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The world may be calmer, but supply chain disruptions are still a looming risk. But how do you increase resilience before the next storm? 🌪️ Geopolitical tensions, shifting demands, and unforeseen events can strike at any time. The key to navigating these challenges is supply chain resilience—and it’s not just a buzzword. My latest article explores how to build resilience along three dimensions: 𝗿𝗲𝗱𝘂𝗻𝗱𝗮𝗻𝗰𝘆, 𝗳𝗹𝗲𝘅𝗶𝗯𝗶𝗹𝗶𝘁𝘆, and 𝗿𝗲𝗮𝗱𝗶𝗻𝗲𝘀𝘀. From sourcing to distribution, learn how companies can stay ahead of disruptions by: 1️⃣ Building strategic redundancies 2️⃣ Increasing flexibility across processes and products 3️⃣Preparing your workforce and risk management systems With dark clouds on the horizon, now is the time to strengthen your supply chain to ensure business continuity and minimize impact - don’t be caught in the rain without an umbrella! ☔️ 👉 Read the full article to learn how: https://lnkd.in/dqYSdRdk #SupplyChainResilience #RiskManagement #BusinessContinuity #SupplyChainStrategy #Agility #Flexibility

Managing Risk - Building Resilience - Embracing Digitization. Governance exposure to boards continues to rise as supply chains remain vulnerable to disruption, and gaps in board knowledge around evolving and emerging supply chain exposures often fails to keep pace with the rate of change in risk. Organizational risk maturity must be continuously challenged to build resilience, identify gaps in knowledge and to update processes where digitization and data management can support risk mitigation efforts. Organizations can improve governance and board-level responsibilities by proactively understanding and overseeing supply chain risk management to safeguard the organization's interest. Best practices include: 1. Regular Risk Assessment - conducting routine risk assessment for critical suppliers and regions 2. Supply Chain Mapping and Monitoring - ensuring clear visibility into all tiers of the supply chain 3. Crisis Management Plans - developing and regularly reviewing crisis management and disaster recovery plans 4.Setting ESG Standards - defining and enforcing ESG standards for certain suppliers, with a strong audit and compliance mechanisms 5. Training and Communication - educating board members and executives on current and emerging supply chain risks and ensuring alignment of response strategies Supply chain risk will continue to evolve and increase in complexity, as natural disasters, weather-related climate risk and geo-political challenges continue to challenge organizations and their leadership teams. The board's role in mitigating and responding to these risks will continue to expand, further emphasizing the need for informed oversight and pro-active enterprise-level risk management strategies. #supplychainrisk #governancerisk #buildingriskresilience

🌍 Strengthen Your Supply Chain Resilience Today! 🌍 Is your supply chain prepared to handle disruptions? Discover the essential 5-step approach to build a resilient, efficient, and profitable supply chain. From identifying strategic objectives to tracking risk management warning signs, we've got you covered! Key benefits include: 🔹 Enhanced customer service 🔹 Increased market share 🔹 Improved financial performance more: https://lnkd.in/ekc2ibxK Join leading organizations in the Caribbean and globally by adopting these strategies to ensure your supply chain is robust and adaptable. 🚀 Dive Deeper: https://dawgen.global 📧 Connect with Us: info@dawgen.global 📞 Caribbean Office: 1 876 929 3670 📞 USA Office: +1 786 673 3120 📱 WhatsApp Global: +1 876 554 4445 #SupplyChainResilience #RiskManagement #SupplyChainStrategy #GlobalSupplyChain #SupplyChainOptimization #DawgenGlobal #CaribbeanBusiness #Jamaica

Organizations are investing in supply chain resilience due to global disruptions and regulatory changes. Initiatives include supplier relationship management, network harmonization, risk management, and supply chain visibility. Challenges like information flow, collaboration, and conflicting KPIs require a globally led Risk Control Tower for proactive risk management. Sharing an article by me on driving Resilience in Supply Chains. https://lnkd.in/g6BswJEB #SupplyChain #ETNow

Check out this new article on SupplyChains Magazine: Elevating Supply Chain Risks: A Boardroom Priority in the New Business Landscape https://lnkd.in/dEDQFa9u

42% of procurement leaders see supply disruptions as a top concern, citing natural disasters and transportation issues as critical risks to success. The unpredictability, speed, and impact of these disruptions drive this focus. How do you manage, monitor, and oversee your suppliers? #procurement #governance Neo Group Supply Wisdom Gartner SIG|ORG IAOP Shared Assessments Board Risk Committee

The recent Gartner survey highlights that supply disruption is the leading concern among procurement leaders, emphasizing its potential to impact procurement's future success. Conducted between June and July 2024, the survey gathered insights from 258 sourcing and procurement leaders. It serves as a strategic guide for chief procurement officers (CPOs) to prioritize and manage emerging risks in today’s increasingly volatile supply chain environment. This focus on supply disruption aligns with broader industry concerns, as businesses grapple with challenges like geopolitical tensions, climate-related events, and economic uncertainties. These factors can destabilize supply chains, making resilience a top priority for procurement leaders looking to mitigate risk and maintain operational continuity. The findings underscore the importance of proactive risk management strategies, such as supplier diversification, inventory optimization, and advanced analytics, to safeguard procurement and supply chain functions.

This recent piece from James Gherardi at BIE raises several good points, amongst them the fact that an attempt to manage for every risk is not feasible. Unfortunately, many of the tactics that build resilience likewise offer cost challenges making a supply chain professional's job that much more complex. Your thoughts? #resilience #riskmanagement #supllychain #strategy https://lnkd.in/d7XajT77

What impact is disruption and diversification having on supply chains as organisations go through their resilience journey? Working with Omera Khan, we drew on research from our recent supply chain survey to explore supply chain risk in our four-part series. Part two explores: -  The resilience required for disruption -  The impact of flexibility and redundancy -  How to spread and manage risk Read part two to find out more - https://bit.ly/4aKGPBE

Check out this new article on SupplyChains Magazine: Elevating Supply Chain Risks: A Boardroom Priority in the New Business Landscape https://lnkd.in/dEDQFa9u