In today's business landscape, a consistent and reliable supply of goods and services is paramount for success. Supplier resilience and agility have emerged as critical attributes, enabling businesses to navigate disruptions, seize opportunities, and maintain a competitive edge. This two-part article delves into their significance, shedding light on pivotal strategies necessary for thriving in a dynamic environment.
Nonprofits play a vital role in the community, and while numerous business aspects require leadership attention, the supply chain is equally vital to ensure that the community can continue to benefit. In a 2020 Gartner survey of over 1,300 supply chain professionals, 87% plan investments in supply chain resilience within two years. Similarly, 89% emphasize investment in agility. Reflecting on the past, assessing the efficacy of supply chain investments is prudent. Looking back over the past few years, do you feel you have made the right investments in your supply chain? Consider three core areas:
Collaborative relationships between businesses and suppliers are instrumental in attaining supplier resilience and agility. Built on trust and transparency, these partnerships enable effective communication and joint problem-solving. Such alliances facilitate contingency planning and rapid adaptation during crises, minimizing disruptions.
The first part of this article looked at the foundational concepts of supplier resilience and agility. Supplier resilience forms the bedrock for a stable supply chain, while supplier agility empowers stability amidst uncertainty. Embracing technology through digital transformation is vital to harnessing data and automation for informed decisions and risk management. The significance of collective efforts in building a resilient and agile supplier network through supply chain diversification and collaboration was highlighted. The focus will shift in the second article to explore the impact of Amazon Business on supplier resilience and agility.
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