Over the past couple of years, the world has witnessed events that have disrupted several supply chains across the globe. The pandemic and current geopolitical turbulence have dealt a heavy blow to the global economy. While these are major events that have a global impact, however, most supply chain disruptions often stem from seemingly innocuous causes.
Anticipating and navigating disruptions is essential to the success of every business. Enhancing predictive capabilities is a must for creating or maintaining a strong supply chain, it can give business owners the required time to create a strategy that can help them sail through unfavorable situations.
Broadly, there are 3 major components to mitigating supply chain disruption: visibility, agility, and resilience.
Visibility across your supply chain can help you anticipate potential future disruptions as well as equip you with the data to build an effective response to such disruptions
Agility is the ability to gauge and act quickly against disruptions, to minimize the overall impact
Resilience is the ability to resist, absorb and recover from disruptions
The most efficient tools to preempt and stay afloat during a disruption are Business Intelligence and Analytics (BI & A). Read more....
Source Link:- ttps://www.barcodeindia.com/blog/using-business-intelligence-and-analytics-to-combat-supply-chain-disruptions/
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