What are some effective strategies for supply chain resilience?

What are some effective strategies for supply chain resilience?

Some effective strategies include diversifying suppliers, investing in technology, and enhancing inventory management.

Can you explain how technology can improve supply chain resilience?

Technology can improve resilience by providing real-time data, enabling better forecasting, and automating processes.

What role does risk management play in supply chain resilience?

Risk management helps identify potential disruptions and develop contingency plans to mitigate their impact.

Are there specific industries that need to focus more on supply chain resilience?

Yes, industries like healthcare, food and beverage, and manufacturing often face unique challenges that require strong resilience.

How can companies measure the effectiveness of their supply chain resilience strategies?

Companies can measure effectiveness through key performance indicators (KPIs) such as lead time, inventory turnover, and customer satisfaction.