In today’s world, supply chains face many challenges. With the Covid-19 pandemic, Russian invasion of Ukraine and extreme weather events around the world caused or exacerbated by climate change, supply chains are facing challenges like never before.
If you haven’t already done so, now is the time to review your supplier base. One of the factors that will help keep your business running is a resilient and therefore diverse supply base in terms of location (neighborhood, city, region, country), ownership and size of suppliers.
In a very insightful article in Forbes ”Supply Chain Crisis Worsens As Russia’s War Against Ukraine Continues”, Jennifer Bisceglie from Interos observed that “We are experiencing the biggest shift in supply chains since the era of globalization began—perpetual disruption is the new normal. Now and in the future, continuous real-time monitoring of every tier of [the] supply chain will be the norm to help companies get ahead of the next crisis. Additionally, leaders will need to look at investing in new strategies for alternative sourcing which may include a blend of regional and global supply partners.
Are you already reviewing your supplier base? Contact
You might find this article from Green Biz interesting as well; How do you redesign your supply chain in a chaotic world?