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NIS 2 Has Deep Impacts on the Supply Chain, Not Just Plant Operations The manufacturing industry is undergoing a significant transformation as it grapples with the implications of the Network and Information Systems Directive 2 (NIS 2). Manufacturers must now assess and bolster their cybersecurity measures to comply with the directive.
In February, Klaus Niebur, the director of global supply chain riskmanagement at Autoliv, and Jan Thiessen, the managing director at targetP!, spoke on best practices on supply chain riskmanagement at ARC Advisory Group’s Digital Transformation in Industry conference. The implementation was not trivial.
Supply Chain RiskManagement Solution from riskmethods. If I was asked to vote for the most interesting solution set that has come to the fore over the last few years, my vote would be for supply chain riskmanagement solutions. AGCO’s risk notification and visualization solution came from riskmethods. riskmethods.
Any discussion on supply chain riskmanagement and applying managed transportation to help prevent risks from coming to fruition is incomplete without touching on the pandemic to overcome supply chain disruption. Market Volatility Continues to Undermine Supply Chain RiskManagement.
Supply chain plays a crucial role for this Fortune 500 automotive manufacturer. With the onset of COVID-19 in 2020, along with demand and supply fluctuations in the subsequent years, many manufacturers, including this one, saw significant stress on their global supply chains. This case study covers: Customer challenges.
These are the top challenges that are driving increased interest in and demand for consulting and managed services. Market Volatility Continues to Undermine Supply Chain RiskManagement. Increased Throughput Generates a Need to Manage by Exception. Limited Granularity of Data Leads to a Lack of Actionability.
Spend Matters recently released their Spring 2025 SolutionMap for RiskManagement , and we’re pleased to share that Resilinc has maintained a strong position ahead of competitors in the Supply Chain RiskManagement module.
states, obvious disruptions to supply chains and supply chain riskmanagement were a given. This powerful feature lets a supplier or manufacturer see what would happen if the ports all closed, or the delivery mechanisms could not embark. The post Supply Chain RiskManagement: Could You Face a Category 4 Supply Chain Disaster?
Process-based companies continue to focus on manufacturing efficiency (OEE) and discrete on procurement (PPV) without designing the supply chain to balance transportation, manufacturing, and procurement to a balanced scorecard. Functional Metrics and the Lack of Alignment to Strategy. The Lovefest with Shiny Objects.
The manufacturing sector is facing unprecedented volatility in global trade, with tariffs becoming the latest in a series of uncertainty drivers that are impacting virtually all industries. Manufacturing plants are deeply entrenched; tied to infrastructure, suppliers, skilled labor, and regulatory requirements.
For instance, suppliers may have strong Vendor Management process expertise that will help reduce working capital. Or they may have expertise in manufacturing processes and have flexible capacity to allow contract manufacturing for new product introduction.
Yet, in a study that we just completed, when asked about business pain, supply chain risk rates low. Riskmanagement requires a focus on the important. When you talk to supply chain leaders about riskmanagement, their answers tend to be hard-wired for supply. It is new. Companies reward the urgent. New Insights.
This puts pressure on other device manufacturers to follow suit. Retrocausal : Develops AI-powered solutions for manufacturing, focusing on real-time error detection and process optimization to improve quality control and reduce operational costs. The companies on the Forbes AI 50 list have raised a total of $34.7 billion in funding.
In a keynote session at LogiCon24 , one of the speakers, Rachel Wilson, spoke in detail on tactics to supply chain cybersecurity risk mitigation. Here are 10 tips for avoiding and managing cyber-attacks. Patch & Update Devices: Software manufacturers are constantly discovering new flaws, bugs, and weaknesses in their code.
As a result of the intensifying battle, more and more companies announced plans or are considering shifting manufacturing from China. As the pandemic hits globally, manufacturing in Vietnam is experiencing continued and unprecedented growth relative to other low-cost countries. .” Vestring et al. Organizing a visit.
Third-party RiskManagement (TPRM) within Services organizations, especially Financial Services (FSI), has become critical over the last few years. Some of this is due to regulation but a lot is simply due to the increase in risk occurrences of varying types and the increasing complexity of third- party relationships.
Risk Mitigation AI enhances riskmanagement by identifying potential supply chain disruptions before they escalate. AI-driven supplier risk assessments monitor financial stability, historical performance, and geopolitical exposure, allowing for early intervention.
Risks in halal supply chains The halal integrity of a brand (and its products) is a function of its supply chain, where a breakage in halal integrity anywhere in a supply chain becomes a breakage of its halal integrity. On the other hand, halal risks in the entire supply chain are not on their radar screens.
Learn the best practices for supply chain riskmanagement in 2024 from Resilinc, the gold standard for supply chain resiliency. As riskmanagers audit their vendors and programs at the start of the year, it’s also time to clean up old strategies and supply chain practices. Out with the old and in with the new!
Manufacturers are facing massive shortages across their supply chains, which, along with as well as an utter failure to move swiftly to account for said shortages, has resulted in a market flooded with demand for an ever-dwindling supply. It is, in order words, a failure in supply chain riskmanagement.
Supply chain riskmanagers have a dilemma. Journalist Thor Benson reports that tuning out bad news might be good for their mental health; however, riskmanagers know tuning out bad news wouldn’t be good for business. Missed opportunities are another equal source of extraordinary risk.
Discover how Resilincs agentic supply chain riskmanagement is transforming disruption response with AI-powered supply chain risk solutions built for speed, scale, and compliance. Lets look at an example of how agentic supply chain riskmanagement works. Agentic AI flips that script.
