With the pandemic disrupting global supply chains, should decades of just-in-time and Lean manufacturing practice be thrown out the window? Cost-cutting has ruled supply-chain management strategies for years. Exhibit A is the slashing of inventories feeding manufacturing lines. Then there’s the gospel of Lean, which seeks to eliminate waste from every aspect of production, storage
For businesses today, merely surviving the pandemic and economic downturn is tough enough — but not enough. Getting through this latest crisis is more than a matter of staying afloat, critical though that objective might be. Companies need to be taking an entirely fresh look at their business planning and execution strategies, with a particular
If we didn’t think supply-chain risk management was all-important before, we know it now. There’s been no lack of earthquakes, tsunamis, floods and volcano eruptions to focus our minds on the important of supply-chain risk and recovery. But the coronavirus pandemic has made that need more evident than ever before. Today, the conversation about risk
The coronavirus pandemic has thrown global sourcing strategies into chaos. Will it result in a return of some manufacturing to the U.S.? Numerous plants in China were forced to close temporarily in the early weeks of the coronavirus outbreak in that country. Only recently have some begun resuming operations, but production won’t be back at
Corporations today are under relentless pressure to boost profits and stock value every single quarter. How can they escape this dreaded hamster wheel? Source link