Act now to ensure sourcing and manufacturing optionality
When the unexpected happens, not having supply chain sourcing optionality or manufacturing footprint capacity could impact margins, growth and customer service.
Key risk factors the world will be watching in 2021:
- The global pandemic exposed serious weaknesses in many supply chain and operations models. As we enter the new year, it will be the catalyst to a fundamental shift in the way organizations are led, structured and operated
- Global markets are pinning their hopes on a rapid roll out of COVID-19 vaccines, with many countries planning to immunize the majority of their population by early summer. However, supply, distribution, adoption and efficacy issues may yet cause delays to this timeline. In the meantime, ever more stringent lockdowns are becoming the new reality
- The Biden administration is expected to keep pressure on China and continue to promote the interests of US workers while taking more of a lead on global issues. Biden is unlikely to remove President Trump's Section 232 or 301 tariffs but the administration may be open to reforms to the exclusions process
- China and 14 Asia Pacific countries signed the RCEP trade agreement in November 2020. This is seen by many as a major step towards removing trade barriers and extending China's influence
- In its September 2020 report, the Organization for Economic Cooperation and Development (OECD) predicted world GDP will contract by 4.5% in 2020 as many countries fight to control a resurgence in the number of COVID-19 infections
- In an increasingly uncertain world, supply chain leaders need to quickly take measures to manage short, mid and long-term risk through and build a resilient, agile digitally-enabled supply chain and operations
Maine Pointe's range of end-to-end services helps CEOs build resilience into the supply chain
The pandemic has caught many companies off guard. It has brought to light the hidden vulnerabilities that exist within an otherwise efficient global supply chain, reinforcing the need for digitization, optionality, agility, better visibility and an improved balance between local, regional and global sourcing, and adding new urgency to the need to know sooner and act faster.
We can help you prepare for and respond to the unexpected
Consumer behavior has changed, perhaps permanently. Some suppliers continue to fall behind in meeting production and delivery schedules, while still others have shut their doors for good, and the disruption to the supply chain is likely to last longer than the pandemic itself. Having an end-to-end supply chain risk management approach is critical to growth, profitability and corporate survival. Our three step stabilize-recover-rebalance approach can help organizations weather the pandemic, manage supply and be better prepared for future global risk events.
It's time to rebalance
Having passed through the stabilize phase and entered recovery mode, it’s now critical that companies turn their attention towards the broader challenge of rebalancing their supply chain and operations. This is key to achieving your 2021 targets by ensuring you have a resilient and agile digitally enabled supply chain - optimized for risk, cost, cash and growth performance.
Our supplier base now understands that we bring a much larger spend to the market than was previously visible, and our organization understands the risks and opportunities within our supply chain. I would recommend Maine Pointe to any organization looking to transform its procurement, sales and operations planning and data analytics capabilities into competitive advantages." CEO heavy equipment manufacturer (Maine Pointe Success Story CS222a)
Take the first step
Don't wait for the next storm to hit. Contact us and find out how our flexible onsite/offsite delivery model can help you reduce risk, decrease cost, release cash and drive growth across your plan-buy-make-move-fulfill supply chain.