This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
In February, Klaus Niebur, the director of global supplychainriskmanagement at Autoliv, and Jan Thiessen, the managing director at targetP!, spoke on best practices on supplychainriskmanagement at ARC Advisory Group’s Digital Transformation in Industry conference.
The survey also found that 9 in 10 supplychain leaders are seeking 3PLs with a consulting offering that provides guidance in setting up their company’s supplychain. These are the top challenges that are driving increased interest in and demand for consulting and managed services. And they must plan accordingly.
by John Westerveld Reason #5: Not having a supplychainriskmanagement process. Over the years, working for and with numerous manufacturing companies, I’ve seen many supplychain practices that cost companies money. Supplychainriskmanagement is like insurance.
states, obvious disruptions to supplychains and supplychainriskmanagement were a given. Many of the states affected contained key ports and supply destinations, as well as transportation and logistics hubs. Don’t let your supplychain get blown away by any category of winds.
That’s when it all gets extremely complicated, but one thing remains crystal clear: supplychainriskmanagement is profoundly important for businesses to grow and expand. For example, Deloitte reported that 85 percent of global supplychains experienced at least one disruption caused by fraud or abuse in 2016.
Because of the pandemic, riskmanagement 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. The post If Multi-sourcing is a Best Practice, Why Are so Few Companies Doing It?
The company, heavily invested in Canadian manufacturing, faced a crisis because its raw materials were sourced from outside North America, disqualifying it from USMCA tariff exemptions. Establish inventory reserves in key markets to avoid supplychain disruptions.
Learn the best practices for supplychainriskmanagement in 2024 from Resilinc, the gold standard for supplychain resiliency. As riskmanagers audit their vendors and programs at the start of the year, it’s also time to clean up old strategies and supplychain practices.
Customer service, parts shortages, unprecedented inventory growth, and warrant management can actually take up internal sources and affect profit margins. Source: Vietnam Briefing. LogiSYM SupplyChain Magazine – December/January 2021. Ecommerce businesses are being overwhelmed by these concerns.
You have a supplychainriskmanagement strategy in place. 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. When you get to work, you get your team working on this issue.
In order to effectively managerisks in the current unstable global marketplaces, many suppliers have a thorough understanding of their own suppliers as well as supplychain bottlenecks that extend past the top tier of suppliers. Nari Viswanathan is Sr.
How is AI changing supplychainriskmanagement , and what does it mean for the future? These questions were part of a recent discussion featuring Exiger CEO Brandon Daniels about AI impacts on supplychains. Arjun Mehta: How is AI impacting supplychainriskmanagement?
When it comes to supplychainriskmanagement, however, vigilance is always required. The SupplyChain Quarterly reminds us, “Supplychain challenges aren’t over yet.”[1] SAP researchers said the move to a ‘just in case’ supplychain will lead to higher costs.”
Welcome to part three of our AI in SupplyChain blog series. In this blog, we explore the different types of predictive AI models for supplychainriskmanagement. In this blog, we explore the models used in Resilinc’s predictive AI and explain how they help streamline supplychainriskmanagement.
Supplychainriskmanagers 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.
Do you ever get confused when people use the terms supplychainriskmanagement (SCRM) and supplychain resilience? It’s common to hear industry practitioners, stakeholders, solution providers, and analysts use these terms interchangeably; for example, an SCRM program and a supplychain resilience program.
The post Efficient Financing Options Help Enhance Factory Standards in Emerging Markets appeared first on Logistics Viewpoints: A Blog for Logistics, SupplyChain, and 3PL Executives. Procurement/SourcingSupplyChain Planning SupplyChainRiskManagement financial supplychain GT Nexus IFC'
Herculean efforts by Procurement and SupplyChain departments to keep supplies flowing have prevented even more extreme disruptions than what we’ve experienced, but have inadvertently created additional risks. . Taking a category view often means little more than ensuring alternate sources are available.
For years, supplychains were engineered to be lean. Reducing cost was the primary objective, and most operational decisionsfrom sourcing to fulfillmentreflected that mindset. Recent years have brought a series of disruptions that exposed vulnerabilities in how supplychains are designed.
Even large corporations that might already have a riskmanagement strategy face a daunting challenge. When you think that a large corporation could be buying from maybe 1,000 suppliers and those suppliers are sourcing from [hundreds or thousands] of second and third tier suppliers, the risks are now phenomenal,” said Lavin.
