What separates companies that thrive from those that stall in today’s chaotic landscape? In this Supply Chain Byte, Lisa Anderson shares how companies are taking advantage of the current turmoil and turning it into opportunity.
We are emerging from a risk-laden environment characterized by extreme geopolitical, supply chain, and cyber risk. For example, the world has been a bed of risk events impacting supply chains with the drought in the Panama Canal, the Russian invasion of Ukraine, the Iran-backed Houthi rebels attacking ships in the Suez Canal etc. During times of turmoil, proactive leaders willing to take prudent risks will have the opportunity to shoot to the top of their industry or market for decades to come.
Who will take advantage? Those who invest in regional supply chains, domestic manufacturing capabilities, talent, advanced technologies, and predictive processes such as SIOP (Sales Inventory and Operations Planning). SIOP allows you to stay ahead of changing customer conditions, predict capacity, determine how to take advantage of advanced technologies and reduce dependence of low-skilled labor, and create products quickly. The innovative and prepared will thrive and the competition will quickly deteriorate while they wait for absolute clarity.
Whether you’re facing labor issues, market volatility or supplier uncertainty, discover how to take the lead when others fall behind.
If you are interested in reading more on this topic:
Advanced Technologies in the Supply Chain