How is AI changing supply chain riskmanagement , and what does it mean for the future? Arjun Mehta: How is AI impacting supply chain riskmanagement? But we boil everything down to risk scores so that you don’t have to be an accountant to know that there’s a financial health issue with a vendor.
From retail and food and beverage to manufacturing and life sciences, companies from a wide variety of industries are realizing the benefits of the technology, revolutionizing how they operate, collaborate, and generate value. Retailers are leveraging cloud-based platforms to optimize inventory management and enhance customer engagement.
In this blog, we explore the different types of predictive AI models for supply chain riskmanagement. Currently, Resilinc uses several predictive AI models in tracking purchase orders (POs) and commodities, autonomous mapping, risk-scoring models, and simulators. Welcome to part three of our AI in Supply Chain blog series.
… Aside from changing the physical elements of ports and infrastructure to protect against impending climate change, manufacturers can shift their own strategies to adapt. Instead, manufacturers need to scale back and look into other regional opportunities that can bolster production and selling power.”[7]
In a keynote session at LogiCon24 , one of the speakers, Rachel Wilson, spoke in detail on tactics to supply chain cyber security risk mitigation. Here are 10 tips for avoiding and managing cyber-attacks. Patch & Update Devices: Software manufacturers are constantly discovering new flaws, bugs, and weaknesses in their code.
Interestingly, in Q3 2023, 38% of manufacturers, distributors and retailers missed their target for revenue guidance for the quarter. … The truly biggest risks and threats — to the global economy, to businesses, and to supply chains — are the ones you’re unaware of and not accounting for in the first place. … My conclusion?
Do you ever get confused when people use the terms supply chain riskmanagement (SCRM) and supply chain resilience? Essentially, one views risk as a potential danger, the other perceives risk as an opportunity to grow and improve. Supply Chain RiskManagement (Half-Empty): Sees risk as a threat to be minimized.
Managing exceptional risks requires insights and visibility of key information – this gives you the ability to minimize the impact of these unexpected, yet huge disruptions. It is a necessary part of supply chain riskmanagement. Contingency plans and supply chain riskmanagement.
Today, I speak at the North American Manufacturing Association, Manufacturing Leadership Conference, in Nashville on the use of data to improve supply chain resilience. Interestingly, in Q3 2023, 38% of manufacturers, distributors and retailers missed their target for revenue guidance for the quarter. The result was restatement.
Robust supply plans can optimize across distribution, manufacturing, and logistics constraints and deliver an optimal plan that hits service objectives at the minimum cost. In general, to optimize across distribution, manufacturing, and logistics in an execution time frame, companies need to stitch together several solutions.
In the dynamic realm of the automotive industry, the importance of riskmanagement has reached new heights, compelling us to revisit and enhance our insights. Tier 1 suppliers, in particular, navigate heightened risks due to a lack of transparency and control over lower tier suppliers. Why Read Our RiskManagement White Paper?
The Manufacturing Supply Chain Journey through AI and Automation Manufacturing Supply Chains Explained The manufacturing supply chain comprises all the processes a business uses to turn raw materials and components into final products that are ready to be sold to customers, whether these are consumers or other businesses.
Explore the latest updates to Resilinc’s supply chain riskmanagement solutions, including Collaboration Center 2.0, At Resilinc, we constantly innovate our supply chain riskmanagement solutions to meet our customers’ evolving needs—it’s part of why we’re The Gold Standard for Supply Chain Resilience.
When a critical Tier-2 supplier is affected by a tariff policy change or regional shutdown, the ripple effects often catch manufacturers by surprise. Second, many supply chains still lack visibility beyond Tier-1 suppliers. Finally, rigid fulfillment networks compound the problem.
Manufacturers are not aware of this capability, and as a result, are not asking for it. Biggest Threat to Innovation is Groupthink I grow weary of supply-centric thinking and traditional riskmanagement approaches. Forecastability, Volume and Customer Service for a Manufacturing Company. Of course, the answer is correct.
The current taxonomy (or frame/models) for the engines does not address the issues of the global multinational manufacturing company. In the Global Supply Chain, there are More Constraints To Address Than Just Manufacturing. A manufacturing company’s safety stock is 30-40% of the total inventory requirement. The reason?
” There are, however, some well-known dragons supply chain riskmanagers will continue to encounter. The CNW Group reports, “Three quarters of businesses worldwide are overhauling their supply chains by working with more rather than fewer suppliers to mitigate risks in an increasingly fragmented global environment.
Manufacturing Sectors Client Alert Foreign adversaries are increasingly threatening vital domestic industries through current and potential future restrictions on critical mineral exports. Background Nickel and titanium are critical to the aerospace manufacturing sector. contractors in the aerospace manufacturing sector.
Supply side shifts: Example: A global coffee manufacturer experiences disruptions due to a natural disaster affecting one of its key suppliers in Brazil due to dry weather. By implementing an adaptive supply chain solution, the manufacturer gains real-time visibility into supplier forecasts, capacity, and delivery schedules.
How AI is Transforming Manufacturing: Strategies, Benefits, and Use Cases Artificial Intelligence (AI) is a huge topic and one that is constantly changing as research and development efforts push out the boundaries of whats possibleand whats already happening! Manufacturers now generate and own vast volumes of it.
Supply chain efficiency is the cornerstone of success and involves the effective management of processes, resources, and technologies from procurement to production, transportation to warehousing. In the automotive sector, manufacturers are simultaneously reducing inventory costs and delivery times.
One of my insights from doing the industry analysis for the Supply Chains to Admire each year is that smaller and less well-known companies outperform larger and better-known manufacturers. The analysis is biased toward large process-based manufacturers in the Gartner network. A Focus On Risk. Is this success? Learning Stalled.
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