The past few years have taught supply chain professionals critical lessons in advanced acrobatics, as global issues exposed systematic supply chain weaknesses. Now, geopolitical complications are fueling additional economic uncertainty and influencing decisions across the supply chain. Organizations that source globally must find new ways to address potential vulnerabilities. From where goods are sourced to how they’re tracked as they move from country to country, the strength and flexibility of each link across the supply chain must be carefully considered.
Reasons to be optimistic
According to our Middle Market Business Index: March 2021, more than 50% of middle market executives report their organizations’ supply chains were disrupted because of the pandemic.
More than 81% of respondents to our MMBI 2022 Supply Chain report noted they can adapt their supply chain without sacrificing quality.
Regardless of an organization’s size or industry, strategic planning now will pay off to help companies prepare for the near future—and the next major disruption. Implementing policies that prioritize resiliency is a clear first move, but questions about practical implications still abound. Small and mid-sized businesses were more likely to report the following impacts to their supply chain:
- Price increases
- Order delays
- Unreliable order fulfillments
- Product discontinuations
We have narrowed down five steps companies should pay attention to, to help develop a more resilient supply chain. Get a copy of our Strategies for Building Resiliency to unlock what those steps are, ideas to help you move from the status quo to a resilient supply chain and how technology can help you manage supply chain challenges.
Start working the steps now.
Download the e-book
Supply chain insights and resources
To navigate the current environment, middle market companies must be nimble, while at the same time maintaining full transparency through sophisticated data analysis.
