Building the Business Case for Supply Chain Risk Management

Cerasis

Naturally, to take advantage of this opportunity, you will need a well-functioning supply chain, which you happen to have. But there are some risks. Do you think that your supply chain management is good enough for this market? That’s when it all gets extremely complicated, but one thing remains crystal clear: supply chain risk management is profoundly important for businesses to grow and expand. Supply Chain

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 southeast contains a bunch of key ports and supply chain links that were in peril as Matthew approached and eventually passed through them. The human links of the supply chain were stressed.

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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. Eric Kimberling ( @erickimberling ) an Enterprise Resource Planning expert, writes, “The coronavirus pandemic disrupted supply chains across the globe, and suddenly everyone is paying more attention to what was an overlooked subject just months ago. Multi-dimensional risk planning.

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. Do You Have a “Top 25″ Supply Chain? Why Supply Chain Mapping Matters. Many Companies Falling Short on Supply Chain Risk Management.

Supply Chain Risk Management and Rocket Science

Logility

I became very familiar with risk management early in my professional career. Supply chain professionals have to push the envelope on processes and procedures every day to gain incremental improvements in customer service, costs and efficiencies. As in the aerospace industry, pushing the supply chain envelope involves increased risks that need to be analyzed and mitigated, if possible, or at least planned for.

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. Over the years, working for and with numerous manufacturing companies, I’ve seen many supply chain practices that cost companies money. Reason #3 Not having end-to-end supply chain visibility. Reason #4 Your supply chain is costing you money – Reason #4 Making key decisions by modelling the supply chain in Excel.

Cognitive Computing for Supply Chain Risk Management

Elementum

Risk management is important in a company. A company cannot possibly define its goals for the future without first analyzing and identifying possible risks, challenges, or disasters it may encounter. By executing a risk management plan, a company can assess potential critical risk that needs to be prioritized before they could cause adverse impacts on their interests.

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. Many companies do not recognize the risks they’re facing mainly because things have only gone wrong in a small way, in a way that they could manage [quickly and easily] and it’s no big deal.

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. Problems managing payments and hitting supply chain finance goals.

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

Supply Chain Game Changer

Subscribe to Supply Chain Game Changer. Is Your Supply Chain Ready To Recover? 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. While most jobs are not life threatening the level of risk is still prevalent.

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?

Visibility is the Key to Supply Chain Risk Management

Abivin

Supply Chain Visibility – Why can’t it be ignored? It is no doubt that the supply chain is always growing to be more complex and expanding in organizational costs. Supply chain visibility is a requirement for keeping that complexity and cost under control. In term of risk management, visibility is essential to enable both the business and supply chain to become more agile, competitive, and robust.

Big Ideas in Supply Chain | Keysight Technologies: Risk recovery after a natural disaster

Kinaxis

by Sarah Harkins Imagine that three natural disasters hit your global supply chain within three years. Between 2015 and 2016, earthquakes in Japan and explosions at a container storage station in China affected parts of the company’s supply chain. The company had continuity and disaster recovery plans in place, and supply chain employees routinely ran drills to prepare for potential issues.

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AI + Data = Supply Chain Risk Management!

Supply Chain Game Changer

Subscribe to Supply Chain Game Changer. Cut to 2019, Deloitte published its newest CPO Survey where they found that 81% of chief procurement officers with fully implemented solutions in the space of Supply Chain Risk & Compliance Management aren’t satisfied with their solutions.

Supply Chain Risk Management: It’s Time to Update Your Contingency Plan

AFFLINK

In a lot of ways, a supply chain is almost like a living, breathing entity - something that negatively affects one area of the chain will absolutely create a ripple effect in other areas. For supply chains in particular, it means suppliers scrambling to find viable last minute routes. While this does present a challenge today, that risk isn't eliminated as soon as the storm itself is over - far from it. Prepare Questions and Sources.

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: 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. For the supply chain leader it is not a game… The stake is business continuity. Gamers do well in the world of supply chain. 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.

Innovative Approaches to Supply Chain Risk

Kinaxis

You have a supply chain risk management 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. The problem is most companies are relatively immature when it comes to Supply Chain Risk Management. There is a natural conflict between risk mitigation and supply chain efficiency.

Maintaining Brand Equity in Extended Supply Chains

Logistics Viewpoints

This article discusses new crowd sourcing apps that could allow brand owners a tool to better protect their reputation. Labor Procurement/Sourcing Retail Social Media Supply Chain Risk Management brand equity corporate responsibility extended supply chainsThere are as many ways to approach corporate social responsibility as there are companies.

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. Supply Chains.

