A recent survey showed that the COVID-19 pandemic negatively affected 48% of respondents’ supply chains. 44% reported extended order fulfillment times and increased supplier prices. 25% reported bankruptcy of suppliers.
In 2020, air freight costs from China to the US increased 81%. A 2021 winter storm in Texas stopped 80% of chemical production affecting the majority of the US’ supply of plastic polymers. The blockage of the Suez Canal delayed the movement of $400 million of trade goods every hour.
More than 40% of business leaders admitted they would not be able to understand the potential impact of a disruption event on their supply chain.
Does this sound familiar? Of course. These are just some of the headlines from recent disruption around the world. However, we know that for manufacturers, it’s more than just headlines that matter for your business. That’s why we hosted our thought stream event, QAD Tomorrow, to dive deeper behind the headlines. On May 19, we were joined by global manufacturers for QAD Tomorrow, focusing on the timely topics of improving supply chains and supplier relationships.
Tomorrow Overview
Here’s what Tomorrow explored:
- QAD customers, INEOS Automotive and ANCA, shared recent challenges in strategic sourcing, managing supplier relationships and navigating disruptions in complex, global supply chains.
- Industry experts highlighted some supply chain challenges that manufacturers are facing, across industries, and the best practices for overcoming them in the areas of supply chain planning, transportation management, quality, sourcing and supplier management.
- We shared a complimentary diagnostic assessment designed to help manufacturers measure the state of their current supplier relationships and identify ways to quickly optimize supply chains.
We encourage you to view a recording of the thought stream now.
What’s Next?
Our thought stream was only the beginning of assessing supply chains and supplier relationships. As a next step, we’re offering complimentary access to the Integrated Supplier Management diagnostic assessment.
Answer 12 quick questions about your strategic, tactical and operational supply chain planning and execution and receive a customized report that can help you identify quick wins and lead your organization to master the balance between supply chain efficiency, agility, risk and resilience — without tradeoffs.
