CONSTRUCTION Oct2021 GineersNow - Delta Variant Slowing Down Construction Recovery
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N E W S
S T O R I E S
How Manufacturers can
Overcome Global Supply Chain
Issues During the Pandemic
During COVID-19, it has become
crucial for manufacturers to be able
to maintain production with limited
supply. Supply chain issues can
disrupt business operations and lead to
substantial financial losses. Manufacturers
who have been able to implement strategies
that allow them to continue operation are in a
great position to come out of this global crisis
successfully.
This article discusses how global supply
chain models may be transformed and how
you may be able to overcome the current
challenges. Every business has its own unique
set of circumstances so some of these ideas
may or may not apply to your manufacturing
company. In any case, we hope you find these
ideas helpful and encouraging.
Inventory Optimisation
Inventory Optimisation is one of the key
ways that manufacturers can minimise their
risks during pandemics. When you are able
to predict demand, it allows you to make
better decisions about how much inventory is
currently available and any additional supplies
you need to place an order for. Certainly, the
scale of COVID-19 caught us all by surprise.
None of us could have foreseen the number
of supply chain issues we would face and
the experience has given us all insight into
vulnerabilities we had yet to consider.
Product Substitution
Supply chains have become increasingly
complex and globalised due to an ever
increasing number of players involved at each
step, from raw material suppliers all the way
through to final product assembly. During a
crisis, it is time manufacturing businesses need
to think creatively in order to survive and even
thrive. Due to the current global supply chain
issues, manufacturers are using alternative or
substitute materials.
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