Supply chain resilience has always been a major concern, but the COVID-19 pandemic has highlighted the importance of this problem. Therefore, many interruptions are affecting logistics organizations, ranging from port closures to workforce shortages.
This shamble is affecting every element of the supply chain, and board members are asking for additional solutions. The current manner of doing things cannot be maintained; new solutions must be implemented.
It is about rebuilding the supply chain’s lost resilience. Resilience implies that the business has the knowledge necessary to adapt quickly and efficiently to unexpected shortages, missing supplier deliveries, last-minute substitutes, quality failures, and the like.
Above all, companies with robust supply chains can overcome practically any disruption — including supplier shutdowns — and discover methods to gain from issues with thorough predictions and reliable information about part and component availability.
A general resilience analysis
For instance, any evaluation of supply chain data must have three requirements:
1 – Recognizing and acting on warning indicators that suppliers are in trouble.
2 – Understanding the repercussions of inaction.
3 – Determining the best way to reestablish lost resilience.
There is an unsaid reality regarding information in supply networks as well. If your data sources aren’t connected, your information will get imprisoned in silos and practically invisible – buried behind data trash. In other words, you need a centralized system that can arrange all of the data and produce accurate projections.
To clarify, resilience necessitates integration and visibility; without these two ideas, your logistical operation would remain in the dark. Moreover, to identify answers in a timely manner, you must first understand the difficulties you are dealing with. Can you achieve this with the technology at your disposal?
Certainly, all of this raises critical questions: How can we tell what data is missing from supply chain databases? How much do these deficits cost? How can you fix it? What must we do to be resilient in the face of adversity?
The solution is dependent on your company’s ambitions; each supply chain will have its own set of demands and aspirations. There are, however, tips that might assist everyone in dealing with these obstacles and prospering even in the face of such severe interruptions.
Finding the solution
The Grydd smart operating system is capable of bringing the end-to-end visibility, the integration, and the technological innovation you need to build a resilient supply chain. We bring all the solutions with one connection, to the palm of your hand. Leave the issues behind, and make a free demo with us.
Grydd – The power of one connection