article thumbnail

Five Ways to Avoid, Absorb and Recover from Supply Chain Disruptions

Supply Chain Brain

Supply chain resiliency is the ability of an organization to avoid, absorb and recover from the business impact of disruptions through a risk-balanced approach to product, supply chain strategy and network design.

article thumbnail

Understanding Offshoring, Onshoring, Nearshoring, and Rightshoring in Procurement

Una

Depending on the situation, each concept could significantly impact a company’s bottom line, affect the supply chain’s resiliency, and influence overall strategic objectives. This strategy aims to leverage local resources , reduce supply chain risks, and stimulate the domestic economy.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Supply Chain Planning — The Ultimate Guide of 2022

Procurement Tactics

Components of Supply Chain Planning . The chance of producing and stocking sufficient inventory improves when you accurately forecast demand for a product. . Supply chain planners look carefully into historical customer behavior, sales, market conditions, and other factors to effectively forecast the demand. .

article thumbnail

Beginners Guide to Supply Chain Management

World of Procurement blog

Manufacturers play a crucial role by creating the physical products that are eventually sold to the consumer. Supply Chain Lifecycle The supply chain lifecycle consists of several key phases: Planning : This involves the demand planning, supply planning, and overall business strategy.

article thumbnail

Beginners Guide to Supply Chain Management

World of Procurement blog

Manufacturers play a crucial role by creating the physical products that are eventually sold to the consumer. Supply Chain Lifecycle The supply chain lifecycle consists of several key phases: Planning : This involves the demand planning, supply planning, and overall business strategy.

article thumbnail

FDA FSMA: Providing value beyond compliance

IBM Supply Chain Blog

They will be able to: Utilize reporting to identify trends and risks within the product supply chain for mitigation and improvement. Collaborate with supply chain partners to share sustainability and ESG metrics, leading to enhanced supplier performance and decarbonization.

article thumbnail

The Supply Chain Management Playbook: Your Game Plan for Operational Success

World of Procurement blog

Risk Management and Mitigation Supply chains face risks like natural disasters, geopolitical events, labor disputes, supplier failures, and cyber attacks. Risk management strategies include supplier diversification, security stock buffers, business continuity planning, and scenario modeling.