Building a More Resilient Supply Chain
Published on : Saturday 03-12-2022
By developing strong relationships with your suppliers, you will create a win-win situation, says Jeff Winter.
A resilient supply chain is one that can withstand disruptions and continue operating. Many factors can contribute to supply chain disruptions, including natural disasters, political instability, and transportation issues. In recent years, we have seen an increase in the frequency and severity of supply chain disruptions, which has led many manufacturers to re-evaluate their supply chains.
There are several steps that manufacturers can take to build a more resilient supply chain. A few include:
Adopting new technology
One of the best ways to increase resilience in your supply chain is to adopt new technology. Cloud-based solutions, for example, can give you real-time visibility into your supply chain so that you can quickly identify and respond to disruptions. Advanced analytics can help you optimise your operations and make them more flexible so that you can adapt as needed. By investing in new technology, you can make your supply chain more agile and better able to withstand disruptions.
Diversifying your supplier base
Another way to increase resilience in your supply chain is to diversify your supplier base. This means having multiple suppliers for each component of your product or service. For example, if you are a clothing manufacturer, you might have one supplier for fabric, another for buttons, and another for zippers. This way, if one supplier experiences a disruption, you can quickly switch to another supplier without missing a beat. Diversifying your supplier base will help reduce risk and keep your business running smoothly during times of disruption.
Developing strong relationships with suppliers
Finally, it is important to develop strong relationships with your suppliers so that they are more likely to continue doing business with you during times of disruption. This means being clear about your expectations and communicating regularly. It also means paying invoices on time and being responsive to their needs. By developing strong relationships with your suppliers, you will create a win-win situation where both parties benefit from a long-term relationship.
Jeff Winter – Industry 4.0 & Digital Transformation Enthusias/Business Strategist/Avid Storyteller/Tech Geek/Public Speaker.
My passion is helping companies digitally transform in innovative ways through the use of Industry 4.0 technologies. Doing so requires a unique ability to bridge the gap between business strategy, industry trends, technology implementation, and change management.
I enjoy building collaborative relationships with clients, partners, coworkers, and industry evangelists to help empower manufacturers to achieve more. As an Industry Executive for Microsoft, I focus on helping companies that build “things” (discrete manufacturers) or “stuff” (continuous/process manufacturers) digitally transform.
I am very active within the industry as an ambassador and influencer to help inspire companies, professionals, and students to be excited about the future created by the fourth industrial revolution. I write, speak, and share content on LinkedIn to foster a conversational environment and build meaningful connections.
