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. Many of the states affected contained key ports and supply destinations, as well as transportation and logistics hubs. The post Supply Chain Risk Management: Could You Face a Category 4 Supply Chain Disaster? Supply chain risk management

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.

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If Multi-sourcing is a Best Practice, Why Are so Few Companies Doing It?

Logistics Viewpoints

Because of the pandemic, risk management surrounding sourcing has become top of mind. Companies need to ensure they have alternate sources of supply that can ramp up to the volumes needed. This best practice urges companies to examine not just the cost of the sourced products, but also to understand the risks associated with not multi-sourcing key components. The post If Multi-sourcing is a Best Practice, Why Are so Few Companies Doing It?

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.

Supply Chain Risk Management: Visibility is the Key

Talking Logistics

I like to say that supply chain management is synonymous with risk management, and the risks are growing every day, everything from natural disasters to cyberattacks. Unfortunately, many companies are falling short in managing these risks effectively. I think it’s in failing to have a supply chain risk strategy,” said Phil Lavin, Development Consultant IT at Siemens Postal Parcel & Airport Logistics, in a recent episode of Talking Logistics.

Supply Chain Risk Management – 5 Approaches to Safeguard your Supply Chain

ThroughPut

What is Supply Chain Risk Management? Supply Chain Risk Management (SCRM) is defined as the process of taking those strategic steps which can help manufacturers identify, analyze, assess, and finally mitigate the risk in the end-to-end supply chain.

Risk Management: Is 2018 the Year of Living Dangerously?

Enterra Insights

Globalism has been a boon to the supply chain by expanding sourcing, opening new markets, accelerating growth and highlighting opportunities to save money. 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. ”[2] Those risks are: 1. Risks to supply-chain processes.

Global Risk Management: Balancing Prevention and Response

CH Robinson Transportfolio

Global Risk Management: Balancing Prevention and Response. Finding the right balance between risk, prevention and response will keep your supply chain running smoothly and help it recover as quickly as possible when the unavoidable happens. When developing your risk management strategy, you should consider five key areas for maximum protection. An understanding of global issues and potential risks is critical to being prepared for the unexpected issues.

Getting Through the COVID-19 Crisis: Advice for Supply Chain and Logistics Professionals

Talking Logistics

Back in December, when we were making supply chain and logistics predictions for 2020, none of us envisioned the situation the world finds itself in today due to the COVID-19 pandemic. When it’s all said and done, there will be many lessons learned, but the question right now is: How can supply chain and logistics. Read more Getting Through the COVID-19 Crisis: Advice for Supply Chain and Logistics Professionals.

Supply Chain Risk Management: How SaaS-Based, Collaborative Platforms Provide Business Continuity

Turvo

Global supply chain risk management continues to evolve and embodies a consideration of possibilities and outcomes by supply chain executives totaling in the millions. Unfortunately, supply chain risks are inevitable as we’ve experienced with pandemics, weather-related disasters, corporate fallout, economic instability, and international trade regulations. That’s where the crossroads of a tech-driven approach to solving the challenges of supply chain risk management lie.

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. From sources to manufacturers to clients, supply chain visibility aids brands to respond effectively to critical events and other complications. Source Achieving full visibility – Is it possible? If there is a particular catchword that continuously describes supply chain management, it is visibility.

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.

SCRC Meeting April 27-28 on Supply Chain Risk: Building a Risk Management Capability

Supply Chain View from the Field

The theme of the general meeting will focus on a topic of great interest to supply chain professionals at every level of the organization: “ Creating a Supply Chain Risk Management Capability.”. Planning and forecasting in an increasingly complex and volatile global environment presents many management challenges, as supply chains are exposed to an many sources of disruptions and resulting financial impacts. NC State Deloitte Professor of Enterprise Risk Management.

Second Thoughts on Second Sourcing

Supply Chain @ MIT

Featured Resilience Logistics clusters MIT CTL rapid recovery from disruptions supplier strategies supply chain risk management Yossi SheffiNot keeping all of your eggs in one supply basket is an appealing strategy to increase supply chain resilience. But it’s not always effective. Aero engine maker Pratt & Whitney has doubled up suppliers in an effort to avoid interruptions to the production of its new turbofan engine. But according to a recent Wall Street […].

