Tuesday, 22 April 2014

Risk Management Tips your Supply Chain

Supply chain vulnerabilities can put the whole operations at risk but despite knowing this fact, many organisations fail to analyse the situation or put plans in place to protect their bottom line. By using excellent management techniques, it may help will keep your supply chain flowing during disruption.

  1. Learn to recognize and analyse your current operation risks. 
  2. Develop contingency plans to overcome any possible operations disruption by using “what if” scenarios.  
  3. Reduce risk of delays by implementing various transportation plans options.
  4. Your plans need to be constantly checked and updated.
  5. Perfecting your inventory guidelines and level will help your company achieve better bottom line profitability while sustaining your company.
  6. Work closely with your trading partners and share information through the use of technology to reduce costs and errors.
  7. Secure a diverse supplier list and use vendors that can distribute through secondary ports from different regions.
  8. Control your logistic processes – globally source products when it makes economic sense and take ownership of the supply and delivery processes.
  9. Partner with customers, logistics providers and suppliers to reduce disruptions.
  10. Adapt process flexibility to help manage and respond quickly to any supply or demand changes.
Image: Stuart Miles/FreeDigitalPhotos.net 

No comments:

Post a Comment