Balance your risk and regulatory concerns with cost, quality, and service level considerations to make sounder supply chain decisions.
For many decades, manufacturers have enjoyed the luxury of sourcing from just about anywhere in the world without having to worry too much about the risk factors involved with global operations. COVID-19 has changed the game, at least for the foreseeable future. And that means supply chain decisions are going to suddenly become more complex than they have been in recent years.
Download the reconciling your supply chain article and checklist for answers to critical questions, including:
- How can you use the 80/20 rule to de-risk your network? How much is too much when it comes to assigning volume to one supplier?
- What are the new priorities when it comes to choosing suppliers? The partner that provides the best cost, quality, and service may seem good on the surface, but is it really best for your business?
- Are you fully optimizing your internal capabilities? Outsourcing certain elements of production is inevitable, but make sure you assess your internal capacity first.
You can also visit the TBM COVID resource center for manufacturers for more information on how to respond and prepare for the long-term implications of COVID-19.