Remove Data Remove Shipping Remove Sourcing Remove Thailand
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The Dangers of Single Sourcing in Your Supply Chain

Resilinc

Avoid the pitfalls of single sourcing and learn strategies to build a more resilient supply chain. Yet, within the pursuit of efficiency lies a lurking peril: single sourcing. The pandemic was a wake-up call to the dangers of single sourcing. What is single sourcing and sole sourcing?

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What is Supply Chain Resiliency?

Logistics Viewpoints

Supply chain disruption has many sources: tariffs and trade disputes, natural disasters, pandemics, economic uncertainty and cybersecurity attacks. There won’t be a new normal, just new sources of disruption, from weather to government policies to industry conditions. The average cost of a data breach reached $3.86

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Innovative Approaches to Supply Chain Risk

Kinaxis

This key supplier had been identified and sure enough, you have a second source primed and ready to go. We have a problem.” The alternate source uses the same supplier in Taiwan. This scenario played out for thousands of companies after the Japan earthquake, the Thailand floods and numerous other smaller scale disasters.

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Global Wide Manufacturing Output Strengthens in March 2024

Supply Chain Matters

along with Vietnam, Thailand and Indonesia. New order growth reportedly accelerated at the fastest in nearly three plus year, which is a likely indication that this region has become the new go-to for China Plus product sourcing strategies. Growth expansion has returned across China and the U.S. reflecting a 1.3 an increase of 2.5

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Cutting Emissions Through Better Transportation Planning

Logistics Viewpoints

Transportation is, of course, a major source of green house emissions. For example, if they buy a component for their hardware products in Thailand, they have an estimate for the logistics emissions associated with the component. That is more than any other sector. We don’t want perfection to be the enemy of the good.

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Podcast: Rob O’Byrne on Digital Transformation, Sustainability, and Diversification in Sourcing

Requis

Sourcing has probably been the biggest thing over the last decade or two, coupled with that reduction in local manufacturing of course. Sourcing is now predominantly overseas: China is one of the big sourcing countries of course, along with India, Pakistan and Bangladesh, Vietnam and Thailand. That’s been a massive trend.

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Global Production Levels Falling At the End of 2023

Supply Chain Matters

However, the data indicates that spending is clearly being influenced by product promotions and discounting. Commenting on the 2023 data and the outlook for the EU manufacturing sector in 2024, Dr. Cyrus de la Rubia, Chief Economist at Hamburg Commercial Bank , indicated in-part: “ The destocking process is showing no signs of letting up.