EPISODE · Jul 1, 2020 · 22 MIN

Supply Chain Flexibility

from Rethinking Supply Chain · host Venzee

In this episode of Rethinking Supply Chain, we talk about supply chain flexibility.John dives into why it is important for businesses to be flexible about their supply chain processes, what businesses can do now to be more flexible and adapt to current times, specific things that can be done to improve flexibility in supply chains, and much more.John starts off by framing the current problem: even companies with the best supply chains have been challenged by the Covid-19 pandemic. Walmart, a company with one of the best supply chain management systems in the country, still encountered challenges maintaining stock of certain products.Why is that? Although Walmart has an excellent supply chain system, they are working with suppliers who may not have their systems up to date. All of a sudden, workers were sent home, and the lack of AI-powered supply chain management meant that logistics were frozen overnight since the traditional hands-on methodology couldn’t continue.Flexibility is crucial right now as the pandemic has exposed the gaps and inefficiencies across supply chains in nearly all industries. Flexibility means diversifying distribution as well as the adoption of ‘network thinking’, to plan for uncertainty.