Supply chain risk comes in many forms. Now more than ever, it's critical for organizations to identify and reduce these risk factors, while maturing their ability to react to changing dynamics. This flexibility requires visibility, capability and resilience.

In these turbulent times, many are starting to plan ways to identify and eliminate areas where their supply chains are vulnerable.  This includes performing supply chain risk assessments as a first step. These assessments analyze your maturity level across people, processes, technology, and partners with self-assessment exercises, and provide you with a road map to achieve your desired, risk-reduced future state.

Organizations everywhere should start by asking three critical questions about their supply chains:

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In our last post in this series, we discussed the importance of having guiding principles for a supply chain. Now, we'll explore the second question:

What wastes lay hidden in areas such as: inventory, transportation, space and facilities, time, packaging, administration and knowledge within my supply chain?

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Since our first post in this series, we hope you've taken a few moments to reflect on your supply chain with the following questions:

1. What are the guiding principles of my supply chain?
2. What wastes lay hidden in areas such as: inventory, transportation, space and facilities, time, packaging, administration and knowledge within my supply chain?

Let’s begin by tackling question one for today: What are the guiding principles of your supply chain? 

First, have you or your team really defined the purpose of your supply chain?  When it was created, was it a matter of just piecing things together, as it progressed, or did you have a strategic plan on how it would fit together to deliver the products needed in the time required?  Unfortunately, many supply chains that we first encounter fit into the former scenario.  This approach is similar to building a car without fully understanding all of the pieces and systems that must fit together and work in harmony without first having a plan! 

Yet, many companies manage a complex supply chain that moves parts and stock keeping units (SKUs) over thousands of miles, through multiple borders and various modes of transportation, with little to no visibility or strategy.

Navigating through this complexity while keeping a "true north" requires a set of guiding principles for a resilient supply chain.

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There are few among us who would have believed the severity of the "Black Swan" event amidst which we currently find ourselves. Our way of thinking about the world and our supply chains has changed.  We now find ourselves in uncharted waters and where we need to now - in some respects - begin again. 

Our supply chain status quo will not carry us successfully into the future. It's time for us to review, revamp and rebuild.  

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Global supply chains everywhere are being disrupted by the COVID-19 pandemic. The good news is that with effective logistics control towers and management systems we can assure that critical supplies, food and materials will get to the people and communities that need them most. 

As our operations team meets hourly, daily and weekly, we're continuing to put pressure on different aspects of customer supply chains in order to improve performance and cost -- even amidst a pandemic.

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First the trade war with China, now the spread of COVID-19. Some companies are facing a new reality: their supply chains are becoming increasingly unstable. When events like these happen – regardless of where – supply chains can be under-prepared and at the mercy of the market.

With COVID-19, the situation is evolving very quickly. What can we do now to mitigate the impact? And once this is all over, how will we recover?

In a webinar from Competitive Insights and LeanCor, we dove into what actionable supply chain risk (SCR) strategies companies are using that position them to thrive in this disruptive environment - while protecting team members, customers, and margins. 

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