Supply chain disruptions stem from two types of risk: internal risks, which companies can reduce and thus control, and external risks they can’t control. In today’s vast supply chains, companies contend with both, though in different ways. Internal Risks Internal risks—mainly supply chain ine...
By understanding the causes of supply chain disruptions, businesses can take steps to minimize their impact. This can include investing in redundancies and backup systems, developing plans for dealing with crises, and diversifying supply chains. By taking proactive steps, businesses can protect themselve...
Transparency is fundamental to trust, so be honest with customers and employees about your supply chain disruptions. Explain how they might be affected and how you plan to handle it. Tell customers what’s happened and any delays or interruptions they can expect. Let your team know how producti...
Supply chain resilience requires an organization to adapt, innovate and adapt its business processes in the face of uncertainty. Unplanned disruptions at any point along the supply chain can produce a cascading effect and if unprepared, can challenge a company’s stakeholders ability to respond to c...
Since the onset of the COVID-19 pandemic,we have asked supply chain leaders annually about their efforts to overcome disruptions, mitigate risks, and build resilience in their operations. Our third and most recent survey shows that companies have made significant progress on measures that have been...
“trust but verify” mentality has been tested, as a lot of the trust systems had in their suppliers was lost during the pandemic. The focus now is more around verify, validate and provide the visibility, to avoid any large-scale supply chain disruptions. Data has become key—along with ...
Many of the supply chain risks predicted for 2022 came true. Here’s a look back at the year’s disruptions and their defining moments.
Supply chain disruption is omnipresent and unpredictable. Disruptions can stem from natural disasters, pandemics, political instability, economic upheaval, cyberattacks, supplier threats and rapid changes in consumer demand. What differentiates greatCSCOsis how they turn these supply chain disruptions into ...
The disruptions of the last few years have pushed this “back-office” function into the spotlight, making supply chain transformation one of the top five priorities for many CEOs. As businesses grappled with crises including plant shutdowns, bottlenecks in shipping lanes, and labor shortages, th...
Supply chain forecasting and weather forecasts have more than one thing in common. Both make predictions based on past and present information. Both use hard data, and sometimes intuition, to varying degrees of accuracy. And in both cases, something that didn’t appear on the radar can leave ...