Supply chain resilience is the ability of a supply chain network to withstand disruption and minimize the effects of upheaval on revenues, costs and customers. Not only do resilient supply chains help enterprises respond swiftly and effectively to radical economic, technological and market changes, but they also help enterprises gain a competitive advantage.
Supply chain resilience is emerging as a competitive differentiator, but it requires a fundamental shift in the approach to collaboration. Partners must create an ecosystem to more easily connect and exchange information and to enable better choices and decisions. Supply chains need to be transparent to facilitate real improvement and achieve true resilience.
However, the more resilient a supply chain is, the more complex it becomes. As global companies expand their supply sources and broaden their supply networks, they must strike a new balance between flexibility and efficiency. Read more to learn about GEP’s supply chain management software and supply chain management services.