Navigating Supply Chain Resilience – Towards a Management Dashboard
The past two years have put Procurement into a constant task force mode, prompting many companies to reshape their supply chain processes and structures. The Procurement Initiative's Resilience Survey provides a tool for mapping the key challenges and capabilities in building supply chain resilience.
Building a Management Dashboard for Supply Chain Resilience
The past two years have put Procurement into a constant task force mode,prompting many companies to reshape their supply chain processes and structures.The Procurement Initiative's Resilience Survey provides a tool for mapping the key challenges and capabilities in building supply chain resilience. The insights offer a starting point to move from managing disruptions to rethinking supply chain operations.
- 20% of companies are in a state of excessive risk, meaning that they have a significantly higher likelihood of being negatively impacted by supply chain disruptions
- 59% of companies report resource limits as their biggest vulnerability. In particular, recruiting and retaining highly skilled workers and securing raw materials remain the top-ranking challenges
- 68% of companies rank financial stability (e.g., financial reserves, high margins) as the most important capability to weather the stormy market conditions
Companies are highlighting particular vulnerability to:
In the realm of supply chain resilience, simply knowing one's position is insufficient. Managers require actionable insights to enhance their strategies. Recognizing that each company thrives in a unique environment, we introduce the Supply Chain Resilience Dashboard to offer customized guidance for bolstering resilience while addressing specific needs and circumstances.
Understanding the current state of resilience based on our dashboard is a solid first step. However, to get to the next level and derive tailored recommendations for action, managers must consider three patterns going forward:
- Monitoring resilience capabilities and vulnerabilities over time to identify room for improvement and close existing gaps.
- Thinking cross-functional becomes key as single perspectives don’t paint the picture. Different stakeholder views need to be integrated into the resilience dashboard.
- Understanding company and industry specifics requires a fundamental examination of the underlying supply chain and capability priorities.
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