Executive Insight: Creating a Digitally Resilient Supply Chain

By: Dhaval Buch, CEO, Bristlecone

Nobody wants a crisis, but the reality is that every crisis has its opportunity.

Every company, at some point during this crisis, has undoubtedly realized the criticality that if you can’t supply your product, you don’t have a business. This crisis has allowed us to see, very specifically and very clearly, what is actually important for business, and what is actually required from the supply chain in order to ensure that continuity is maintained for product supply and managing demand in a volatile market – all the time. I think business leaders around the world have a unique opportunity to grasp this moment of crisis and use the learnings from it to accelerate the digitization of their supply chain.

This video series, consisting of nine easily consumable videos, is part of a recent keynote I gave, during which I shared insights into the changing trends in supply chain, the digital future and what businesses need to do to embrace this new normal.

1

Key Components of a Supply Chain

The supply chain is plan, source, make and deliver – or planning, procurement, manufacturing and logistics – and the various workflows and relationships between those four key processes.

2

Develop a Supply Chain War Room – Respond Now and Respond Swiftly

A supply chain war room is a critical necessity today, so it’s important to start there; then as we emerge from this crisis, that war room transforms into a control tower, driving resilience and agility.

3

Collaborate Seamlessly to Create Limitless Capabilities

We’re currently facing a lot of unknowns. Deep collaboration and the elimination of siloes can ease the burden of a crisis – and collaboration is even more empowering in times of stability.

4

Supplier Visibility is Critical – Know as Much as Possible

The ability to stabilize production during a crisis may depend on how well you know your suppliers; real-time insight allows for ease of navigation and quick resolution to any production issues.

5

Cash is the Key Determinant to Success – Supply Chains are No Different

Cash is the best way to ensure that the system stays lubricated for the supply chain to run, so it’s critical not only to have cash but also to know the cash position of your top suppliers at all times.

6

Our New Normal in the Connected World – Employee Motivation, Virtual Workspaces, Supplier Relationships and Logistics

This crisis has forced us to experience a new way of working, which could be very good in the long run. Connectivity has made things possible that wouldn’t have seemed possible before COVID-19.

7

Automation Technologies – Now Positioned to See Large-Scale Adoption

Social distancing is easier for some businesses than others – more difficult for manufacturing, for example. It’s a great time to review infrastructure and consider how automation may fulfill a need.

8

Survival of the Resilient – Greater Need for Businesses to Solve Problems Together

COVID-19 has redefined disruption – and brought resilience back to the table like nothing else ever has. But it’s not about material resilience or product resilience. It’s about business resilience.

9

New Buying Behaviors will Drive New Business Models – Digital Relationships Present Supply Chain Opportunities

Some industries are accustomed to rapid changes in buying behavior, but what we’re seeing now is a consumer risk aversion that’s forcing businesses everywhere to rethink their business model.