Discover 5 best practices for a future-proofed supply chain strategy.
With suppliers around the world trying to get back on track, millions of parts stranded in ports, and customers artificially inflating orders, global supply chains remain in disarray. Manufacturers that proactively tackle the problems both tactically and strategically can use this opportunity to rise above the chaos and optimize their supply chains for success in our new global reality.
Global supply chains have taken quite the beating due to recent events. And many manufacturers are still feeling the pain. In a world where risk is real and needs to be quantified as a key factor in your supply chain decisions, companies need to reconfigure sourcing and find the best balance between costs, inventory, and risk to meet the demands of their customers going forward.
Five-step plan into action to address supply chain problems while laying the foundation for a balanced, effective supply chain strategy going forward:
- Put boots on the ground at key suppliers to identify and resolve supplier issues and negotiate the most favorable terms.
- Begin searching for alternative suppliers to help de-risk your supply chain and bake in more resiliency.
- Examine “packets of work” and identify opportunities for in-sourcing while preparing your business to handle the increased workload.
- Put a dollar value on risk and make it part of a three-pronged supply chain strategy that balances cost, inventory, and risk.
- Leverage data analytics to identify sudden shifts in customer trends for production guidance.
Complete the form to download "Five Best Practices for a Future-Proofed Supply Chain Strategy"and take the first steps to reconfiguring a balanced supply chain that puts your business in the best position to succeed regardless of when disruption hits.