Weathering the Storm - Why Chain Resiliance is Always in Season
Duane Kotsen of Marlborough Street Partners and Deepak Mittal of Next Gen Invent had an informative webinar discussion on why resiliency in Supply Chain is so important today.
The vulnerabilities of supply chains have been all too obvious in recent years. Yet companies that have dealt with problems often put the thought of supply chain disruptions back of mind rather than anticipating and planning for future disruptions. This webinar discussed the state of play in supply chain risks and what you can do about it.
View the Webinar here: https://lnkd.in/e52_4dCT
Some key takeaways
1. Don’t expect all the factors that impact your supply chain to remain constant – THEY WON’T! Multiple meta-factors are constantly roiling the world, and at some point they will have their way with your supply chain. Consider:
Geopolitical tensions
Global warming
Rising labor costs
Significant changes in Demographic
Deglobalization
All will adversely affect how today’s supply chain functions. To minimize the inevitable disruptions to come you need to practice risk management.
2. Apply AI to help solve these challenges. You have the data you need already. Now is the time to put it to use.
§ Numerous solutions exist. But keep in mind that, depending upon just what you are trying to achieve with AI, the solution you need may require a custom approach to implement.
Start by getting informed and/or getting help. There are many resources available ranging from books and articles to consultancies and software tools. These can help to educate you as to the approaches and tools available and help increase your focus on supply chain resiliency.
3. Don’t make this a responsive once-in-a-while event. Be proactive and create a cadence.
Learn from the largest and best run firms today and create a process and a periodic frequency where you look at the resiliency of your supply chain on recurring basis.
Focus on most impactful/riskiest products first by creating a frequency and cadence where you constantly evaluate the resiliency, alternatives, and emergency actions you will take when the unforeseen DOES happen.
View the Webinar here: https://lnkd.in/e52_4dCT
Duane Kotsen, Partner