The Oracle Live: Cloud Applications event highlighted the supply chain function due in part to the extensive supply chain disruptions caused by the global coronavirus pandemic. A key premise, global supply chains have depended on a certain level of predictability that is no longer available. This requires a multidimensional value framework that places increased emphasis on supply alternatives, risk exposure, tariffs, and channel complexity.
Supply chain modeling is essential to substantiated resiliency analysis and to the planning of risk responses. A supply chain model is the digital representation of the structure, product flows and policies of a physical supply chain. It is created by transforming data into predetermined structures, so that such data templates can be used in conjunction with mathematical algorithms, to determine improved future state structures, product flows and policies. Here’s a look at four areas of risk that can businesses can address through modeling and analytics.
Workers across many industries don’t feel safe during this pandemic. Autonomous mobile robots emitting UV light can help kill COVID-19 microbes and keep workers safe.
Because of the pandemic, risk management surrounding sourcing has become top of mind. One best practice in this area is to identify and qualify alternate suppliers. Companies need to ensure they have alternate sources of supply that can ramp up to the volumes needed. This best practice urges companies to examine not just the cost of the sourced products, but also to understand the risks associated with not multi-sourcing key components.
AGCO is a supply chain success story. This is the inside story of AGCO’s response to the pandemic and how they developed such an agile supply chain. Agility does not just happen. This global manufacturer of agricultural equipment began their journey to improved supply chain resiliency in 2004.
Start making your contingency plans for coronavirus immediately. Here are 20 things to keep in mind.