{"id":3145,"date":"2020-10-29T12:18:46","date_gmt":"2020-10-29T17:18:46","guid":{"rendered":"https:\/\/www.mhisolutionsmag.com\/?p=3145"},"modified":"2020-12-22T12:18:30","modified_gmt":"2020-12-22T18:18:30","slug":"6-steps-to-a-more-resilient-supply-chain","status":"publish","type":"post","link":"https:\/\/www.mhisolutionsmag.com\/index.php\/2020\/10\/29\/6-steps-to-a-more-resilient-supply-chain\/","title":{"rendered":"6 Steps to a More Resilient Supply Chain"},"content":{"rendered":"\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"400\" height=\"293\" src=\"https:\/\/www.mhisolutionsmag.com\/wp-content\/uploads\/2020\/10\/Resiliency_400p.jpg\" alt=\"\" class=\"wp-image-3146\" srcset=\"https:\/\/www.mhisolutionsmag.com\/wp-content\/uploads\/2020\/10\/Resiliency_400p.jpg 400w, https:\/\/www.mhisolutionsmag.com\/wp-content\/uploads\/2020\/10\/Resiliency_400p-300x220.jpg 300w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\" \/><\/figure><\/div>\n\n\n\n<p>BY MARY LOU JAY<\/p>\n\n\n\n<p>The COVID-19 pandemic devastated the supply chains of many sectors, and many companies are still feeling the aftershocks. As they try to get back to normal operations, businesses are pondering what they need to do to build supply chains that are, if not quite invincible, at least more resilient. These six strategies could increase their chance of success.<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li><strong>Building end-to-end visibility<\/strong><\/li><\/ol>\n\n\n\n<p>Visibility is at the heart of a resilient supply chain, but businesses today frequently lack real knowledge of what\u2019s happening with their suppliers and their customers at multiple levels.<\/p>\n\n\n\n<p>\u201cIn the effort to continue to reduce costs to build products and to be competitive in the marketplace, companies have looked globally to supply chains,\u201d said Aaron Parrott, managing director with Deloitte Consulting LLP. \u201cBut some really don\u2019t understand what their supply chains look like. They know tier one, but beyond that have no idea how their supply chains are structured.\u201d<\/p>\n\n\n\n<p>Companies should be tracking their tier one suppliers\u2019 suppliers, those tier one suppliers\u2019 suppliers and so on, identifying and paying the closest attention to those that are key to their businesses. An automotive manufacturer, for example, should have a system in place so it quickly gets alerts if a fourth-tier producer of ball bearings used in a gear box can\u2019t get the materials it needs, or if a fifth-tier supplier has gone bankrupt. Without timely interventions, both of those scenarios could shut down production lines.<\/p>\n\n\n\n<p>\u201cVisibility doesn\u2019t fix the problem, but visibility does let you know that you have a problem,\u201d said Jim Tompkins, chairman of MHI member Tompkins International.<\/p>\n\n\n\n<p>But that\u2019s just one side of the supply chain. In order to anticipate demand and to be prepared to adjust production levels, companies must know not only what their own customers will want to buy but also what their customers\u2019 customers are looking for.<\/p>\n\n\n\n<p>Companies like IBM and Dell, which have invested heavily in supply chain visibility, have reaped the benefits during the pandemic. \u201cThey were able to pretty effectively meet their customers\u2019 demands throughout, even though there were disruptions at various points, because they could see well in advance when things were going to disrupt production or customer delivery,\u201d said Steve Tracey, executive director of the Center for Supply Chain Research at Penn State University\u2019s Smeal College of Business. Armed with that knowledge, they could start finding workarounds at a time when other companies were still scrambling to figure out where their supply chain breakdowns had occurred.\u00a0<\/p>\n\n\n\n<p><strong>2. \u00a0Rethinking sources of supply<\/strong><\/p>\n\n\n\n<p>The last few decades, due to China\u2019s low production costs, many businesses have relied on that country\u2019s manufacturers to produce all or a very significant percentage of their parts and products. At the same time, companies have reduced the number of suppliers to take advantage of volume discounts on orders.<\/p>\n\n\n\n<p><strong><em><a href=\"https:\/\/www.mhisolutions-digital.com\/mhiq\/0420_volume_8__issue_4\/MobilePagedArticle.action?articleId=1633319&amp;app=false#articleId1633319\">Read More&#8230;<\/a><\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BY MARY LOU JAY The COVID-19 pandemic devastated the supply chains of many sectors, and many companies are still feeling the aftershocks. As they try to get back to normal operations, businesses are pondering what they need to do to build supply chains that are, if not quite invincible, at least more resilient. These six &#8230;<\/p>\n","protected":false},"author":46,"featured_media":3146,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,15,10,17,13],"tags":[1774,1780,428,1776,129,1622,1781,1257,1783,442,1902,387,1778,1777,1775,1782,1779,723],"class_list":["post-3145","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-features","category-global-trends","category-industry-trends","category-safety","category-technology","tag-aaron-parrott","tag-add-options-to-manufacturing","tag-artificial-intelligence","tag-center-for-supply-chain-research","tag-deloitte","tag-end-to-end-visibility","tag-increasing-collaboration","tag-jim-tompkins","tag-manufacturing-ai","tag-mhi-solutions","tag-mhi-solutions-magazine","tag-penn-state-university","tag-resilient-supply-chain","tag-smeal-college-of-business","tag-steve-tracey","tag-supply-chain-artificial-intelligence","tag-supply-chain-sources","tag-tompkins-international"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>6 Steps to a More Resilient Supply Chain - MHI Solutions<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.mhisolutionsmag.com\/index.php\/2020\/10\/29\/6-steps-to-a-more-resilient-supply-chain\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"6 Steps to a More Resilient Supply Chain - MHI Solutions\" \/>\n<meta property=\"og:description\" content=\"BY MARY LOU JAY The COVID-19 pandemic devastated the supply chains of many sectors, and many companies are still feeling the aftershocks. 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