Updated: Apr 27, 2020
Supply chain disruptions aren’t the norm, but proper risk planning suggests they should be expected from time to time. Whether it’s stock issues, changes to local laws or a global pandemic that impacts a supplier’s ability to deliver, supply chain preparedness can help brands successfully weather the storm.
Do you know what’s going on with your suppliers?
“What is the status of my project? Are freight companies operating? What other vendors can I turn to?” These are just some of the questions keeping marketers and procurement professionals awake at night. They are also what energize INWK’s Operational Excellence team to deliver for our clients each day, and particularly during times of uncertainty.
Our Supplier Relations and Strategic Sourcing professionals regularly monitor all our global vendors through key supplier tracking mechanisms. At the onset of the pandemic, we quickly ramped up the robustness and frequency of these mechanisms, performing advanced database monitoring, increasing communication across account teams, with our clients and supplier base to identify risks in real time, and developing contingency plans when suppliers near specific vulnerability thresholds. From capability and capacity to overall financial health, we’re proactively scrutinizing all angles of the supply chain to identify potential threats. The combined effects of these and other steps is minimizing risk for our clients’ and ensuring we meet customer needs.
Planning for today and tomorrow
It’s our responsibility to the industry and to our clients to provide leadership during these uncertain times. Supply chain disruptions should always be expected, and it’s possible to be prepared. Knowing where disruptions will likely occur and effectively managing through them ensures that we and the brands we serve are ready for whatever comes next, in all scenarios.
To schedule a risk analysis of your supply chain, get in touch with our Operations Excellence team contact us today.
Vice President, Operations Excellence, Strategic Sourcing