It’s important to run a risk assessment of the entire supply chain, taking account of Global trends, as new measures in one country can have a domino effect on supply chains. These processes will also allow you to see where digitalisation programmes and specific digital solutions for procurement can be introduced as a way to resolve supply challenges/risks; for example, building a smart control tower to monitor supply chain risks. Invest in intelligent digital tools that leverage a variety of market data points to provide useful insights on upcoming supply risks, ensuring preventative measures can be taken before the risks materialise.
Mohamad Kaivan, Principal, INVERTO UK