Supply chain risk management in 2017

Kinaxis

Interestingly enough, the first episode of Breaking Bad that aired in 2008 reflected what it was like being in supply chain risk management at the time: “Hey, a science teacher is cooking meth, how much worse could it get?”. Maybe the one good thing to come out of it was some companies figured out how they could survive with lower inventories. Inventories were stranded as supply chains scrambled to understand the impact on their customers. Supply chain risk managemen

Be Prepared: Improving Supplier Risk Management In Your Business

ivalua

Supply chain management and procurement sit poised on the frontlines of managing global supply risks for their brands. That’s why companies are always looking for new ways to streamline and increase efficiencies while also mitigating the risk within their supply chain. From inventory management to customer shipping, leave nothing to chance when it comes to supply chain risks. Understanding Supplier Risk Management.

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Supply Chain Risk Management: Could You Face a Category 4 Supply Chain Disaster?

Kinaxis

states, obvious disruptions to supply chains and supply chain risk management were a given. This involved in some cases, diverting some inventory bound for other regions. Up to date inventory status. The post Supply Chain Risk Management: Could You Face a Category 4 Supply Chain Disaster? Supply chain risk management

Coronavirus Increases Supply Chain Risk Management Priority

Enterra Insights

For years I’ve been writing about the importance of supply chain risk management and how it’s often given short shrift in business discussions. Multi-dimensional risk planning. Today, ears are no longer deaf to the topic of supply chain risk management. ” He recommends supply chain managers take the following three steps: “First and foremost, take care of your people, including employees and customers. Risk management.

Your supply chain is costing you money – Reason #5 Not having a supply chain risk management process

Kinaxis

by John Westerveld Reason #5: Not having a supply chain risk management process. Insurance is a form of risk mitigation. Yet, a surprising number of companies (while they have traditional insurance) do not have a supply chain risk management “insurance” aka a supply chain risk management process. The insurance covers what could be a million dollar risk, supply chain risk management protects against what could be a MULTI-BILLION dollar risk.

Equipping Your Supply Chain Risk Management Kit

Enterra Insights

You might find then find it surprising that a recent survey, conducted by Verdantix, found more than half of the company representatives who responded indicated “they still use a mix of spreadsheets and paper” as part of their supply chain risk management process.[1] ” It is fair to say that companies using pre-digital age risk management processes may not be taking risk management seriously enough. Digital age risk management tools.

Time to Survive and Nexus Supplier Index: New Measures of Supply Chain Risk Management

Talking Logistics

Over the past two years, I’ve written extensively about the growing importance of supply chain risk management and supply chain mapping. See for example: Rethinking Supply Chain Risk Management. Doing Nothing on Supply Chain Risk Management. Many Companies Falling Short on Supply Chain Risk Management. In addition, new software applications are also emerging to help companies manage this process.

Supply Chain Risk Management is a Cirque Du Soleil Calibre Act!

Supply Chain Game Changer

In thinking about the show and its construct I thought about the incredible amount of risk that the performers and producers are managing. These world class performers have astonishing talent but they are also working in an environment designed to eliminate risk and maximize safety. Supply Chain Professionals, although not usually theatrical, also work in an environment in which they are managing a tremendous amount of risk. Supply Chain Risk Management.

Risk Management: Is 2018 the Year of Living Dangerously?

Enterra Insights

It has also always had issues: supply chain complexity; global competition; information collection challenges; and greater risk from global events including natural disasters, port closures and anti-global sentiment. ” Taken as a whole, the issues raised by Monahan and Gott are enough to keep any risk manager awake through the night. ”[2] Those risks are: 1. As we step into 2018, enterprises must realize the risks associated with their IoT ecosystem.”

Supply Chain: The True Game of Risk

Supply Chain Shaman

One of my favorites was the board game Risk. ” The rules have changed, and the risk increased. Designing value networks and managing what-if conditions is fundamental to managing supply chain risks. The move from global to regional supply chains increased risks. This increases risk. Historically, the risk management focus was to reduce insurance costs. What is Risk Management? Not All Risks can Be Prevented.

Visibility is the Key to Supply Chain Risk Management

Abivin

In term of risk management, visibility is essential to enable both the business and supply chain to become more agile, competitive, and robust. If there is a particular catchword that continuously describes supply chain management, it is visibility. Visibility is not merely knowing where your inventory is at any point in time. Visibility starts from your inventory. When orders are created for delivery, holding inventory is affected.

Ground-Level Views of Risk Management

Supply Chain @ MIT

But a key feature of effective response efforts that emerged during a recent gathering of supply chain risk experts organized by MIT CTL is aligning the company’s reaction to the scale of the disruption. The command center was activated within 24 hours of the incident, and the company’s supply chain team worked to identify which parts were affected, how much inventory was on hand, and what spot buys were necessary to plug gaps in supply.

