Supply chain disruption has increased drastically in the last few years.
The traditional supply chain formula of minimizing costs and maximizing efficiency is no longer enough.
In collaboration with Manufacturers Alliance, Deloitte conducted a study highlighting a range of new approaches and tools that manufacturers are deploying as disruption becomes the norm.
The study also reveals that shipping parts and transportation delays due to truck driver shortages and congested ports had the greatest impact on manufacturing companies in the past couple of years.
Here are some of the risk mitigation strategies manufacturers are now pursuing to reduce business disruption:
– Strengthening existing relationships
– Engaging multiple suppliers
– Implementing digital solutions for greater visibility
– Combining efficiency with resilience
What else are you doing to address the supply chain challenges?
