processes, practices and "open standards" help a company squeeze every last cent of profitability out of their operations, while eliminating all forms of waste, such as excess inventory.
What most people don't realize is that VCM is a strategic activity, not a tactical one!
This means that the top executives of a Cannabis and Hemp company need to lead the Value Chain Management program initiative. They need to be able to write the business charter for VCM and they must also identify what we call "the burning platform for business change".
If the VCM charter is not in place, OR the "burning platform" has not been identified, then there's a major issue!
Lastly, your firm's VCM charter needs to be tightly linked to your M&A strategy, so it makes sense to ensure that all execs who are leading the corporation and / or the M&A strategy need to be totally fluent in the jargon and business objectives that underpin Value Chain Management.