In the wake of the recent pandemic and the ongoing war in Ukraine, supply chain resiliency has come into sharp focus.
Supply chain constraints often have a ripple effect that is felt in the entire economy, and companies must be prepared to weather any disruptions that come along.
Some factors that can affect the resiliency of a supply chain include environmental uncertainty, global or national regulatory policies, demand and supply shocks, impacts of new technologies, etc.
As a manufacturing leader, here are some steps you can take to build resilience into your supply chain:
– Develop contingency plans for disruptions.
– Build up inventory to provide a buffer in the event of a disruption.
– Improve communication and collaboration to identify potential problems early and take steps to avoid them.
– Be flexible to adapt to changes and disruptions more easily.
– Encourage suppliers to diversify their supplier base.
