Building Supply Chain Resiliency with Richard Sharpe
Richard Sharpe and Joe Lynch discuss building supply chain resiliency. Because of the supply chain disruptions caused by the COVID 19, companies have a renewed interest in improving supply chain resiliency.
About Richard Sharpe
Richard Sharpe is the CEO of Competitive Insights, LLC. As an industry leader for the last 30 years, Richard is a frequent speaker at industry forums and a lecturer at Georgia Tech and is a founding member of the American Logistics Aid Network, a non-profit consortium serving Disaster Relief Agencies. Richard writes the DC Velocity blog on Analytics and Big Data. Formerly, President of CAPS Logistics, Inc., Richard leads the company which pioneered supply chain optimization solutions adopted by 15% of the Fortune 500 companies worldwide.
About Competitive Insights
Combining the power of supply chain expertise, data governance, and machine learning, Competitive Insights’ cloud-based solutions search, find and highlight opportunities to increase revenue, reduce costs, increase efficiency and continuously drive profitable performance. Competitive Insights transforms multiple data sources into an actionable database, creates Net Landed Cost to Serve and Net Landed Profit for customers, products, and channels, provides insights from advanced analytics that pinpoints areas that need prioritized attention and monitors to measure decision impacts. With over 20 years of supply chain and data analytics expertise, these solutions are accurate, trusted, agile, repeatable, and efficient.
About American Logistics Aid Network (ALAN)
American Logistics Aid Network (ALAN) is an industry-wide organization that exists to provide supply chain assistance to disaster relief organizations (and other non-profits). We do this by bringing the expertise and resources of the logistics industry together with non-profit disaster relief organizations so that we can help solve their most pressing supply chain challenges immediately after disasters strike. That way, help – and hope – arrive sooner.
Key Takeaways: Building Supply Chain Resiliency
- Supply chain resilience is the ability of a supply chain to both resist disruptions and recover operational capability after disruptions occur.
- COVID-19 has disrupted supply chains around the world and reminded supply chain professionals of the importance of building supply chain resiliency.
- While COVID is the latest crisis to disrupt supply chains, it is certainly not the last.
- Consumers, investors, governments, and communities may ultimately judge companies on how they respond to this period of disruption.
- As supply chains have become larger, more sophisticated, and global, there is a greater chance for disruption.
- There is a reactive and proactive element to building supply chain resiliency.
- There are 3 types of supply chain disruptions: geopolitical, commercial, and physical.
- Supply chain resiliency process begins with understanding where your supply chain is vulnerable to disruption.
- Once a supply chain vulnerability is identified, measures should be taken to minimize or eliminate the vulnerability.