Supply Chain Opportunities

Opportunities Description Recommendation

1. Limited Granularity of When China shut down, many For me I recommend that they
Data who thought they understood need to invest more resources
their supply chains discovered in understanding supply chain
that knowing Tier 1 suppliers complexity. I know it is not an
wasn't enough. Few easy task because on what we
appreciated the extent supply encounter but by applying this it
would be affected by the can improve our supply chain.
shutdown of Tier 2 and Tier 3 Also, they need to be ready and
suppliers located in the Wuhan find a solution in every
region and later, as the virus problems or challenge that we
spread, in other parts of the encounter.
world. Much of this was due to
faulty assumptions regarding
Tier 1 suppliers and possibly a
degree of wishful thinking. As
New York Governor Cuomo said
in his daily COVID-19 briefings,
"Let’s start with facts. While we
all have opinions, let’s start by
reviewing the facts."

It’s absolutely crucial

organizations map out their
supply chains, in detail, to
identify vulnerabilities and
weaknesses. This information
will allow fast and decisive
action when lower-level
supplies are threatened.
2. Single- source Amplifies For numerous reasons, many For me I recommend that they
Supply Chain Risk companies have focused on don’t need to focus on one
single-sourcing strategies, supplier they need to find other
possibly because this was suppliers that have same
perceived to be the lowest cost product on their business so
scenario. Unfortunately, this that they can overcome the
also means companies are supply chain risk. And by
vulnerable if suppliers face applying this it also improves
shortages or production your profits and you can avoid
interruptions. As Warren Buffet shortages of production.
said, "Only when the tide is out
do you discover who has been
swimming naked."
 In a complex world facing the
sorts of supply chain challenges
referred to above, single
sourcing is risky and a
guaranteed way to lose sales
when disruption occurs.
Instead, companies should
focus on risk mitigation
strategies to anticipate and
minimize supply chain
challenges and risks.
3. Slowed digital Digital (transformation) could I recommend that the people
transformation enable leaders to make much who operate the digital
more intelligent decisions. This technologies needs to have a
is becoming more vital than training that can help them to
ever." operate properly by that it can
help them to monitor the data
Its crucial companies devise in the system and manage it
ways to access supply chain with an impact solution.
data through the introduction
of technologies that allow data
to flow freely through the
system. Additionally,
organizations need technologies
such as a supply chain digital
twin that allow them to
monitor, manage and observe
the impacts of decisions.
4. Maintaining Traditional Traditional inventory control I recommend that they need to
Inventory strategies strategies focus on past recommends that they need to
performance to determine use streaming data to drives
current inventory strategies. insight and also determine the
Precise algorithms are used to market shift and establish the
determine exact requirements. demand so that they can deal
The problem with this approach with the supply chain. Also, by
is that it doesn't take into using this you can get a better
consideration unexpected standard inventory solution.
events, nor is it agile and is
often completely divorced from
current realities.
5. Lack of Actionable Data A common theme facing I recommend that need to
and Insights business leadership, and supply interrogate data to determine
chain management in an optimal solution. Also they
particular, is they often don't need to apply prescript analytics
have sufficient information at because this can help to create
hand to make informed model supply chain that reflects
decisions. Added to that, supply works , all input and output
chain complexity makes it contain together . also, by using
difficult to evaluate multiple this it can organize to evaluate
alternatives, trade-offs and the different scenario and
scenarios to arrive at the best determine the best way to
or right decision. overcome supply chain
challenges and achieve supply
While traditional transactional- chain.
based ERP excels in handling
huge volumes of data, the way
information is captured,
handled and stored means it's
hard to use it for identifying
forward-looking trends. The
same applies to most business
analytics that are great for
reporting what happened in the
past, but provide limited insight
into future supply chain
challenges.