![]() Proactively taking action on these steps – and overall, creating a more modern supplier operation – will support companies in creating a more agile supply chain that can withstand any unprecedented events in the future. Invest in technology that digitally transforms a supply chain, offering real-time data insights so that issues can quickly be identified and data-driven decisions can be made to pivot operations and mitigate further risk.Continuously monitor and be transparent with their company about the financial and operational health of your partners.Develop a risk-assessment plan to identify and monitor risks across all tiers of the supply chain.In the long-term, Dun & Bradstreet recommends three key actions: It is a given that port closures will continue as the spread of COVID-19 and other unexpected events persist, and the ramifications to companies’ bottom lines will continue to increase as shipment costs and incremental time needed to receive raw materials and goods becomes a major component of overall supplier costs. SCMR: What steps must be taken to mitigate risk in the future?Īlster: Far bigger than the immediate steps for remediation, supply chain leaders should be asking themselves how they can mitigate the risk of future impacts to the delivery of goods and materials in the coming year. How urgently do you need the goods that are currently backlogged in and around the Ningbo-Zhoushan region?īased on these answers, supply chain leaders can then develop a plan to identify alternative suppliers in non-impacted regions of the world.How many tier 1 and 2 suppliers do you have in your supply chain that have been negatively impacted by this incident in the region?.Dun & Bradstreet recommends taking an immediate assessment of a company’s full supply chain, asking: shippers best respond to this crisis?īrian Alster: We are at a critical moment in time as the continuation of port and terminal closures is further weakening an already fragile global supply chain. Supply Chain Management Review: How can U.S. “The immediacy of the moment often takes away from the importance of planning for the future.” “We are at a critical moment in time as the continuation of port and terminal closures is further weakening an already fragile global supply chain.” Says Brian Alster, General Manager, Third-Party Risk & Compliance, Dun & Bradstreet. But all major Pacific Rim ports are vulnerable to a host of similar disruptive events. We noted at the time that the event triggering this port’s closure was due to another outbreak of COVID-19. Start yours now.Īs we reported earlier in the week, when operations were suspended indefinitely last month at China’s Meishan terminal in the Port of Ningbo-Zhoushan, industry analysts were quick to detect a complex dysfunctional trend. PLUS+ subscriptions start as low as $129/year*. Every article, every chart and every table as it appeared in the magazine for all archive issues back to 2010. To upgrade your subscription account, please contact customer service at:Įmail: Phone: 1-80 (1-50 x294 outside USA) To access our premium content, you need to upgrade your subscription to our PLUS+ status. Our records show that you are currently receiving a free subscription to Supply Chain Management Review magazine, or your subscription has expired. Need to access our premium PLUS+ Content? * Prices higher for subscriptions outside the USA. That's less than $0.36 per day for access to information that you can use year-round to better manage your entire global supply chain.įor assistance with your PLUS+ subscription, contact customer service. PLUS+ subscriptions start as low as $109/year*. Add convenient weekly and monthly email newsletters to your subscription to keep your finger on the pulse of the industry. Every article, every chart and every table as it appeared in the magazine for all archive issues back to 2009. Delivered by email faster than printed issues. Searchable replicas of each magazine issue. ![]() 7 Magazine Issues per year of Supply Chain Management Review magazine.All feature articles, bonus reports and industry research through. Subscribe Now.īecome a PLUS+ subscriber and you'll get access to all Supply Chain Management Review premium content including: Premium access to exclusive online content, companion digital editions, magazine issues and email newsletters.
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