Understanding that the volatility of the supply chain can impact the ways in which organizations handle their business and collaboration, a majority of companies are beginning to retool their supply chain planning strategies. The adjustments that are being made are done so in hopes that operational and financial management can be improved to levels in which risks are primarily limited and thus little to no failure can occur in their supply chain. Supply chain planners, rather than being reactive, are proactive. In being proactive, these planners are examining a range of what-if situations and creating a plan to recover from them if they occur. An example of such planning might look something like addressing sudden surges in demand. Just as these surges in demand will require a unique solution, so too will a significant dip in demand. Similarly, issues surrounding inventory placement complications and supply shortages will require their own unique solutions that organizations will have to determine on their own. While it may seem difficult to forecast something as sporadic as the supply chain, there are ways to do so that will ensure your company remains prepared despite any supply chain issues. For more information on these methods of preparation, please spend some time reviewing the infographic supported alongside this post.

Supply Chain Shortages & Its Impact On Manufacturing

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