How your supply chain can prepare to address disruptions
By Jonathan Wright | 1 minute read | March 25, 2020
You can’t predict the future, and we can agree disruption is inevitable. However, you can prepare for these disruptions.
In order to quickly react to escalating situations and help reduce impact, supply chain leaders need to consider enhancing structural risk management and visibility into the tertiary supply base. The data generated can enable smarter collaboration, and the ability to predict future patterns and proactively anticipate disruption.
Reduce impact through fast response times
Today’s global supply chains are complex. With numerous partners across multiple geographies, the result is in an intertwined global trade ecosystem–highlighted by the volatility of the current market. Organizations can experience upstream and downstream issues more intensely during times of disruption. Gaining visibility to and understanding the potential risks that can rapidly disrupt tier 2 and tier 3 suppliers can help organizations better plan for these situations.
Prepare for the future with a reimagined supply chain
To help better prepare for future, unpredictable events, enterprises should consider reimagining their supply chain processes as intelligent workflows to reach new levels of responsiveness. By creating intelligent workflows that challenge siloed processes, supply chain leaders can uncover efficiencies across processes and partners.
These new supply chain workflows, supported by AI and other emerging technologies such as automation, blockchain, IoT, 5G and edge computing, can help deliver desired outcomes at scale. Using the new workflows, you can help predict emerging patterns of unanticipated disruption and strengthen your global supply chain by providing quick response times and greater preparation for unpredictable events.
Transformation opportunities can be available at any step of the value chain, from demand planning, to manufacturing execution or order orchestration and fulfillment.
Intelligent workflows can help transform the intersection of people, processes and technology and enable supply chain professionals to deliver more effective and efficient strategies. They help provide information flow and decision rights to optimize environments that continually change.
Plan for the unpredictable
While you can’t see the future, you can learn from past experiences to better prepare. There will always be unforeseen challenges that arise. By understanding your organization’s response and implementing strategies to help mitigate risks, you can help reinforce your supply network and strengthen your global supply chain.