In the past year, the global pandemic, economic disruption and broad shifts in consumer behavior caused a domino effect of supply gaps that exposed long-standing vulnerabilities in our supply chain.
Despite the need for better supply chain management, business leaders have been slow to act, having for years chosen efficiency over resilience. In Forbes’ 2021 CxO Growth Survey, C-suite respondents ranked “revising supply chain strategy” as a low priority. Delaying action, however, can expose supply chains to serious financial risks and prevent companies from seizing the benefits of resilience.
While massive shifts in consumer behavior brought on by the pandemic have uncovered a large gap in our supply chain, it has also created an opportunity for IT leaders to identify areas where they can improve.
A connected and resilient supply chain helps you respond to changing demands without impacting production. It also ensures the cost of production and delivery is consistent and predictable.
At HSO, we suggest the following actions to ensure supply chain resiliency:
Analyzing how your existing supply chain works, the strength of your supplier relationships and how much is impacted by internal versus external resources
Identifying where workforce gaps exist along the supply chain and where they can be better filled and retained
Investing in new R&D andtechnologyto connect your finance, sales and operations systems, and develop opportunities for innovation
Building smarter maintenanceand machine learning models to maximize equipment uptime, quality and efficiency and product life
In order to facilitate these improvements, you need two things as a foundation: a responsive, connected technology system and a strong supplier relationship strategy.
A responsive and connected technology system allows you to quickly scale the production from new or existing suppliers up or down. If your systems are disconnected, it can leave parts of the business working at cross purposes. Often, a lack of consistency and standards, or of a systemized approach for your operations is at the heart of the problem.
In the case of supplier onboarding, it’s not uncommon for new supplier approval to take weeks, or even months. The traditional RFQ process is an extensive task and you need suppliers to meet your needs and standards. Yet once approved, it can still be a manual process to monitor supplier standards.
Balancing Speed and Quality
The agile manufacturer requires speed, control, and the ability to turn the taps of your supply chain on and off. But how can you achieve speed without compromising quality? Automating your supplier management, finance and production processes is one way and manufacturing technologies such as Microsoft Dynamics 365 provide the complete platform to do this.
With a secure, cloud-based platform that you can trust, Microsoft Dynamics 365is paving the way for manufacturers to strengthen and innovate in a rapidly changing economic climate. By providing organizations of all sizes with the right tools to manage their supply chain, finances and operations, along with support for customer relationships from a single application, you can gain complete control and full visibility across all areas of your business.
Improve Your Manufacturing Business with Microsoft Dynamics 365
Learn more about HSO for Manufacturingand how we’re helping businesses like yours with award-winning Microsoft technologies, like:
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies. However you may visit Cookie Settings to provide a controlled consent.
This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.