Title: 7 Steps for Minimizing Supply Chain Disruptions + Prevention Tips
Headings: Combatting Ecommerce Supply Chain Disruptions and Steps You Can Take to Minimize Impact
Combatting Ecommerce Supply Chain Disruptions and Steps You Can Take to Minimize Impact
What is a Supply Chain Disruption?
5 Types of Supply Chain Disruptions
1. Pandemics.
2. Natural disasters.
3. Transportation failures and delays.
4. Product problems.
5. Price fluctuations.
6. Cyber attacks.
7 Tactics for Preparing for Supply Chain Disruptions
1. Create a supply chain emergency plan.
2. Build up inventory.
3. Conduct a supply chain vulnerability audit.
4. Identify backup suppliers.
5. Diversify supply base.
6. Partner with a logistics expert.
7. Adopt risk evaluation tools.
Steps to Take When a A Disruption Has Occurred
1. Communicate with customers.
2. Evaluate all critical components of the supply chain.
3. Estimate available inventory.
4. Assess buyer behaviors.
5. Optimize production and distribution capacity for safety.
6. Identify logistics flexibilities.
7. Evaluate cash flow impact.
Conclusion
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Content: Supply chain disruptions create scary and uncertain times for businesses and consumers alike. They also draw attention to our supply chain dependencies that we are otherwise not aware of when everything is operating like a well-oiled machine. Sometimes these disruptions are small and localized, and may affect only a few businesses or industries. Other times they are globally felt, especially when the hard hit region is a source of a diverse range of supplies, as with many Asian markets. The COVID-19 global pandemic has caused a major upheaval in the supply chains of many businesses in the United States and North America. In a study conducted by the Institute for Supply Management, almost 75% of the 628 businesses surveyed had experienced supply chain disruptions as a result of the COVID-19 outbreak. In this same survey, 57% of respondents said they were facing longer lead times for orders with suppliers in China. Dr. Bob Novack, Associate Professor of Business Logistics at Penn State explains, “ This pandemic is like a natural disaster, but it’s also not. The results of a natural disaster on the supply chain are usually localized and short-lived. In a pandemic it’s global.