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Safeguard and Build Resilience In Your Supply Chain

The coronavirus pandemic crisis has swiftly swept the globe, with profound effects on the economy, corporate financial positions and supply chain continuity. Impacts and implications have varied widely by industry and even among companies within a sector. The fallout from the pandemic has revealed a dire need to improve visibility across the supply chain, analyse and secure supply, and develop greater agility for adjusting to significant demand shocks.

The immediate response has generally been reactive, requiring decision-making with ambiguous and incomplete information to manage day-to-day disruptions throughout the supply chain. This ad hoc approach has been essential for getting through the crisis, but it isn’t sustainable.

As companies reopen for business, they must be prepared to ensure resiliency in supply chain operations over the medium and long term. Safeguarding measures are part of a broader set of business continuity planning actions designed to keep the business running by ensuring call centers, factories, distribution centers and other services can sustain day-to-day operations.

As we turn the corner during this crisis, companies must proactively plan their recovery and restoration of operations. The recovery path will not be linear. Many companies will face periods of supply and demand imbalance as they begin to resume complex operations at full capacity. It will be critical to reach a new equilibrium with supply chain visibility, resilience and agility to succeed in the next normal.

Download the full report from The Hackett Group here.
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