In today’s “era of predictable unpredictability”, as The Economist calls it, businesses must prioritise supply chain resilience to navigate the volatile landscape, minimise the impact of unexpected events, and ensure sustainable operations in an unpredictable world.
Unfortunately, disruption and its impact can manifest in a variety of ways, including:
- Slowed down production process due to a lack of resources or untimely deliveries.
- Inability to meet customer demands due to the slowdown in production.
- Rising production costs due to delays and higher materials procurement.
- Diminished customer trust because of delayed deliveries or cancelled orders.
- Compromised brand reputation due to delays and poor-quality service.
- Lower bottom line due to penalties and cancellation of orders.
Unreliable suppliers, delays, quality issues, or disturbances in the supply of critical inputs—these are just a few factors that could disrupt or jeopardise production schedules and product availability. So, the crucial question is, how can you build a supply chain that is resilient and flexible, capable of adapting to unforeseen circumstances, and effectively protecting against future disruptions?
Click HERE to find out how you can prepare for supply chain disruptions using technology.
Addressing the challenge of supply chain disruption is daunting enough. Exacerbating it are challenges such as the following:
- Transportation costs. Rising fuel prices, congestion, and environmental regulations can increase the cost and complexity of moving goods across the globe.
- Regulatory compliance. Different rules and standards for safety, quality, environmental protection, and trade can create barriers and complexities for cross-border transactions.
- Sustainability concerns. Customers and stakeholders increasingly demand more transparency and accountability for the environmental and social impacts of supply chain activities.
- Volatility in consumer demand. Fluctuations in customer demand can create mismatches between supply and demand, leading to excess inventory or stockouts.
These supply chain challenges are complex and dynamic, and they affect every aspect of your operations. This is why you need to overcome them through a holistic and integrated approach that leverages data, analytics, and technology. Otherwise, your business is at risk of being disrupted significantly.
In terms of technology, you might want to take a long, hard look at IBM’s supply chain solutions, which can help you address the foregoing challenges by providing you with:
- Complete visibility. IBM enables real-time visibility into the status and location of inventory, orders, shipments, assets and more across the entirety of your supply chain network. This visibility, in turn, helps improve decision-making, responsiveness and customer service.
- Intelligence. IBM uses advanced analytics and artificial intelligence to generate insights and recommendations to improve your supply chain’s performance. This helps reduce costs, risks and waste, while also increasing efficiency, quality and innovation.
- Collaboration. IBM facilitates collaboration and coordination among supply chain partners, such as suppliers, customers, carriers, and regulators. This helps improve trust, alignment and agility across the supply chain ecosystem.
IBM’s supply chain solutions are designed to address the specific needs and challenges of businesses in different industries—including yours. Put simply, these solutions can transform your supply chains into a strategic advantage that can drive your company’s growth and provide it with competitive differentiation.
Download this solution brief to find out more about IBM’s supply chain solutions.