Strategic sourcing enters a new age. Are you keeping up? (Part 2)

ivalua

In last week’s blog , I began discussing telltale signs that you have entered the new age of strategic sourcing. Leading manufacturers have proven that best-in-class strategic sourcing can create measurable and sustainable shareholder value by contributing to top line growth and bottom line profitability. You Have Imbedded a Cost Management Mindset into Every Supplier Relationship. Improving costs remains a core competency for any sourcing organization.

Made in “I Really Don’t Know”

Talking Logistics

As reported in USA Today : [In a sourcing practice nicknamed “China plus one”], big brands like Rip Curl send their specifications — what they want made and how much they’re willing to pay for it — to sourcing agents, who find factories that agree to fulfill them. Putting a dollar figure on poor supply chain visibility, and how the costs break down, not only helps you gain upper management support to take corrective actions, but also helps you to prioritize those actions.

Efficient Financing Options Help Enhance Factory Standards in Emerging Markets

Logistics Viewpoints

Traditionally, the focus of supply chain management is on the movement of finished goods and raw materials across the value chain. The post Efficient Financing Options Help Enhance Factory Standards in Emerging Markets appeared first on Logistics Viewpoints: A Blog for Logistics, Supply Chain, and 3PL Executives. Procurement/Sourcing Supply Chain Planning Supply Chain Risk Management financial supply chain GT Nexus IFC

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6 Supply Chain Disciplines to Enable Profitable Growth

Talking Logistics

How can supply chain management enable profitable growth? Getting to the answer requires retailers to take a broader, more strategic perspective of supply chain management, one that goes beyond defining supply chain excellence only in terms of cost reduction and control. More than ever before, excellence in supply chain management – especially in logistics functions – is about driving revenue growth, capturing market share, and enhancing customer satisfaction and loyalty.

Creating a Resilient Supply Chain

Logistics Viewpoints

Today we recognize that the supply chain is a source of strategic advantage. The post Creating a Resilient Supply Chain appeared first on Logistics Viewpoints. Logistics Trends Supply Chain Risk Management resilient supply chainIn our quest to drive scale and reduce costs, we have architected supply chains spanning the globe. However, as these supply chains become increasingly globalized, they are also more vulnerable to disruption.

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Guide For Supply Chain Risk Management - How to Identify, Validate, and Assess

EFT

Insurance companies talk about supply chain risk in terms of assets. Others talk about sources for particular products. These diverse interpretations make identify risks more challenging. Surprisingly, many supply chain risk discussions exclude the actual supply chain. They do not recognize logistics infrastructure, logistics service providers, and how products move through supply chains. As a result, they overlook risks. Logistics infrastructure.

This Week in Logistics News (January 4-8, 2016)

Talking Logistics

In the meantime, here’s the supply chain and logistics news that caught my attention this week: EU Approves FedEx Acquisition of TNT Express ( WSJ – sub. INTTRA Collaborates with JDA Software for Streamlined Transportation Management. LoJack SCI and TransVoyant Partner to Deliver Supply Chain Risk Alerting. Transervice Announces Launch of Tech-Based Freight Management Company. Note: GT Nexus and JDA Software are Talking Logistics sponsors.

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This Week in Logistics News (April 1-5, 2019)

Talking Logistics

Moving on to this week’s supply chain and logistics news… Truckers gridlocked at U.S.-Mexico Robinson (a Talking Logistics sponsor), shared some good advice in a blog post this week. Speaking of supply chain risk management, Transplace (a Talking Logistics sponsor) announced this week a partnership with Riskpulse “to enhance real-time, predictive risk analytics capabilities.” “I’m worst at what I do best.”.

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When You Focus on Getting the Best Deal Insead of Developing the Best Relationship

Talking Logistics

And how can General Motors let this relationship with a single-sourced, critical parts supplier deteriorate and fail? Probably for the same reason so many 800-lb gorillas get themselves into this situation: instead of taking a Vested approach to supplier relationship management , they remained a penny wise and pound foolish. Coincidently, Yossi Sheffi at MIT published a post on LinkedIn yesterday titled Second Thoughts on Second Sourcing that relates to the GM situation.

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.

The Parallel Supply Chain … A Twilight Zone Strategy?

