In a recent webcast, Gartner’s VP Analyst, Dana Stiffler, with supply chain expert Tom Enright discussed supply chain trends and outlined seven strategies to rise above persistent disruption in today's environment. They provided best practices to help companies build visibility into their supply chains in order to navigate these challenges and come out stronger on the other side.
Seven Strategies for Success
- Address the root cause of vulnerability – To build supply chain resilience, you first need to understand the risks in your supply chain. This requires deep visibility into your multi-tier supply chain.
- Get smart about demand – Many companies are facing demand uncertainty. To address this, companies need to get smarter about demand forecasting and management.
- Sense market shifts earlier – Companies need to set up early warning systems to detect market shifts before they impact the business.
- Rethink inventory – As supply chain disruptions become more frequent, companies need to rethink their inventory strategies. This includes building strategic buffers in the right places.
- Manage supplier risk proactively – Companies need to move from reactive to proactive supplier risk management. This requires deep visibility into the supply chain.
- Build an adaptive infrastructure – Companies need to build an adaptive infrastructure that can respond quickly to changes in the business environment.
- Turbocharge talent and culture – Companies need to invest in the right talent and culture to build supply chain resilience.
Implications for supply chain leaders
The webcast highlighted the need for companies to invest in supply chain visibility capabilities. Companies that have invested in these capabilities are better positioned to rise above persistent disruption. TADA’s supply chain visibility platform helps companies monitor, predict, and mitigate disruptions across multi-tier supply networks, giving companies the ability to make better decisions faster.
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