{"id":95536,"date":"2025-09-16T14:38:08","date_gmt":"2025-09-16T18:38:08","guid":{"rendered":"https:\/\/www.rbcroyalbank.com\/en-ca\/?post_type=rbc_my_money_matter&#038;p=95536"},"modified":"2025-09-16T14:38:10","modified_gmt":"2025-09-16T18:38:10","slug":"how-effective-supply-chain-management-can-strengthen-your-business-as-it-grows","status":"publish","type":"rbc_my_money_matter","link":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/commercial\/how-effective-supply-chain-management-can-strengthen-your-business-as-it-grows\/","title":{"rendered":"How Effective Supply Chain Management Can Strengthen Your Business as it Grows"},"content":{"rendered":"\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<div class=\"wp-block-rbc-rbc-block drop-shadow pos-rel top-line-blue block-wpr\">\n<div class=\"wp-block-rbc-rbc-block-inner-block block-inner\">\n<h4 class=\"wp-block-heading\" id=\"h-tldr\">TLDR<\/h4>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>If businesses don\u2019t adapt their supply chain processes as they grow, they could be exposed to risks such as not meeting customer demands, leaving money-saving opportunities on the table, and missing chances to improve supplier performance.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Investing in relationships with suppliers and establishing quality measures is key to building a robust supply chain.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Managing multiple suppliers could enable businesses to act quickly in the face of unexpected challenges or delays.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Effective supply chain management can help partners to better anticipate business needs, maintain consistency, and offer better prices or value-add services.<\/p>\n<\/li>\n<\/ul>\n<\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<p>A medium sized business cannot survive with a small business\u2019s supply chain strategy.<\/p>\n\n\n\n<p>While smaller-scale operators can sometimes get by with relatively ad-hoc supply chain practices, some businesses may find that those informal systems need to evolve alongside the size and complexity of the organization.<\/p>\n\n\n\n<p>Without adapting as the wider organization grows, businesses could find themselves struggling to meet customer demands on time and on budget, with higher exposure to significant vulnerabilities, or potentially leave opportunities to save money or improve supplier performance on the table.<\/p>\n\n\n\n<p>That was the case for Burnaby-based <a href=\"https:\/\/osimaritime.com\/\" data-dig-id=\"LP-95536-725e38db\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"OSI Maritime Systems\" class=\"rbc-link-format\">OSI Maritime Systems<\/a>. Founded over 30 years ago as an electronic charting software provider for marine vessels, the company pivoted about 12 years ago into hardware.<\/p>\n\n\n\n<p>Today it custom builds the large and complex hardware navigation consoles, known as bridges, that sit inside the command decks of 26 NATO member and NATO-allied navies around the world. The company\u2019s sophisticated hardware helps ships navigate waterways globally, detect underwater obstructions, even monitor the skies above.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-develop-supply-chain-practices-as-the-business-grows\">Develop supply chain practices as the business grows<\/h2>\n\n\n\n<p>The pivot enabled the company to quadruple in size over the last decade, but its procurement, supply chain and vendor management strategies did not evolve with it\u2014at least not at first.<\/p>\n\n\n\n<p>\u201cThe procurement team at the time only had a couple of people, and you\u2019d potentially have two or three people going to the same supplier for the same type of parts,\u201d says Chris Knabe, OSI\u2019s director of production and supply chain. \u201cIt was just not very well coordinated, and you\u2019re not getting efficiencies from the supplier, because you\u2019re not leveraging the demand correctly.\u201d<\/p>\n\n\n\n<p>That\u2019s ultimately what inspired OSI to bring Knabe and his 25 years of experience in contract, supply chain and logistics management onboard.<\/p>\n\n\n\n<p>He explains that OSI\u2019s bridge systems are typically custom made for specific ship models within each navy\u2019s fleet, meaning many of its products are one of a kind. In fact, no customer has ever ordered more than 12 of a product with identical specifications. &nbsp;<\/p>\n\n\n\n<p>Being a low-volume business, however, means there is very little room for error in the supply chain, as a single missing piece or delayed delivery can hobble the company\u2019s ability to deliver on time, on budget, and up to its standards.