The supply chain risk landscape is dynamic and ever-changing. No business is immune to disruptions in its supply chain. What matters, however, is how well it responds to such risks. Understanding the following 8 major supply chain risks can help reduce their impact and be better prepared to deal with them.
The ability to resist and recover from setbacks characterises a resilient supply chain. Businesses are attempting to achieve endurance in their operations to benefit from enhanced efficiency, productivity, and risk reduction. Here is how you can build a resilient and sustainable supply chain.
Packaging waste is one of the most common, and costliest, problems facing businesses looking to run leaner. According to the Supply Chain Solutions Center, due to poor product design and lack of political infrastructure, the majority of plastic waste is sent to landfills or disposed of into the environment. 9.2 billion tons of plastic have been produced, of which only 9 percent have been recycled properly.
In the majority of cases, a one-size-fits-all strategy to logistics is ineffective. Therefore, segmentation of the supply chain is required for a business to meet its consumers’ various service and cost requirements. For instance, one supply chain may be ideal for massive, bulky materials, while another may be appropriate for little parcels. Similarly, a supply chain different from that available to the general market may be required for highly demanding customers. There are numerous ways to segment supply chains, and this blog discusses three prevalent segmentation grounds.
Obtaining supply chain excellence in manufacturing is not as straightforward as it may appear. Recent industry trends such as globalisation, volatility in demand, supply chain instability, and internal misalignment make it more difficult for manufacturers to realise the full value of their supply networks.
Supply chain management’s capacity depends on the ability to change traditional functional practices to emphasize integrated process efficiency. Although companies are bursting with boundless excitement for supply chain management’s potential, little attention is paid to the challenging problems and risks associated with the supply chain.
Supply Chain is the network between various functions, individuals, entities, suppliers, manufacturers, and distributors. The supply chain incorporates the various steps and processes it takes to ship the product or service from its origin to its final destination.
Supply chain and logistics have become a vital part of every product-based company. Learn seven ways to manage your Supply Chain and make it more efficient and reliable.
Stockarea offers end-to-end supply chain services such as Warehousing, Freight Forwarding, Customs Clearance, and Transportation, acting as your logistics backbone. Let us take care of your complex supply chain so that you can focus on your core business.
