Building the resilience of the supply chain

by Sep 7, 2021Supply Chain

WHAT ARE THE RISKS?

The supply chain makes it possible to obtain goods and services in a quick, safe and secure way for all of those who are at risk of infection or who operate on the front line in the health sector. Leaders need to make quick decisions and to immediate action to sustain business operations serving their customers, the community as well as supporting and protecting all their employees.

94%

some companies do not have the guarantee of a supply chain;

75%

some companies have had negative impacts;

55%

of companies that expect to scale back growth prospects.

WHAT CAN BE DONE?

The precise actions that need to be taken are difficult to predict. This event has and will have an impact that will eclipse any action that was previously predicted by company leaders and management. However, it is essential to adopt a transversal method. The speed of escalation automatically requires continuous end-to-end evaluation, optimisation and monitoring. Companies need to respond with confidence to be able to define a short-term tactical plan that will mitigate the risks to human health and protect the functioning of global supply chains. The capacity to analyse the short-term data will be the key to understanding complexity and anticipating any potential disruptions by rapidly developing medium-long-term responses.

What actions could be taken:

Within 72 hours:

evaluate the current operations and outline any initial recommendations.

Within 1 week:

establish the command centre and begin rapid response implementation

Within 2 weeks:

quickly adjust the operations and continue with the response cycle

Within 4 weeks:

establish an ongoing operational capability

WHAT ARE THE ACTIONS FOR THE FUTURE?

The pandemic is not just a short-term crisis. It has long-term implications that affect how people work and how supply chains work. It will be indispensable and fundamental to create long-term resilience in the value chains for the management of the future.

Holistic approaches and flexibility are required so as to protect companies from any future disruptions. Strong development of a solid framework that includes responsive and resilient risk management capability must be taken into consideration. That capability needs to be technology-based, leveraging platforms that can support data analytics, artificial intelligence and also machine learning.

HOW CAN POLARIS HELP YOU

Polaris has dealt with crisis management first and assists its customers both in managing any immediate challenges they fear due to the pandemic and in creating responsive, adaptable and intelligent value and supply chains that will build resilience for the future.