Stages of rapid change require predictive information so we can take swift action to win in the future. Act now to track the right metrics across your tiered supply base to enable proactive supplier risk management to thrive during times of economic volatility.
As a wide range of industries turn on production lines after the mandated COVID-19 shutdowns, they’ll do so with strained supply bases. We must quickly embrace our new normal and reduce supply risk if our businesses are to succeed in the days ahead.
Whether or not purchasing teams will succeed in their efforts to build strategic alliances to reduce risk comes down to how effectively they understand their supply bases through segmentation.
Our recent study of a sample of manufacturers identified why documenting and analyzing supply chain risk must be an essential part of continuous improvement.
Due to the immense resources required to bring complex products to market on a global scale, supply chain professionals must foster earlier and closer supply-partner relationships to stimulate the intimate collaboration needed to realize the mutual value that can be created from lean extended-enterprise concepts.
Companies who fully integrate a formal environmental management system (EMS) can reap significant benefits internally and externally in terms of a sustainable supply chain strategy, while other plants struggle with sustainable development, integration, and compliance.
The best performing supply chain operations in the world didn’t start out as highly efficient profit centers. Through struggle and sometimes failure, leading companies have refined, adapted, and improved processes to meet the needs of the organization and customers.
This blog post is the continuation of our Identifying the Factors for Successfully Managing Supply Chain Risks – Factor 4 – Performance Metrics (Part 4 of 5) research post. Our recent study to better understand supply chain risks focused on the structure, implementation, and maintenance of a formal system for managing risks in the supply chain.
Actionable insights from IndustryStar on ways to expedite, optimize, and de-risk your supply chain operations.