How can technology help you in identifying and responding to disruptions in your supply chain?
We are all experiencing a 1 in 100-year event that has affected every aspect of our life, personal and professional: COVID -19. Do not let this crisis demolish your Supply Chain! Risk planning is very crucial in business. Events will continue to happen. Will your company be ready to face the possible risk from the next unexpected crisis?
“The reality is that Digital Transformation is not an option anymore. Technology is something that everybody needs to adopt and for good or bad COVID-19 made companies aware that they need to accelerate certain decisions.” – Tomas Fertig, President and CEO of Seidor USA
President and CEO of Seidor USA, Tomas Fertig, hosted a Supply Chain Risk Planning Technology Webinar Session to provide businesses with the keys to stay successful during unprecedented times.
How to Prepare
1. Analyze the types of risks – list out events and determine on a scale how probable and frequent they are so you know what to watch out for and expect.
2. Develop a risk mitigation plan specific for each event – Your core business process must be fully understood in time of crisis. Communication with the right data and tools is key. Businesses need to know what to do for each event and what to look for. This response plan will keep you company prepared for anything. Adaptability leads to companies’ survival.
3. Process Assessment – Identify all forces that may come with a crisis, like government regulations (example: currently we are under a stay at home order), technology impactors, and what changes to watch and monitor during the crisis.
What to Expect After
You can expect this event to happen again! Be prepared and include what happen in the risk mitigation plan so the next time there can be discussion on what the outcome may be for the next disruption.
When the people, technology, and process are all strategized to work together, YOUR COMPANY WILL WIN, in any event.