We didn’t need Resilinc to tell us that the supply chain disruptions from the COVID-19 pandemic event were “severe.” However, it is noteworthy that Resilinc has never ranked an event at that level before. A record number of factory fires and extreme weather events have generated further disruptions. Many industrial manufacturers remain focused on ways to build a resilient supply chain.
Digitization of the supply chain accelerated during the pandemic as global manufacturers recognized the value of real-time data. The increased efficiency and transparency of digital supply chains benefit companies that can make that investment. However, the costs of digitization may not be feasible for many SME companies at this time.
Consolidations, mergers, and business sales also increased as companies sought cash to stabilize their business or optimize the supply chain and retain customers.
Here are eight non-digital strategies to protect your business from future supply disruptions.
I hope these tips will help you in your efforts to build a resilient supply chain. As a partner with industrial manufacturers, we’re available to consult with you directly. Contact us to set up a conversation.
Managing Partner, StratMg