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Resilience by Design: The Power of Simulation in Supply Chain Strategy

Logistics Viewpoints

Optimal sourcing plant is different for different periods A baseline optimization model shows that depending on the period (month), the optimal sourcing location varies. While this sourcing strategy is the most cost-effective one, the business might not want to operate like that. In scenario #1 the horizon is 12 months.

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Global Supply Chains — A Source of Strength

Enterra Insights

3] Following year-long discussions about supply chain resilience, the Economist reminds us, “Resilience comes not from autarky but from diverse sources of supply.”[4] 2] Costas Paris, Parmy Olson, and Sarah McFarlane, “ Ship Stuck in Suez Canal Heightens Pressure on Global Supply Chain ,” The Wall Street Journal, 24 March 2021. [3]

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7 Supply Chain Transformations at SAMSUNG

Supply Chain Opz

So they implement a very comprehensive risk management system and their risk mitigation strategies are low inventory level, flexible capacity and redundant suppliers. This also enables them to manage product quality more effectively due to the ease of control. 7) Establish Risk Management System : they realize that risks are the fact of life.

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100+ Supply Chain Crisis Statistics: Raw Materials, Covid-19, Labor Shortages, and More

ToolsGroup

Such measures include communicating with suppliers and customers , using demand shaping to overcome inventory shortages, seeking additional suppliers, and building more onshore facilities. 28% of global retailers have tried to find alternative sourcing options due to supply chain issues (RetailNext, 2020). Source: Consultancy.UK.

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The Absolut Company: Balancing Service and Inventory Creates a Delicious Mix

ToolsGroup

A recent feature in The Wall Street Journal highlighted how Absolut’s modern approach to supply chain planning balances nicely with the company’s traditional production practices. That’s also allowing Absolut to keep its production, from sourcing materials to distilling and bottling, anchored in a small corner of southern Sweden.”

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Save The Supply Chain Leader From Groupthink

Supply Chain Shaman

Inventory Is an Egregious Symptom of Supply Chains Gone Wrong. Today, inventory fire sales abound. Headline news included Wal-Mart, Target, Kohl’s and Macy’s struggling with inventory bloat and offering deep discounts. Wall Street Journal Headline on Retailers Using Containers to Store Excess Inventories.

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Ultimate Guide To Technologies That Are Transforming Supply Chains

The Logistics & Supply Chain Management Society

IoT supports operational efficiencies in areas such as asset tracking, inventory management and forecasting, improving productivity and aiding decision-making across the supply chain. Should supply chain delays occur, companies can more easily identify the source of bottlenecks and take action to improve processes.