This is a volatile world. Whether by a freak accident, natural disaster, trade war, or health crisis, extraordinary circumstances can wreak unforeseen havoc on supply chains. In fact, over the past year, 94% of Fortune 1000 companies have endured disruptions to their supply chains amid unpredictable circumstances—and 75% have suffered a negative or severely negative impact on business as a result.
It’s more important than ever for shippers to strengthen their supply chains to protect against circumstances beyond their control. If you don’t take steps now, there may not be a later. Here are some ideas to get started.
Do more with data
In most supply chains, visibility is limited at best. But the more visibility a shipper can gain, the more flexible and responsive their supply chain can be, increasing their ability to handle unforeseen shocks to the system.
True visibility encompasses both on-the-ground information and big-picture insight. With real-time shipping data, for example, shippers can track the movement of freight, quickly alerting them to any delays or disruptions that may signal bigger issues down the line. But they also need global oversight in order to recognize patterns, opportunities, and problems on the horizon. Wielded effectively, the result of all this data is better forecasting, demand planning, and contingency planning, putting companies in a better shape to prepare for and navigate any curveball or crisis.
Enter the cloud
Reliance on paper contracts, physical record-keeping, and on-premise systems can be a major hurdle in a crisis, especially when time is of the essence. Should an unforeseen event make the facility unreachable or leave supply chain managers needing access from afar, cloud-based solutions can help keep things running as smoothly as possible.
These tools are valuable even in times of normality. When staff can pull up vital information in moments without having to dig through a filing cabinet, they can work more efficiently and with less friction. And when information isn’t confined to paper, everything from auditing to ongoing analysis becomes much easier.
Look to the experts
Supply chain managers are under immense pressure to do more with less. With fewer resources and more demands on their time, keeping up with new developments, best practices, innovations, and technological advancements is a near-impossible task. Unfortunately, this can leave teams operating under outdated assumptions and with less-than-optimal tools, making their supply chain more vulnerable.
Instead of struggling to keep their head above water, supply chain managers can grab a life preserver by tapping an expert like CTSI-Global. We spend every day looking for ways to make our partners’ supply chains stronger—from developing the latest in logistics software to identifying new methods for bolstering transparency and resiliency. That way, teams can remain on the forefront of supply chain management, impressing leaders while ensuring they’re ready for whatever the world throws at them.
Build a more resilient supply chain today
Building resilience shouldn’t be something on your to-do list. To survive and thrive in an increasingly volatile world, ongoing and intentional efforts to bolster resilience are essential. You may not get a second chance.
At CTSI-Global, we know that maintaining a strong supply chain is key to your business’s success. That’s why we’re committed to helping shippers find the solutions they need to ensure their supply chain can weather any storm—from leading-edge logistics technology to expert advice and support.
Don’t wait until tomorrow. Get in touch today.