The disruptions of the last year have left no doubt about the acute need for supply chain diversification, but supply chain leaders must learn to balance this objective against other critical goals, such as cost-efficiency.
Regardless of the motivating factor, making significant changes to how supply chains operate is a tricky and expensive proposition. Managing the transition from “just-in-time” supply chains back to the days of inventory is not going to be easy, yet the need for supply chain resilience supersedes all.
Pramod Gupta, vice president of supply chain consulting at GEP, joined global supply chain leaders from Fortune 500 companies at The Economist’s Global Trade Virtual Week 2021. Watch them discuss how to balance cost-efficient, “just-in-time” supply chains with diversification and de-risking — all to improve resilience ahead of the next major disruption.
Key Discussion Points:
- What is the optimal approach for supply chain organizations?
- How are trading partners managing increased credit risk?
- Is supply chain diversification even possible for some industries?