Smart manufacturers find opportunities in supply chain disruption

This year’s supply chain risks are significant, and the best way to protect yourself is to prepare for the worst and hope for the best. Creating long-term plans with built-in flexibility will give you the best chance for success amid disruption, inflation, increased competition, and more. When the COVID-19 outbreak struck, manufacturing organizations found themselves questioning nearly every aspect of their operations.

Manufacturers of all shapes and sizes mobilized to understand the situation, predict what was coming next and adapt the way they operated in response to what was happening. Manufacturers needed to be agile to cope with the constantly changing dynamics; they had little choice.

Virtually overnight, we saw a raft of changes implemented, including the adoption of digital technologies, revised working practices and new supply chains. This was a lesson in agility itself. We even saw numerous firms temporarily repurposing to produce products they probably wouldn’t have made otherwise such as ventilators, face shields and test kits.

Having implemented a number of changes to rapidly respond to the unfolding situation, many organizations were left with an artificially inflated perception of their agility. Once the dust had begun to settle and there was scope to take stock – particularly by looking at other manufacturers around them -the true level of their agility became apparent.