Rules for your Company to Consider in Order to Anticipate the Next Supply Chain Crisis

Businesses should have a plan for shortages when a supply chain breaks down, since more than 70% of procurement managers are saying that current supplier channel data has not improved enough to anticipate future disruptions.

So, it’s no doubt that up-to-date data is key to making good decisions when a supply chain breaks down.

And, of course another key is knowing what you specialize in and being open to sourcing from a diverse set suppliers. This is a critical part of any contingency plan – whether your company works with a few suppliers or a few thousand suppliers. Thirty percent of procurement leaders fear they are missing out on supplier innovation as a result of failing to diversify supplier lists. 

Diversify - sourcing diverse suppliers should become an integral part of any contingency plan you choose to build. 

Plus, you should map out your supply chain so that you are clear on the details - with a plan that includes the locations of your suppliers’ factories (e.g.  if they are located in areas that could be hit by natural disasters, political changes, etc).

Our goal at SpaceBound Solutions since our founding in 1987 and during this supply chain disruption, that will go well into 2022 and beyond is to ensure we are your trusted source for products. Call our team today to ask about ways we can source the products you need.

Visit SpaceBound Solution today to set up a call:
https://www.spaceboundsolutions.com/ContentPage/134

Story via SupplyChainBrain.com