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Design of Resilient Supply Chains involves multiple perspectives.
Resilience in supply chains is gaining importance, of late. Teams feel that disruptions and uncertainties, both large and small, have gone up. Companies with poorer resilience are losing their customers, sales, and profits to their competitors who are more resilient.
My discussion with several supply chain leaders indicates that they are currently working on several fronts… creating redundancy, increasing inventory buffers, and bringing suppliers closer to factories (onshoring, nearshoring, friend-shoring). However, they are confused where to focus their efforts. Where is the business case for each of these strategies?
These are the considerations which must go into designing resilient supply chains.
Here comes the spoiler. All these are effective options, but in specific cases. Where to use each one of them? Learn from Mother Nature!
I will cover the nuances in my subsequent posts…