Keep Your Cargo Out of Danger: Best Practices for Transportation Risk Management

CH Robinson Transportfolio

With the main focus on maximizing time and cost efficiencies, cargo risk management is often skipped over despite being a critical step in protecting your company. . Due to the global outbreak of the coronavirus, many global shippers are recognizing the value in a risk management plan to best prepare themselves for the current situation and others like it in the future. The risk of delays and lost cargo are real. What risk does your cargo face?

Innovative Approaches to Supply Chain Risk

Kinaxis

You have a supply chain risk management strategy in place. Many companies have accepted the need for Supply Chain Risk Management because they understand that just such a scenario could occur and if they are ready for it but their competitors are not, they have an opportunity to gain market share. The problem is most companies are relatively immature when it comes to Supply Chain Risk Management. What supply chain risk mitigation processes are you using?

How Can You Seize Opportunity If You Cannot Manage Risk?

Supply Chain Shaman

Public markets reward growth; and as year-over-year revenues slow, companies attempt to grow using tactics like new product launch, price incentives and trade promotion management. When it comes to risk, this impact is not trivial. Energizer and Unilever are driving the fastest rates of improvement and Clorox and P&G improvement rates are the slowest on the Metrics That Matter of Growth, Operating Margin, Inventory Turns, and Return on Invested Capital (ROIC)).

Help Supply Chain Planners Be More Successful In These Uncertain Times

Supply Chain Shaman

I settled on a title on helping the supply chain planner to be more successful in completing work during this cycle of risk management, but the advice is designed to make organizations more successful with planning over the long-run. Supply chain management, as a cross-functional process, to align source, make and deliver processes, evolved in 1982. The first supply chain management academic programs began in the 1990s. As I flew to Dallas, I worked on this post.

Do your supply chain challenges have you feeling a little snowed under?

Kinaxis

This is an extreme example of how minor inefficiencies in your supply chain plan (in this case, inventory waiting outdoors for just a few days) can snowball into much larger problems. With that in mind, are you prepared to respond to the risk in your supply chain? General News Inventory management Miscellanea Supply chain management Supply chain risk management Inventory Order Fulfillment Risk management Supply chain

Rising Above Supply Chain Disruptions

DELMIA Quintiq

When a massive disruption such as a global pandemic hits, many businesses realize that their legacy planning solutions are not capable of providing the insights they need to manage such disruptions effectively. Typically, companies face two kinds of risks: Everyday risks and exceptional risks. Everyday risks are relatively easy to identify and manage. It is a necessary part of supply chain risk management.

Florence Et Al.

Supply Chain Shaman

Plot Your Supply Chain Risk. It is now closed at the start of a busy shipping season as companies prepare for holiday inventory builds. There are also the non-obvious risks Inland rivers are swollen. While most think of risk management as a set of supply side impacts, the issues of sensing and translating demand are even greater as risk for most companies. Risk Management Issues. This morning the Washington Post rang.

Improving inventory management

EFT

What’s more plenty on the retail side have found themselves with held inventory but it suddenly locked away in stores that people could no longer frequent, browse and shop from. In his opinion the way you do that is “By putting inventory close to customers.

Coronavirus Creates Opportunity for Healthy Supply Chain Correction

Talking Logistics

Guest Commentary Guest Commentary - Transportation Insight Supply Chain Risk Management coronavirus COVID-19 inventory management Transportation InsightEvery day, the COVID-19 situation continues to evolve. Thousands of lives worldwide have been disrupted, and there’s no way to measure the human toll. Alongside that is the incredibly difficult task of measuring supply chain effects throughout the rest of the year.

Supply Chain Planning-A Lesson from Covid-19

Adexa

Being Predictive does not imply telling the future but it does mean mitigating risk by smarter planning. Remember the “ revolutionary ” concepts of Just-In-Time and Zero Inventory. It is not (inventory) cost vs. service level, it is about the right mix of both capacity and material to keep in the entire supply chain. For more information about these techniques go to Adexa/Risk.

CSR Is A Core Component of Supply Chain Risk Management In Procurement

EcoVadis

Now more than ever, risk management is a vital part of the procurement function, and hence the CPO’s responsibilities. What are the potential costs of failure for your company when it comes to supply chain risks? According to the 2013 Sustainable Procurement barometer developed by HEC/Ecovadis, risk management remains a critical driver with 80% of companies implementing a “Code of Conduct” and 58% focusing only on high risk suppliers.

Your supply chain is costing you money – Reason #6 Not effectively managing inventory.

