Anyone who has spent any amount of time in the supply chain profession is well experienced in dealing with constant changes. Supply chain disruptions are, after all, an unavoidable part of the territory. Even with this rule in mind, there’s no denying that the breakneck speed of evolution and adaptation we’ve endured over the last 24 months has been, in a word, revolutionary. By now, it’s become clear that the ramifications COVID-19 has had on global supply chains will be felt for some time to come. Many of the coping mechanisms implemented during this period will likely be seen as permanent fixtures in supply management, rather than stopgaps.
However, it’s crucial to avoid viewing the pandemic through a siloed lens. We need to put the pandemic into context for an accurate understanding and analysis of what we've experienced and the resulting turn of events. At the end of the day, we are still living in what can—and should—be considered a black swan event. Even more importantly, we must remember that this event is one that will eventually subside; it will come to an end, just as all other seemingly insurmountable supply chain disruptions have.
Don’t Be So Quick to Say Goodbye
But even though it will one day be in our rearview mirror, that doesn’t mean we should leave it behind completely. After all, it would be foolish not to carry the lessons we've learned from it into the future; for example, the importance of maintaining an agile and innovative company culture, as well as an eagerness to implement cutting-edge technologies.
One of the most important learnings to take away from this experience is the fact that supply chain disruptions and hazards are unavoidable—no matter what else may be going on in the world. Even throughout the pandemic, there were a number of other challenging events that took place: Brexit, trade tariff wars, the closure of the Suez Canal, and a number of extreme weather occurrences, to name a few.
It is critical to acknowledge that disruptions will continue to be a part of the picture, even after what has seemed like the most impactful two years in recent history is in our rearview. At the end of the day, we live in a turbulent world; data from McKinsey supports this stance, with findings that indicate we’ll likely experience serious disruptive events every three to four years.
Making the Most of Supply Chain Disruptions
Disruptions are, if nothing else, a catalyst for growth. Over the last 12 to 14 months, it’s been proven time and again that those organizations that are nimble and adaptive are the most well-positioned to deal with the world as we see it today—and as we will undoubtedly see it in the years to come.
So, what’s the key to success? Based on what we’ve seen, it all boils down to implementing and adopting technologies that allow you to react quickly. Embracing a best-in-class digital strategy, with tools that streamline the insights-to-action process is the most effective way to anticipate and react to the unavoidable disruptions you’re bound to encounter.
LevaData’s revolutionary, AI-powered platform offers the tools, recommendations, and insights needed to successfully manage supply chain disruptions. Learn more about our Supply Risk Navigator solution here. Then, schedule a demo with us to discover how we can help transform your company’s risk management strategies.
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