Supply Chain Innovation | How to Strengthen your Weaknesses

<p>The Visionary Chronicles </p> <p>CHRONICLE: September 29nd, 2021</p> <p> "A wise human would have an understanding of the supply chain and how the pieces fit together. But it's against our nature to think about it..."</p> <p>                                                                                    Wisdom from Paola Bacigalupi</p> <p>PODCAST: Supply Chain Innovation | How to Strengthen your Weaknesses</p> <p>In my new PODCAST, I discuss how businesses have identified the need to update, replace or reimagine their supply chain.</p> <p> </p> <p>When the pandemic struck, many companies were forced to address their supply chain, and what they found was a weak foundation, one in need of repair long before the pandemic.</p> <p>In working with global leaders of these brands, we found complacency in which as long as the wheels were turning, all was good; it was not until the wheels stopped that they recognized they did not have an adequate "fail-safe" supply chain.</p> <p>The pandemic forced these companies to address their supply chain "weak links," strengthen these weaknesses, and assure they can absorb future disruptions. In this instance, they merely looked to manage the pandemic the best they could within the circumstances. They licked their wounds with both consumers and retailers.</p> <p>In most instances, the strategy they deployed, such as lean manufacturing, was effective while their supply chain was moving, but when it stopped, it proved deadly. The lean method is still an effective strategy but needs additional foundational support around this structure. Support pillars such as; enhanced (multi-category) replicated sourcing, alternate geo-sourcing where political moves do not constrain capacity, increased capacity, and safety stock.</p> <p>While consumers continue to demand quick-turn at lower prices, what is a brand to do without losing its competitive edge?</p> <p>There are several key factors when evaluating your supply chain to determine your "fail safe" status;</p> <