New Directions in Supply Chain Management: Talk Takeaways

  • Big data analysis of cost saving strategies, strategic sourcing, and streamlining was in place before COVID-19. The pandemic has significantly increased its use for supply assurance and reliability.
  • A discussion of reshoring that existed prior to the pandemic is now heightened, and will continue as companies try to balance assurance and security issues with the cost of manufacturing at home.
  • Pandemic-based shortages have increased concern about supply assurance and supply chain vulnerability. These will continue to be top priorities moving forward.
  • Government and industry collaboration has increased to speed approvals and deliver innovations. While this enhanced collaboration will likely continue, a key challenge will be to speed processes while maintaining standards for safety and effectiveness.
  • Supply chain stability means steadily assessing and managing risk. Leaders should monitor data continually to understand their exposure and respond accordingly. Risk assessment must translate into actions that support key suppliers, mitigate sole-source exposure, address transportation challenges, etc.
  • Companies should leverage innovations in digital communication to trim costs and minimize risk. Rethinking the need for brick-and-mortar facilities, in-person work policies, and travel for meetings can enhance competitiveness.

--

--

--

McCombs Center for Global Business develops and supports internationalization and global business education. Visit us at www.mccombs.utexas.edu/CGB for more.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

How Your Company Can Solve Delivery Challenges By Adopting Last Mile Transportation Software

Afghanistan to Chicago In the Business of Food! w/ Heray Spice | [Interview]

VISA to buy Tink for $2.1 billion

A photo of the Co-Founders of Tink, Daniel Kjellén and Fredrik Hedberg.

Elm Analytics — Automotive Supply Chain Risk Digest #279 — June 10–16, 2022

Elm Analytics — Automotive Supply Chain Risk Digest #272 — April 22–28, 2022

Providence, R.I. Selected for Next Aurelius Coworks Community

Making the Unknown Safe for Your Customers and for You — How to Grow and Not to Be Ahead of Your…

Global Dental Radiography Market: An Emerging Market for Oral Health Solutions

Dental Radiography Market

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
CGB News & Insights

CGB News & Insights

McCombs Center for Global Business develops and supports internationalization and global business education. Visit us at www.mccombs.utexas.edu/CGB for more.

More from Medium

CSO — yes or no?

A system to put problems in perspective

Sustainability Spotlight: Anian