Nowadays you cannot go online looking for expert opinions or advice on optimizing your supply chain without being advised to get insight in your whole supply chain, beyond tier one and two. Recent developments have uncovered vulnerabilities in supply chains, where some chains have been too dependent on one region, country or facility.
Deloitte pointed out that more than 200 of the Fortune Global 500 firms have a presence in Wuhan. While it is understandable that companies may limit procurement to certain areas for reasons of cost and efficiency, it is now clearer than ever that a supply chain can be disrupted by forces that cannot be foreseen.
Build resilience into supply chains
All experts and advisors align in giving the advice to map and understand your supplier network, and to prepare yourself for the next shock wave. After years of optimizing supply chains, making them more cost efficient and lean, it is now time to build resilience into supply chains as well. Like many advisors, ChainPoint is also in agreement with this sentiment and we are here to help you get started. We know that even though companies have made their supply chains as efficient as possible, there are still a lot of unknown factors in supply chains that remain hidden deep in a chain’s underlying tiers.
To help you unravel your supply chain, we have created a ready to use platform called Supplier Insight. This platform focusses on data security, user friendliness, added value for all actors and speed. Supplier Insight helps you build resilience into your supply chain.
- Data Security: using ChainPoint’s advanced security technology that has been in the market since 2003, you can be assured that supply chain data is only accessible for those who are authorised to access it
- User friendliness: during recent weeks many businesses have been overwhelmed with just the issue alone of assuring continuity in their chains. But supplier fatigue is something you absolutely want to avoid. You do not need (nor want) to ask all suppliers the same questions time and again. An IT solution where you can quickly and easily create questionnaires and decide who should answer which questions helps save you time while providing you with the supply chain information you need.
- Added value: not all suppliers are comfortable revealing who they source from. But bringing suppliers into a platform like Supplier Insight gives your suppliers the added value of making their own operations more efficient and resilient, too. In addition, explaining to suppliers how the information they provide will be used (and more importantly that it won’t be misused) can help bring suppliers on board.
- Speed: how helpful would it have been to completely have insight in your supplier network and have a back-up plan for supply chain disruptions? The answer is of course obvious, but it’s never too late to start getting insight into your supply chain so that you are prepared for new situations to come. Supplier Insight makes it as simple as creating your first questionnaires, sending them to your suppliers, and getting information back quickly so you can identity weak spots in your supply chain.
The possibility to get in touch with your supplier network through a platform that is set up by a company with a lot of experience helping organisations facing the same issues is something that can give you the tools you need to get control and manage your vulnerability.
Please get in touch with us to get a demo and understand the way the platform can add value for you.