Coronavirus Spurs Supply Chain into ProminenceArticle by Lisa Anderson, March 16, 2020
The House of Representatives has launched a new Congressional Supply Chain Caucus. The coronavirus is spurring supply chain into the limelight. Because China is impacted, the effects to the supply chain will be felt throughout the world in 2-3 months (and sooner for countries closer to the source). We are already starting to see these effects. In addition, it is creating a panic resulting in virus-related supplies already being scarce. If nothing else, it is definitely highlighting the impact of the supply chain.
On a related note, listen to my video about the coronavirus where I talk about, establishing backup plans and future-proofing your supply chain. I’d love to hear about your situations, your ideas and plans so we can exchange ideas. Please email me.
What Should We Consider and/or What Impacts Could Arise?
The supply chain was already starting to gain prominence in the C suite. Since the supply chain is responsible for the vast majority of cost, it has always been relevant. Now, it has gained in relevance as its impact on the customer experience has come to light. And, with disruptions like the coronavirus spread, the critical nature of the supply chain has been highlighted. We cannot leave our end-to-end supply chain to chance or we will be left in the dust at the first sign of disruption.
Instead, we should not only proactively look at backups but we should also diversify across countries/geographies, size companies, industries and more. We should build solid relationships to proactively and successfully navigate disruptions. In fact, we will be publishing the 10 ways to Keep Your Supply Chain Moving shortly. Stay tuned…
In the interim, keep focused. Don’t panic. Look for solutions. Don’t be deterred by roadblocks. In essence, create a resilient supply chain. There are several ideas in our new LMA-i, LMA-Intelligence series including the Resilient Supply Chain and Future-Proofing.
Contact us if you’d like an assessment of how well you have future-proofed your manufacturing operations and extended supply chain.