Five Ways to Build Resiliency into Supply Chains
SGS Maine Pointe recommends flexible, redundant, collaborative supply chains.
March 27, 2023, Boston, MA – Many lessons may have been forgotten post-pandemic but one stands out as unarguable: businesses need to prepare for future disruptions or they will not survive. In his recent article in Supply Chain Management Review, Bob Brennan, Senior Managing Director and Head of Integrated Solutions, at SGS Maine Pointe, a member of the SGS Group, describes how companies with a diversified, collaborative, and transparent supply chain are better able to weather volatility, including supply disruptions, changing demand, and price increases, as well as control risk.
In “The Importance of supply chain resiliency in a post-pandemic world,” Brennan offers five strategies for building resilient supply chains, including diversifying the supply chain, investing in digital technologies, collaborating and sharing information, increasing redundancy, and continuously monitoring and evaluating performance. He states, “Business should collaborate with their suppliers, customers, and logistics partners to share information and identify potential risks.” That information might include real-time data on inventory levels, demand forecasts, and logistics capacity.
Similarly, diversifying the supply chain allows businesses to pivot quickly to alternative suppliers and adapt their operations as demand changes. Brennan also cites the value of IoT, blockchain, AI, and similar technologies in tracking the location and condition of goods, analyzing data to predict demand, and optimizing operations, among other benefits.
A leader in supply chain best practices, Brennan points out “supply chain resiliency will be more important than ever” for companies who want to survive and thrive in the post-pandemic business world.
About SGS Maine Pointe
SGS Maine Pointe, a member of the SGS Group, is a global supply chain and operations consulting firm trusted by chief executives and private equity firms to drive compelling economic returns for their companies. We achieve this by delivering accelerated, sustainable improvements in EBITDA, cash, and growth across their operations, procurement, and logistics. Our hands-on implementation experts work with executives and their teams to rapidly break through functional silos and transform the plan-buy-make-move supply chain to deliver the greatest value to customers and investors at the lowest cost and risk to business.
SGS Maine Pointe’s engagements are results-driven and deliver between 4:1-8:1 ROI. We are so confident in our work and our processes that we provide a unique 100% guarantee of engagement fees based on annualized savings. www.mainepointe.com
We are SGS – the world’s leading testing, inspection, and certification company. We are recognized as the global benchmark for quality and integrity. Our 96,000 employees operate a network of 2,600 offices and laboratories, working together to enable a better, safer, and more interconnected world. SGS has been delivering ESG and sustainability solutions and services to clients for the past 25 years and has been a carbon neutral company for the past seven years.