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What should be the focus in designing Resilient Supply Chains?
Several companies are working on initiatives to make their supply chains more resilient. However, the objective of these initiatives is often left vague. My discussion with supply chain leaders indicates objectives such as improved reliability of supplies and better preparedness against disruptions. How do we quantify these in business terms? That’s where teams struggle to justify the resilience projects.
In my opinion, reliability and preparedness against disruptions are intermediate objectives. These must result in quantifiable business benefits of higher product availability and improved freshness.
While some of the specific disruptions, against which we are preparing ourselves, may not manifest in the near future, there are several of them happening in any quarter or year.
If the resilience initiatives have been designed and executed well, business must see tangible benefits of higher availability and improved freshness. If not, let’s go back to the drawing board and improve the design.