Supply chain strategies need frequent tweaking. Today’s business world is filled with complexity and risks, and attention, analysis and agility are common ways to adapt to a changing environment.
But many executives tell us that they don’t even know where to start when it comes to adapting and refining their supply chain and risk management practices. They are confronted with too many pulls and tugs in different directions to understand the full value of what’s at stake.
As 2015 rounds the corner, Resilinc has a few ideas of where you can refocus. Here are three things you may not be doing, but could be doing right now to get more from your risk management strategy.
1. Integrate Your SCM and SCRM Strategies
2. Move Beyond Excel Spreadsheets
3. Leverage Risk Management to Create Competitive Advantages
As we noted, supply chain management and risk management are no longer polar opposites, and you can use your risk management approach to create competitive supply chain and financial advantages. With these facets moving closely together, you can begin to reshape the competitive benefits being reaped from your supply chain and risk management strategies. A comprehensive and decentralized supply chain risk management solution opens the door for greater supply chain visibility, which in turn, could improve top and bottom line financial results. Having a better handle on risks and supply chain events also provides insights into crisis situations, failure points and planning alternatives, which, when combined, leads to quicker recovery time and gives you a jump over your competition.
Ready to make some strategy tweaks and adapt to whatever 2015 brings? Take a look at what supply chain risk management strategy could do for you.