Kinaxis

Reason #5 Not having a supply chain risk management process. Reason #6 Not effectively managing inventory. Unfortunately, all the same kinds of things can happen to your supply chain inventory. Except that your inventory costs millions of dollars. Those of you that manage inventories know how hard it can be to get the quantities just right. If you maintain too little inventory, you have stockouts, line stoppages and unhappy customers.

Supply chain risks: The knowable unknowns that can hurt your supply chain!

Kinaxis

This has led to increased costs, not to mention all the inventory stuck in-transit. If the supplier performance degrades gradually and on average the supplier is now taking 10 days to deliver, you get into a constant firefighting mode with inventories running low, regardless of how good your planning algorithms are. Often times, someone in the procurement organization is aware of change in lead times through supplier monitoring/scorecarding, supply chain risk management and such.

Four Ways to Optimize Inventory

The Smart Software

Inventory optimization has become an even higher priority in recent months for many of our customers. The post Four Ways to Optimize Inventory appeared first on Smart Software. Blog Inventory Optimization inventory optimization inventory optimization software inventory risk management service levelSome are finding their products in vastly greater demand; more have the opposite problem.

Predictive Inventory Management: Fulfilling Orders Even When Your Shipment is Late

Enterra Insights

The post Predictive Inventory Management: Fulfilling Orders Even When Your Shipment is Late appeared first on Enterra Solutions. Artificial Intelligence Best Practices Business Risk Management Supply Chain TechnologyNo manufacturer wants to suffer decreased profit margins as a result of shipping delays that can result in product time-to-market … Continued.

Adexa’s Response and Solutions to Covid-19 Supply Chain Crisis

Adexa

Uncertainty and lack of risk resiliency (preparedness) and visibility to various options have all contributed to the current crisis. Lack of accurate planning leads to risk of shortages, increased cost of operations, losing market share, lost revenue & profit and in some cases loss of life! A sudden spike in demand creating risk of availability for PPE in hospitals, medical personnel, hospital beds, respirators, and masks among others.

Wanted: Supply Chain Architects!

Supply Chain Shaman

When I moved into industry, and the real world, I managed engineering teams. Each project would usually have a cool name, and management exposure. I relished the sound of a manufacturing line when I opened the door of the factory in the morning, and I liked managing inputs so that we could maximize outputs. Manufacturing is the foundation of my interest in supply chain management. I knew nothing about the world of logistics, inventory management and order optimization.

Three Ways to Optimize Inventory

The Smart Software

Inventory optimization has become an even higher priority in recent months for many of our customers. The post Three Ways to Optimize Inventory appeared first on Smart Software. Blog Business Policy Inventory Optimization inventory optimization inventory optimization software inventory risk management service levelSome are finding their products in vastly greater demand; more have the opposite problem.

Could Supply Chain Management Have Saved the Fyre Festival?

CHAINalytics

The post Could Supply Chain Management Have Saved the Fyre Festival? Blog Demand Planning Intelligence Consortium Feature Integrated Demand & Supply Planning S&OP Supply Chain Design Supply Chain Operations capacity planning demand forecasting DPIC Inventory Optimization Project Management risk management Supply Chain Visibilityappeared first on Chainalytics.

Three Reasons to Give Advanced Track and Trace Capabilities a Fresh Look

Logistics Viewpoints

Inventory Management Reverse Logistics Supply Chain Risk Management Warehouse Management Systems The need for track and trace capabilities in industries such as food and beverage, manufacturing or automotive industries is obvious: the threat of contamination or recalls impacts public safety, and the responses to those events are highly regulated. Organizations need to know what goes into their products and their location at all times.

Does Your Supply Chain Self-Optimize?

Adexa

For example, what is the best level of safety inventory in different seasons and different regions based on past and future data ( future data comes from SCP model ). Enterprise Risk Management Risk Management Risk Planning Supply Chain Performance Management Supply Chain PlanningIn recent years AI and machine learning have had a major impact on how we run our businesses. They have also influenced the way we make decisions in supply chain planning.

The Parallel Supply Chain … A Twilight Zone Strategy?

Supply Chain Game Changer

If you truly have a duplicate Supply Chain in operation you do have a level of established redundancy which should lower your risk of supply disruption. To establish, manage and maintain a Supply Chain takes a lot of resource. Risk Management Supply Chain Management

4 Supply Chain Areas to Examine in the Face of Disruption

QAD

Increasingly, we see manufacturers placing less emphasis on cost savings and more importance on supply chain adaptability, risk management and speed. The following are four key areas that can help manufacturers mitigate supply chain risks and build adaptability for future shocks. . Additionally, customer relationships can be further strengthened by digitally collecting and sharing supply chain information, like inventory availability and shipment status.

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