Supply chains have come under stress in recent years, thanks to unexpected developments such as the COVID-19 pandemic, the war in Ukraine, and elevated inflation. Climate issues continue to challenge supply chains, as do other unforeseen events. Leading companies understand that creating resilient supply chains capable of adapting to risks makes the difference between surviving and thriving.
Getting there requires planning, data, collaboration, technology, and a sustainability mindset. Building resilient and sustainable supply chains is emerging as an important element in corporate risk mitigation strategy. Putting real-time and accurate data — from all nodes and tiers of the supply chain— into the hands of supply chain practitioners provides the visibility required to make timely and intelligent decisions. Evaluating and analyzing the right data enables companies to predict outcomes and simulate responses and strategies and to develop alternative plans that mitigate risk, address supply chain issues quickly and with flexibility and agility, and adjust planning and manufacturing processes to better serve customers. Collaboration involves breaking down silos, internally and across company boundaries, by sharing data with contract manufacturers and suppliers, enabling end-to-end business processes and improving the ability to make decisions.
Artificial intelligence and machine learning automate and streamline processes and drive role-based decision support tools that improve worker experiences and effectiveness. Real time information on product and equipment performance allows companies to drive innovative business models, resulting in better products and higher levels of customer service. A commitment to sustainability helps create a loyal and satisfied customer base and the sort of resiliency that can endure any challenge. Is your organization ready to become a supply chain resiliency leader? Read on to find more on how to do it, and what benefits you can expect!
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