Supply chains are designed to withstand disruptions, but a major global upheaval like the coronavirus pandemic strains every system. Disruptions like this prove that companies need to rethink traditional operational-platforms and recognize the importance of flexibility and contingency.
Coronavirus highlighted the underlying weaknesses in current strategies as well as gaps in planning, channels, and communication. Without strength and cohesiveness in these areas, the supply chain struggles to meet customer demand in a quick, secure, and consistent manner. Resilience is key.
Supply-chain resilience can help to not only protect against unforeseen disruptions but anticipate and prepare by assessing tactical operational challenges. Assessing these challenges continuously allows for better responses to market conditions and customer needs.
Companies and their supply chains can build resiliency and ready themselves for the restart of the economy by addressing the following questions:
- Should inventory be re-positioned?
- What production constraints can and should be adjusted?
- Should your company remap your item-level segmentation?
- How can you prepare and train for probable scenarios and determine their validity?
- What new metrics should you implement and review?
- Should you switch focus from cost reduction to security of supply?
It is time to scale a business-continuity mindset by assessing how to automate processes, protocols, and tools needed for flexible data modelling and visualization.
Download our content to learn how a focus on real-time digital supply-chain visibility, a what-if mentality, and well-defined risk protocols with strategic metric supports will create a foundation for an effective recovery.
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