Supply Chain Resilience Tactics

Supply chains have been facing significant need to undergo modernisation, with a major focus on agility and resilience.

Organisations around the world have different strategies for facing this issue, whether through implementing AI, nearshoring or implementing strategic relationships with partners.

Resilience tactics

Around the world, supply chains have one disruptive event after another. The last few years has seen a global pandemic, US tariffs, war, closures of critical trade routes, extreme weather patterns, inflation and more. Organisations have been in a constant state of reaction, unable to stabilise their operations for more than a few months at a time.

Volatility is now a structural constant – one which leaders must anticipate in order to stay afloat. As a result, organisations who are able to use predictive analytics or other tools to plan for these events are the ones which come out of them relatively unscathed.

Ongoing fragmentation has taken place, whether through individual companies, or through global trade relationships. Macroeconomic issues, such as tariffs, inflation and rising trade barriers, have created rifts in long-standing partnerships. With this, there has grown a greater need for compliance agility and policy foresight, with scenario modelling being a core driver of resilience.

For some, the strategies developed focus on technological advancements. For others, it is about prioritising relationships – whether this is strengthening supplier relationships, or forming collaborative partnerships with other organisations. Nucleus would especially attest to this strategy.

"When the next generation of leaders builds relationships early, the alliance gets stronger," - Joe Vidulich, Head of Government Relations at Appian.

Some organisations are applying technology, but are failing at the last hurdle, unable to apply it correctly and unlock value. Ineffectively applying tools can hinder responsiveness just as much as not adopting them at all – with the added bonus of wasted spend.

Global volatility shows no signs of stopping, which means supply chains around the world need to change strategies in order to mitigate risk and remain operational amid turbulence.

Source: Supply Chain Digital