In our global economy, disruptions within any supply chain are common. Unfortunately, with the rise of COVID-19, more prominent issues have emerged that have made businesses scramble to find new ways to adjust and get back on track. As businesses adjust to these issues, it has become more eminent that having a resilient and adaptive supply chain is key to getting their supply chain ahead of the rest.
Implement Visibility and Agility
Having visibility across your supply chain and logistics network will help you adapt quickly to any change. As businesses all over the world recover from COVID-19, it is clear there has been a shift in volume between distribution centers. When your company lacks a real-time view of both supply chain and logistics operations, having a speedy adaption, when necessary, can be exceptionally difficult to achieve.
Start Scenario Planning
Due to COVID-19, supply chain disruptions have become more unpredictable and difficult to mitigate. Planning out multiple scenarios for your business will help you to build your supply chain strategies that best fit these scenarios so that in the event of disruptions, your business is ready to mitigate these issues and get your supply chain back on track as quick as possible. Modeling your logistics network is a smart way to equip your business to respond decisively to rapid shifts in market conditions.
Integrate Digital Processes
When building an adaptive supply chain within your business, it is important to implement a coordinated series of actions across all supply chain functions, like order management or transportation routing. One way to achieve this is by implementing digital processes like cloud-based digital platforms to help your business secure connections, link systems, and exchange information. Cloud-based systems are critical when your business is navigating through various crises as this system can handle processes such as automation, machine learning, and blockchain to help provide resilience.
Often, supply chains require an abundance of suppliers and partners to keep it up and running while simultaneously keeping an eye out for potential disruptions. Though it is crucial for your supply chain to have all hands-on deck to be able to absorb any shock, this process can easily lead to issues with poor communication. Collaboration with your suppliers and partners is key when building a more adaptive supply chain so that your business can mitigate any disruptions and issues.
Reworking your supply chain to be adaptive doesn’t happen overnight. With proper tools, knowledge, and technology your business can begin the process to achieving the ideal supply chain. As a 3PL with over 30 years in comprehensive supply chain management, we at NewStream understand just how important it is to have an adaptive supply chain. Our team of experts are equipped with the knowledge and expertise to help you achieve the adaptivity and resilience you need to help you love your supply chain again!