In 2020, the world is facing a global pandemic that has added unforeseen challenges to global supplychains. Things were difficult before, and in the aftermath of this public health crisis, new complications are bound to reveal themselves.
In every season, your supply chain should be poised to mitigate risk. In recent years, global networks have been pummeled with shortages, the ongoing trade war, and now the COVID-19 pandemic. These obstacles are nothing new, but for many manufacturers, the concept of mitigating risk in the product design phase is a novel one.
In many cases, the approach is more reactive than proactive. While it’s not possible to pinpoint when risks will emerge, or when delays will strike, it is possible to engage new real-time sources of insight that allow for timely responses to emerging risks, and the ability to develop strategies that minimize their impact.