What is needed for today’s VUCA (volatile, uncertain, complex, and ambiguious) world is a supply chain that is both responsive and agile
It is an indisputable fact that supply chains across the world were significantly disrupted by the pandemic. The interruption was across industries, magnified due to the global footprint of supply chains today. It was the chaos from this disruption that spilled into the day to day lives of people across the world, making them cognizant about the importance of supply chains. Among all the chaos due to these disruptions, we repeatedly heard the cry for building resiliency with our supply chains.
Is Building a Resilient Supply Chain Enough
Resilience in a business context is not a new concept. An analysis of businesses that have survived and thrived during peaks and troughs will tell you that the ability of an organization to successfully confront the unforeseen has always been a core element of success. If we formalize the definition of resiliency in supply chain context, it refers to the ability of a supply chain to bounce back when hit by an unforeseen event.
The threat scenarios that supply chains face today are greater than ever, which has led to the concept of building resilience within supply chain becoming more critical. As Supply Chain leaders work to understand what exactly they need to do to build resilient supply chains, there is one question that they need to ponder upon – is resiliency itself enough to handle supply chain disruptions? SAPinsider recently had an opportunity to discuss this topic with solution experts and thought leaders from Reveal supply chain solutions and get their perspectives on why supply chain leaders need to think beyond resiliency.