2020 has already defied all business-planning models. Every business has been hit with challenges and disruptions. Global supply chains strained under the lockdowns and shifts in demands, exposing a lack of contingency preparedness. The companies which responded successfully demonstrated both agility and flexibility in supply-chain operations.
As the world adjusts, the manufacturing supply chain needs to be more resilient to absorb impacts and minimize disruptions now and in the future. Businesses need to be prepared with the right systems to respond and pivot to market and demand changes more easily.
The solution involves a quick plan to recover and fix immediate short-term needs while preparing for a longer plan to reinvent the supply chain and mitigate future shocks, including:
The new supply chain needs agile operations and new capabilities to predict, respond, and make informed data-driven decisions to navigate future disruptions.
Read how to build the right foundation now to prepare for the future in Mitigating supply-chain shocks requires a sprint and a marathon.