Strikes and labor negotiations highlight need for resilient supply chains
Companies can mitigate the volatility caused by labor disputes by rethinking sourcing strategies, upgrading planning processes, and using advanced technology.
Companies can mitigate the volatility caused by labor disputes by rethinking sourcing strategies, upgrading planning processes, and using advanced technology.
Given the uncertainty of the economy creating extreme push outs and pull ins with customer orders, only those companies that can successfully deal with uncertain and changing conditions can thrive. Companies that automate, create value and digitize will drive bottom-line results.
Volatility, uncertainty, complexity, and ambiguity (VUCA) have plagued medtech’s supply chain since the pandemic. Drug shortages last year hit their highest levels in a decade, with 99% of hospital and health system pharmacists experiencing medicinal dearths, according to an American Society of Health System Pharmacists (ASHP) survey.
There has been a plethora of strikes, potential strikes and disruptions in the last few years. In fact, the threat of strikes has made its way through the supply chain.
According to the WorldMetrics.org report, 89% of manufacturers believe automation is key to increasing productivity. More importantly to increasing profitable growth, the report also finds that automation reduces manufacturing lead time by 75%.
Lisa Anderson, MBA, CSCP, CLTD, President of LMA Consulting Group Inc., warns of the growing risks facing supply chains due to potential logistics strikes in both the United States and Canada. As negotiations between the International Longshoremen's Association (ILA) and the U.S. Maritime Alliance (USMX) continue and the Canadian [...]
A forward-looking supply chain strategy report by Lisa Anderson, emphasizing the importance of innovation and future-proofing in supply chain management.
Download Lisa's mid-year special report, FutureScape: Crafting Tomorrow's Supply Chain Today.
The medical device market is expected to grow by almost $178 billion from 2023 to 2027 according to Technavio. Moreover, a Fortune Business Insights Analysis estimates the market to reach $799 billion by 2030. With such significant growth, manufacturing and supply chains must scale and mitigate risk to ensure supplies to customers and patients.
Modern ERP No Longer Enough Although we have been emphasizing the need for a modern ERP system to meet continually evolving customer expectations, modern ERP alone is no longer enough. To thrive in the next decade will require business AI (artificial intelligence) to be embedded throughout your ERP system, [...]