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Resiliency in Supply Chain can be improved in a cost effective manner.
If we want to make our supply chains more resilient, the common perception in many teams is that it would be costly. It will require extra funds, cost of operations would go up…
This thinking is flawed.
It actually depends on how you create resilience. If it is done through creating redundancy, of course, it would mean additional expenditure. However, the right way to make the supply chain more resilient is through Lead Time compression in the extended supply chain.
The three core supply chain capabilities of Demand Sensing, Responsiveness, and Flexibility come in handy to improve resilience, not only in our internal network but with the extended supply chain partners as well.