Supply Chain Lessons from Amazon’s Jeff Bezos

 

 

Mike Regan, Chief of Relationship Development at TranzAct Technologies talks about the shareholder letter that Jeff Bezos recently wrote to Amazon stakeholders and the company's emphasis on innovation. By Mike Regan

 

June 08, 2017

Recently I heard a speaker proclaim that Amazon is not just a company, it is a way of doing business.
I thought that was a bit strange until I read Jeff Bezos' Annual Letter to Amazon shareholders.
I know you are extremely busy, but you need to read this letter.
Not only will it help you understand Amazon's success, but based on input from some CEO buddies that I shared the letter with, it may very well have a profound impact on how you view your business.
The letter starts out by asking: "Jeff, what does Day 2 look like?" He then talks about the difference between "Day 1" and "Day 2" companies.
Cutting to the Case
In Day 1, companies are growing and thriving because of their commitment to core values - in Amazon's case this means its dedication to the customer and commitment to innovation.
In Day 2, companies are willing to accept the status quo - there’s no longer a commitment to innovation and these companies are, in Jeff's words, headed to death.