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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Susan Meyer
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Content: 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. It’s the rapid increase in demand that a pandemic creates that puts additional strain on suppliers. ” In this article, we’ll look at common causes of disruptions, some of the ways you can prepare for disruptions you are currently facing, and how to create a plan to better manage your supply chain risk management in the future. What is a Supply Chain Disruption? A supply chain is a network of people, organizations, and activities that move a product from a supplier to a final customer. A supply chain disruption is any sudden change or crisis—be it local or global—that negatively impacts that process.