The impact of COVID-19 on global supply chains is severe. Labor availability issues, shortages of input materials, and limited logistics services are forcing supply chain leaders to continually revise their short-term tactical plans. This disruption will be felt for months and will force many organizations to downgrade their growth outlooks.
And yet resilient supply chains will overcome these issues and enable organizations to recover (whatever U, V, or W shape that recovery takes). When the disruption fades, agile supply chains will return to doing what they do best – meeting customer demand at the right price, in the right quantity, at the right time to gain market share.
But the strength of a supply chain is only as good as its weakest link. Organizations must use the current disruption as an opportunity to assess how well its supply chain functions and components can support its recovery and better respond to future disruptions.
My recent blog covered the short-term challenges that supply chains are experiencing. Here, I'll look at four ways that companies can start to evaluate the strength of their end-to-end supply chains: