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.
Put this five-step plan into action to address supply chain problems while laying the foundation for a balanced, effective supply chain strategy going forward. The recommendations include both tactical and strategic approaches for optimizing your supply chain from end to end. You’ll learn how to proactively:
- 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 a supply chain control tower, using 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.
MANAGING DIRECTOR, GLOBAL SUPPLY CHAIN PRACTICE
TBM CONSULTING GROUP
Brian helps clients make operational improvements, reduce working capital and improve service levels while lowering the overall cost to serve. Learn More About Brian Cromer.
VICE PRESIDENT, SUPPLY CHAIN & TECHNOLOGY
Ken is a 25+ year veteran of manufacturing, operational excellence and supply chain optimization. Learn More About Ken Koenemann.