Is Your Supply Base Employing Slaves?

Logistics Viewpoints

Multinational companies can have thousands of Tier 1 suppliers, and in the extended multi-tier supply chain it could be hundreds to thousands of upstream suppliers. How can companies insure that companies they source from are not engaged in slave labor? Procurement/Sourcing Regulations Supply Chain Risk Management Sustainability global sourcing slave labor social responsibility

7 Use Cases for Hyperledger in Supply Chain

Supply Chain Shaman

I think defining the future of Supply Chain technology means that we, as supply chain leaders, need to take a hard left. Today’s supply chains use closed and proprietary technologies. I believe we need to move to Open Source tech. There are dark holes in the supply chain which I believe will not be closed with the current approaches. The Hyperledger project is an Open Source blockchain platform. Supply Chain Finance.

Creating a Resilient Supply Chain

Logistics Viewpoints

Today we recognize that the supply chain is a source of strategic advantage. In 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. The post Creating a Resilient Supply Chain appeared first on Logistics Viewpoints. Logistics Trends Supply Chain Risk Management resilient supply chai

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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. Below is an excerpt from the section on Supply Chain Visibility. — Supply Chain Visibility.

Efficient Financing Options Help Enhance Factory Standards in Emerging Markets

Logistics Viewpoints

The financial supply chain needs more attention than it usually gets. 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.

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Non-Traditional Supply Chain Pt 1: Data as a Commodity

Kinaxis

by Alexa Cheater An interesting topic came up the other day at the office, the idea of non-traditional supply chain. Not non-traditional in the sense of a company that thinks and acts a little outside of what’s considered to be ‘normal’ supply chain operating processes. Rather, supply chains that don’t deal with material goods at all. Anyone who works in traditional supply chain knows data is king.

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Made in “I Really Don’t Know”

Talking Logistics

In this week’s Ripped from the Headlines segment, another example of how many companies still have poor visibility and control of their end-to-end supply chains. 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. Why Supply Chain Mapping Matters.

Webinar: Supply chain strategies to combat a brave new trade world

Kinaxis

And for organizations with even moderately complex multinational supply chains, the mounting challenges are the most significant that they’ve faced to date. A fresh set of supply chain strategies are need, the quicker the better. Combine this with an uncertain trade environment with unprecedented market volatility and the impact of ongoing legal, regulatory and taxation changes, and you have a perfect supply chain storm brewing.

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.

The Next Great Disruption Coming to Supply Chains

Kinaxis

by CJ Wehlage What would you say is the next great disruption coming to our supply chain world? However, there’s one great disruption already occurring, which has yet to truly “touch” supply chain. As a supply chain practitioner, do you notice something missing? Where is the supply chain nodes? Supply Chains have primarily stayed on the outside of this challenge. What if the next great supply chain disruption was….

El Niño May Have Your Supply Chain Partying Like It’s 1997

Kinaxis

With extreme weather—running the gamut from droughts to flooding rains—likely to occur across the globe this winter, we can expect to see the supply chain affected in several areas. El Niño may serve as the ultimate test of supply chain risk management and resiliency. Those companies that safeguard their supply chains by successfully planning for potentially catastrophic events will emerge with the least negative impact from El Niño.

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

Talking Logistics

When referring to supply chain resilience, the causes of disruption vary widely in scale and emphasize the unpredictability and severity of the events. We know transportation plays an important role in the supply chain – it’s the line in a flow diagram between the little buildings and smoke stacks – and transportation disruptions happen on a daily basis. Guest Commentary Guest Commentary - LeanLogistics Supply Chain Risk Management LeanLogistics resilienc

Good-bye siloed, functional planner. Hello storm chasing network planner.

Kinaxis

by Bill DuBois If you had anything to do with supply chain planning in the early days of enterprise resource planning (ERP), you may consider those years the “good ol’ days”. Supply chain planners (I’m lumping in all the silos, including demand, supply, inventory and capacity planning) today are dealing with challenges that were unimaginable when Lotus notes were the next big thing. However, none of this physically destroyed your supply chain.

The State of Sustainable Supply Chains

SCM Research

Supply chain management can play a key role to help creating a more sustainable world that leaves no one behind.

Japan and Ecuador Earthquakes: Supply Chain Lessons from Past Disasters

Talking Logistics

These earthquakes are also a reminder of how natural disasters can disrupt supply chains. Over the past few years, I’ve written extensively about the growing importance of supply chain risk management and supply chain mapping, including the following: Rethinking Supply Chain Risk Management. Doing Nothing on Supply Chain Risk Management. Do You Have a “Top 25″ Supply Chain?