Thirdly, all the COVID supply disruptions brought home the need for better supplychainriskmanagement. Riskmanagement had been a hard sale. Companies typically embrace improved supplychainriskmanagement after a disaster – after the horse had already fled the burning barn.
This venture’s success will be closely watched, not only for its implications for Amul but also as a source of inspiration for other Indian brands aspiring to foray into the international arena. The post Amul’s Optimized SupplyChain: Driving Global Growth in the Dairy Industry appeared first on Logistics Viewpoints.
Companies use riskmanagement software , like the Interos solution, to monitor and analyze supplier risk events in real time. Almost all supplychain software companies are talking about how they are incorporating generative AI into their solutions and how this could improve user interfaces.
Over the past two years, I’ve written extensively about the growing importance of supplychainriskmanagement and supplychain mapping. See for example: Rethinking SupplyChainRiskManagement. Doing Nothing on SupplyChainRiskManagement.
SupplyChainRiskManagement 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 supplychainriskmanagement solutions. SupplyChainRiskManagement Vendors.
For years I’ve been writing about the importance of supplychainriskmanagement and how it’s often given short shrift in business discussions. Today, ears are no longer deaf to the topic of supplychainriskmanagement. 3] Those dimensions are: 1. ” Homebound workforce.
In Part One of the series , Michael observed that standard sourcing solutions struggle in efforts to support direct materials sourcing because of specific challenges in the software design and why. Much of this has to do with needs for deep integration and two way flow of data streams.
What is supplychainriskmanagement? Supplychainriskmanagement is the process of identifying and managing issues within a supplychain. ordinated approach to implementing strategies to manage both daily challenges and unique risks.
Meanwhile, supplychainriskmanagement solutions can be used to monitor the financial health of upstream vendors so that alternative sources of supply can be secured promptly if key vendors are in trouble.
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 supplychainriskmanagement. But what are the characteristics of a resilient supplychain?
The supplychain landscape in 2024 was characterized by significant transformations and challenges, with resiliency as a key theme across all industries. To strengthen resiliency, companies invested in AI and machine learning, made strides to reduce dependency on single sourcing, and prioritized nearshoring and reshoring efforts.
Simply put, supplychain operations are under strain with pressures coming from multiple sources. Additionally, many organizations are also planning to source materials from suppliers in closer proximity and to hold greater inventory to assure short lead times and high inventory availability.
Learn the supplychainriskmanagement maturity model stages from Supplier RiskManagement to antifragility. The way that businesses talk about (and manage) supplychains is changing rapidly. Supplier RiskManagement What is Supplier RiskManagement (SRM)?
Enter the future of AI in supplychain. In this new multi-part blog series, we address the possibilities of supplychain AI and how new capabilities and machine learning algorithms are revolutionizing supplychainriskmanagement (SCRM). Stay tuned for part 2 of our AI blog series.
What if the next great supplychain disruption was…. 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.
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.”.
” There are, however, some well-known dragons supplychainriskmanagers will continue to encounter. ”[2] It’s not just supplychains that are realigning, columnist Ezra Klein insists the whole world is realigning. ” Reputational risk. ” Value at Risk.
This kind of disruption causes major dislocation in the sources of demand and shifts the centers of gravity for demand, forcing organizations to rethink their supplychain design. There are just three of the many more disruptive forces with knock-on effects across the global supplychains.
I asked Russ, “From your perspective, where do many companies fall short in terms of their ability to manage international transportation effectively?” Here’s what he said: It starts with sourcing. But are the challenges the same for large and small shippers? Watch the short clip below for Russ’ response.
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 supplychain through integration with data sources and interfaces that are available to your partners.
The quickly evolving landscape of supplychainriskmanagement (SCRM) requires organizations to develop strong programs that can anticipate and mitigate a variety of risks.
The challenge is becoming even more daunting as Kennametal moves into the developing world, its most promising source of new business. The company’s biggest pain point, he says, is managing assets. General News Inventory management Sales and operations planning (S&OP) SupplychainmanagementSupplychainriskmanagement'
By taking a proactive approach to supplychainriskmanagement, your business can protect itself from disruptions and maintain its competitive edge. Disruptions in transportation infrastructure and evolving consumer demands pose additional challenges that require proactive management.
However, as we learn more about how disruptions impact supplychains, it is time for companies and supplychainmanagers to reconsider the traditional view of black swan events. What are Black Swan Events in RiskManagement? with proactive strategies prioritized by value-at-risk.
We organize all of the trending information in your field so you don't have to. Join 102,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content