![]() In a high value product category, stockouts are expensive – therefore, service levels are important. First, determine whether cost or response time is a higher priority for a particular product line. ![]() Identify competitive priorities for particular product categories and match those priorities with supply chain capabilities. Geraint John, vice president analyst with the Gartner Supply Chain practice. The challenge will be to create an operating model for supply chains that combines the best of both worlds and also delivers supreme customer service.” At the same time, 60% admit that their supply chains have not been designed for resilience, but cost-efficiency. “Supply chain executives overwhelmingly recognise the necessity to make their networks more resilient and agile. ![]() Another Gartner study recently found that 87% of supply chain professionals have realised this to be true and thus plan to invest in supply chain resilience in the next 2-years. These qualities are very important to have in a supply chain if businesses want to be as prepared as possible for disrupting events, like a global pandemic, for example. A resilient supply chain is one that displays good visibility, and the agility to shift sourcing, manufacturing, and distribution activities easily, if need be. Luckily, we have the tools to prepare for those events – we just have to know how to use them.Ī recent Gartner Survey found that only 21% of supply chain professionals would say that they already have a supply chain that is resilient. ![]() It’s impossible for anyone to predict the future, but we do know that unexpected, business-disrupting events could happen at any time. Building a resilient supply chain is crucial for business success. ![]()
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