Supply Chain Game Changer

Every source of materials and components, every manufacturing facility, every warehouse and distribution channel, and every logistics mechanism is duplicated. To establish, manage and maintain a Supply Chain takes a lot of resource. Risk Management Supply Chain Management

Supply Chain and Logistics Predictions for 2016

Talking Logistics

Google did not acquire a third-party logistics (3PL) company or a logistics software vendor. Making supply chain and logistics predictions is like throwing darts at a moving target. How will transportation, inventory, and sourcing policy decisions change in light of this cheap oil environment? In short, the increased threat of terrorism underscores the importance of taking a smarter approach to supply chain risk management , which was one of my predictions for 2014.

GM Supplier Factory Explosion: Thoughts on Supply Chain Visibility and Responsibility

Talking Logistics

In a statement on Sunday, GM was quick to note that it did not have a direct relationship with Zhongrong , which it described as a Tier 2 supplier, and added that Tier-1 suppliers such as Dicastal are “required to source from Tier-2 suppliers who must meet both in-country environment and safety standards as well as quality standards.”. This past Saturday, an explosion at the Kunshan Zhongrong Metal Products factory in China killed at least 75 workers and injured at least 185 others.

COVID-19 Lesson: Make Your Supply Chain More Resilient

Logistics Bureau

Until the Coronavirus began wreaking its havoc, global companies could run their supply chains on the assumption that disruptions would be rare and short-lived, and that products should be sourced, produced, and distributed at the cheapest locations to be found, wherever in the world that may be. The pandemic, however, has exposed the risk, like never before, of concentrating sources in one location—especially when it’s far away from a company’s headquarters and markets.

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International Transportation: Where Many Companies Fall Short

Talking Logistics

When it comes to managing global supply chains, international transportation is where the rubber meets the road. But as many companies quickly find out, managing international transportation is very different from managing domestic transportation. I discussed the risks and complexities of international transportation in a recent episode of Talking Logistics with Russ Romine, VP of Global Transportation Services at LEGACY Supply Chain Services (a Talking Logistics sponsor).

Supply Chain Priorities for the Pandemic’s Second Wave!

Supply Chain Game Changer

Logistics and transportation were limited to movement of essential goods only. There were calls to domestically source materials, or to establish Parallel Supply Chains. We also run the risk of becoming complacent over time. Subscribe Here! Email Address.

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3PLs, What’s More Valuable Than Another Twitter Follower?

Talking Logistics

I have long argued that third party logistics providers (3PLs) should set themselves apart from the competition by fully harnessing the power and value of their customer and employee communities (see “ If Operational Excellence is a Given, Then What Else Matters for 3PLs? ” Robinson is a Talking Logistics sponsor). Supply Chain Risk Management Challenges Companies Face (Source: Adelante SCM). Source: Adelante SCM web survey, 2011.

The Next Great Disruption Coming to Supply Chains

Kinaxis

3PL’s, Contract Manufacturing, Suppliers, Logistics providers…. Consumers used multiple devices, internet of things, etc, to check FGI (finished goods inventory) /sub-assembly and raw inventories, build plans, and sourcing options, as they are considering a purchase! They want to assure the sourcing meets their “sustainable” expectations. by CJ Wehlage What would you say is the next great disruption coming to our supply chain world?

From Hurricanes to Overthrown Governments to Potholes: Transportation and Supply Chain Resilience

Talking Logistics

As mentioned before, the transportation managed by your team is a link within a much larger supply chain comprised of your business partners. At the heart of these strategies is a transportation management system that allows you to employ and maintain the mechanisms of resilience. A TMS enables the collection of data from your supply chain through integration with data sources and interfaces that are available to your partners.

Hanjin Bankruptcy: A Ripple Effect from Shipping into the Supply Chain

Resilinc

Just over a month ago, Hanjin Shipping Co, the world’s 7 th largest shipping and Logistics Company in the world, filed for receivership on August 31, 2016. bankruptcy caused a major impact not just to logistics and shipping, but to the underpinning global supply chain and its sourcing operations. Hanjin Shipping Co. It has left nearly 80 ships with almost 500,000 containers offshore, with goods worth over $14 billion marooned at sea.

Japan and Ecuador Earthquakes: Supply Chain Lessons from Past Disasters

Talking Logistics

Sourcing critical parts from multiple suppliers, manufactured in multiple factories, located in multiple geographic regions; Using widely-available, standard components instead of proprietary, custom-built parts; Keeping excess manufacturing capacity in their factories; Designing and equipping their factories to build a wide portfolio of products; Implementing redundant IT systems and data centers; Using multiple modes of transportation, and working with multiple logistics partners.