The challenges and benefits of building supply chain resilience and how businesses should look to future proof their supply chain as an enabler of competitive advantage.
Five reasons why improving supply chain resilience is a boardroom issue:
1. Enhancing enterprise value:
Investors are increasingly focusing on the robustness of a company’s business model to determine enterprise value – and a resilient supply chain is critical to achieving this. ESG performance is another key element that can have a direct impact on a company’s valuation,
and demonstrating a commitment to this across all areas of operations, from product development to supply sourcing, is becoming ever
2. Investing in value creation:
At a time of unpredictable demand, businesses that invest in game-changing technology and data-based systems, can improve their agility and enhance their growth potential. Focusing spend in areas that will improve supply chain and cost transparency will enable value creation.
3. Strengthening customer service:
Improving supply chain resilience is an opportunity to reconfigure supply chains to meet, or even exceed, customer demands. By ensuring the customer is at the centre of any changes that are made, businesses can boost revenues and generate value.
4. Protecting business continuity:
Maintaining business continuity is vital to protecting revenues and improving supply chain resilience is critical to minimising the risk of costly, unforeseen downtime.
5. Long-term planning:
Almost every business has a long-term strategic plan, but recent supply chain shocks have forced many Boards to focus on the near-term. By future proofing supply chains now, businesses will be better positioned to grow sustainably over the long-term.