<\/p>\n\n\n\n<p>Knabe says that previously, the now 400-person company was able to get by making one-off orders for its custom-made components, but as it grew that approach proved unsustainable.&nbsp;&nbsp;<\/p>\n\n\n\n<p>After joining OSI roughly two and a half years ago, Knabe got to work developing a sophisticated supply chain strategy that better suited the company\u2019s current size and future ambitions.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-prioritize-relationship-management-and-clear-targets\">Prioritize relationship management and clear targets<\/h2>\n\n\n\n<p>First, Knabe says he organized the company\u2019s external inputs into four categories: Major systems, metalwork, electrical, and electronic devices.<\/p>\n\n\n\n<p>\u201cWe have a team of category leads reporting to the purchasing manager, who reports to myself, and each one of those category leads is responsible for a different type of product that we outsource,\u201d Knabe explains.<\/p>\n\n\n\n<p>Supplies within each category are further separated into those which are broadly available and those that are custom made.<\/p>\n\n\n\n<p>While category leads are constantly on the lookout for better off-the-shelf components, Knabe says they spend most their time managing relationships with suppliers of more specialized and bespoke components.<\/p>\n\n\n\n<p>\u201cCategory leads hold a meeting on a quarterly basis where they go through all of our key performance indicators for our suppliers, which include cost, lead time, on-time delivery, quality, customer service and innovation,\u201d he explains. \u201cWe look at those on a quarterly basis, and we come up with a vendor performance scorecard that ranks them on a ten-point scale.\u201d<\/p>\n\n\n\n<p>Those scorecards, Knabe says, aren\u2019t just for internal use. OSI meets with each supplier of its core components to review the scorecard quarterly, semi-annually or annually, depending on their size and sophistication, and highlights potential opportunities for improvement.<\/p>\n\n\n\n<p>\u201cIf they scored, say, a six in terms of their on-time deliverables, and we think it\u2019s realistic that you should be able to get up to a seven or eight by the time we do our next performance review, we&#8217;ll establish that as a target,\u201d he says. \u201cOnce we get through the entire vendor management review we&#8217;ll sign off on the report card, and then that&#8217;ll be the baseline that we can compare them to the next time we do it.\u201d<\/p>\n\n\n\n<p>While implementing a system that encourages vendors to strive for better performance over time, Knabe says OSI also formalized its processes for managing unexpected challenges that arise between reviews.<\/p>\n\n\n\n<p>\u201cIf it&#8217;s a technical non-compliance, then we issue a supplier corrective action request, and they need to identify the root cause and the corrective action,\u201d he says. \u201cIf it&#8217;s a commercial non-compliance\u2014like they tried to charge us the incorrect price, or the lead time was longer than what they said it would be, or we have a defect that\u2019s covered under warrant \u2014then we&#8217;ll deal with it through a contract or claims letter.\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-reduce-unexpected-risks-with-multiple-suppliers\">Reduce unexpected risks with multiple suppliers<\/h2>\n\n\n\n<p>Even those suppliers getting top marks are not immune to sudden and unexpected challenges. For example, a contractor in Taiwan was unable to make its shipments on time due to a recent earthquake.<\/p>\n\n\n\n<p>Pivoting in an emergency is a lot easier said than done, as it typically takes OSI six to 12 months to onboard a new supplier of complex parts and complete their due diligence, meaning they need alternative options at the ready.<\/p>\n\n\n\n<p>\u201cThat redundancy in terms of our supply chain is really important,\u201d he says. \u201cIf a supplier has some sort of catastrophic event that puts them out of business, we need to make sure that we have someone set up elsewhere in the world so we can keep going as a business, because these things can\u2019t usually turn on and off overnight.