While lean production has become a cornerstone of successful supply chain management and a way for businesses to stay flexible and responsive to changing tastes in their markets, the dependence on and relationship with suppliers resulting from outsourcing and minimising stock creates a host of exposures.
Successfully navigating and managing the risks presented by a supply chain that spans across regional and national territory is a complicated endeavour considering the countless precarious factors that can cause disruptions across the entire supply chain.
As a business owner it’s never been more important to ensure you have an effective supply chain in place, to help improve efficiency, reduce costs and increase profitability. However, currently there are numerous external challenges which are causing huge supply-chain havoc.
Over the past few weeks we’ve seen numerous journalists reporting news headlines all related to the disruption or extension of critical supply chains: