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How manufacturers can future-proof their supply chains

In this episode, Sven Dharmani shares his insights on how to build a more resilient supply chain during the COVID-19 pandemic and beyond.

Over the years, companies have committed to cost-effective, just-in-time supply chains. This lean and linear approach has been a successful strategy for limiting inventory and minimizing working capital. But as the erratic demand and unprecedented disruption from the COVID-19 pandemic take their toll, the lack of resiliency of modern supply chains is coming into greater focus. Granted, the current pandemic is one of the more extreme examples of disruption in recent history, it certainly isn’t the first and is unlikely to be the last. How can manufacturers reinvent supply chains that can flex under pressure without a total loss of cost-effectiveness? Further, how can they gain greater visibility to better anticipate and plan for the next disruptive event?

Key takeaways:

  • Most traditional and modern supply chains do not have the capability to be very resilient or flex with a major disruption due to their linear nature.
  • To build supply chain resiliency, manufactures should think through all the scenarios that can happen, review business continuity plans, look at just-in-time models, perform stress tests, and conduct an annual risk mitigation plan and review.
  • Digital process mining and digital twins are powerful technology tools that can visualize the effects of disruptive events such as the COVID-19 pandemic, and therefore help companies come up with contingency plans and achieve business continuity.

For your convenience, full text transcript of this podcast is also available. Read the transcript.

Presenters

Sven Dharmani
EY Global Advanced Manufacturing & Mobility Supply Chain Leader

Podcast

Episode 04

Duration 11m 40s

In this series

series overview
(Event List - Manual)

How manufacturers can future-proof their supply chains

In this episode, Sven Dharmani shares his insights on how to build a more resilient supply chain during the COVID-19 pandemic and beyond.
Podcast

Episode 04

Duration
11m 40s

Presenters

Sven Dharmani

EY Global Advanced Manufacturing & Mobility Supply Chain Leader

How transportation will be revolutionized by data analytics

In this episode, Kevin Custis shares his insights on the impact the COVID-19 pandemic has had on the transportation sector.
Podcast

Episode 03

Duration
17m 32s

Presenters

Kevin R. Custis

EY Global Transportation Industry Leader

How to build a resilient automotive supply chain to plan for the next crisis

In this episode, David Sanders shares his insights on the impact the COVID-19 pandemic has had on automotive supply chains.
Podcast

Episode 02

Duration
10m 39s

Presenters

How manufacturing can improve resilience through liquidity management

In this episode, David Gale shares his insights on liquidity for the manufacturing industry during the COVID-19 pandemic.
Podcast

Episode 01

Duration
04m 22s

Presenters

David M. Gale

EY Global Advanced Manufacturing Strategy and Transactions Leader