\u201d<\/p>\n\n\n\n<p>Having multiple suppliers for the same component can introduce compatibility and consistency challenges. That is why OSI uses the same supplier for the entirety of each individual project but maintains relationships with multiple suppliers that offer the same or similar materials and expertise. &nbsp;&nbsp;<\/p>\n\n\n\n<p>\u201cIf two shops are supplying the same parts on the same project, there\u2019s rework and fitting that we\u2019ll have to do in-house, and it becomes more of a protracted process that\u2019s more prone to errors and issues,\u201d Knabe explains. \u201cSo, for projects 1, 2 and 3 we\u2019ll use all of supplier A\u2019s product, and for projects 4, 5 and 6 we\u2019ll use all of supplier B\u2019s product.\u201d<\/p>\n\n\n\n<p>Though either supplier could provide all the materials and components OSI needs, the dual-source or multi-source approach allows them to quickly pivot should one run into unexpected challenges or delays.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-benefits-of-effective-supply-chain-processes\">The benefits of effective supply chain processes<\/h2>\n\n\n\n<p>These strategies help OSI better manage supplier relations and ensure they\u2019re able to acquire quality parts on time and on budget, but the benefits extend well beyond their internal operations.<\/p>\n\n\n\n<p>Knabe explains that getting organized internally also helps their external partners better anticipate and meet their needs, maintain consistency, even offer better prices or value-added services.<\/p>\n\n\n\n<p>\u201cRather than buying one project&#8217;s components, we forecast what we&#8217;re going to need for the next 12 months, we get them to quote their best bulk price based on our forecasted usage over a 12-month period, and then we enter long-term agreements,\u201d he says. \u201cNow we can do much more creative and flexible things within our supply chain, like get them to advance-buy materials that go into our products, hold stocking quantities for us, and inform us if anything in their supply chain is going to impact us in the future.\u201d<\/p>\n\n\n\n<p>For example, one of OSI\u2019s circuit board assembly providers recently switched from ongoing to annual production. Previously, OSI would have only discovered that a key component wasn\u2019t readily available after they placed their order, potentially delaying the project.<\/p>\n\n\n\n<p>\u201cNow they&#8217;re holding a minimum quantity of that for us at all times, and as soon as they get below that minimum quantity\u2014without our authorization\u2014they&#8217;ll go and order more because they know we&#8217;re going to consume it,\u201d Knabe says. \u201cThose are the types of things that allow us to scale as an organization, and over the next five years we have a growth plan to double in size, so these types of initiatives are really important for meeting that growth trajectory.\u201d&nbsp;<\/p>\n\n\n\n<p><em>Speak with an RBC Relationship Manager or Trade Finance Specialist to learn more about how RBC can assist with your international plans.<\/em><\/p>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse834a1009\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse834a1009\" data-dig-id=\"LP-57738-834a1009\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Things our lawyers want you to know\"><span>Things our lawyers want you to know<\/span><span>Things our lawyers want you to know<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse834a1009\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.<\/p>\n<\/div>\n<\/div><\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>OSI Maritime Solutions share their best practices for supply chain efficiencies.<\/p>\n","protected":false},"author":90,"featured_media":95542,"parent":57338,"menu_order":0,"template":"wp-custom-template-mmm-sticky-nav","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"tags":[573,558],"rbc_content_type":[31],"rbc_audience":[110],"rbc_lob_group":[35],"rbc_difficulty_level":[70],"rbc_mmm_category":[305,391,326],"class_list":["post-95536","rbc_my_money_matter","type-rbc_my_money_matter","status-publish","has-post-thumbnail","hentry","tag-commercial-client-success-stories","tag-supply-chain","rbc_content_type-article","rbc_audience-business-owners","rbc_lob_group-business","rbc_difficulty_level-intermediate","rbc_mmm_category-business","rbc_mmm_category-commercial","rbc_mmm_category-right-sized-business-advice"],"acf":{"contently_publication_id":"","custom_author":"Royal Bank of Canada","rbc_video_header":"","rbc_media_duration":"","rbc_toc_for_mmm_tag":"h2","rbc_toc_for_mmm_limit":6,"rbc_toc_for_mmm":null,"rbc_toc_for_mmm_action":"Generate Table Of Contents"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.7 (Yoast SEO v26.8) - 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