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2020 Risk Mitigation Strategies For Inventory Shortages | Supply Chain Management

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August 4th, 2020 - Nonstop Reliability webinar. Visit nonstopreliability.com to join our next webinar.

Supply Chain: Risk Mitigation Strategies For Inventory Shortages

The COVID-19 pandemic has been a perfect storm to highlight the gap in most supply chain strategies. We had looked at quality versus cost, we made sure we had a secondary supplier, we optimized inventory on hand based upon lead times and demand to keep cash flow up, and then we got hit. We had not considered the impact of whole countries shutting down, or inter-continental shipping grinding to a halt. Here we will take a look at how to address the gaps that COVID-19 has exposed and others we have not yet even considered.

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2020 Risk Mitigation Strategies For Inventory Shortages | Supply Chain Management

  1. 1. Supply Chain: Risk Mitigation Strategy for Inventory Shortages August 4, 2020
  2. 2. Matthew Boehne CRL, Moderator Picture of Person Matt’s focus on the future of reliability is driven by 25+ years of experience in architecting and implementing EAM/CMMS solutions for global customers across the life sciences, manufacturing, energy & utilities, oil & gas, facilities, and government industries. As CEO of Banetti, his focus is on enhancing the performance of the organizations he works with, and thereby improving the lives of those within these organizations. He speaks frequently on their mission to bring reliability, maintenance and operations together through the improvement and integration of processes and the CMMS platform. CRL, Maximo Deployment Professional
  3. 3. Dave Reiber CRL, Ret. General Motors Picture of Person Dave, the former Global Business Lead for Enterprise Asset Management & Condition Based Technologies at General Motors, has 30+ years as a leader in Enterprise Asset Management and Asset Condition Monitoring. Dave is a seasoned international trainer with deep experience in handling diverse cultures and languages. He has received a Chairman’s Honor Award for Leading a GM Team in developing Global Maintenance Business Processes and a CIO award for successful Enterprise Asset Management deployment in Liuzhou, China. CRL, CMRP Certified – Infrared / Ultrasound Certified Maximo Deployment Professional
  4. 4. Carlos Suarez CRL, Fmr. Johnson & Johnson Picture of Person Carlos spent 25 years in the regulated Life Sciences industry gaining vast experience in asset management, planning and scheduling, asset lifecycle management, risk management, RCA and technology project ownership & system administration (CMMS, MES, OEE). At J&J, he led all reliability projects that were centered around the ME2 (Manufacturing Equipment Excellence) program for his site, resulting in those programs flawlessly surpassing all ROI calculations. Now at Banetti, he shares his experience with their portfolio of clients while helping them achieve their Reliability and Maintenance goals. CRL, J&J ME2 Certified
  5. 5. Agenda NonStop Reliability Overview Part 1 - What we are facing Part 2 - How we need to shift Part 3 - Leveraging technology for success Q&A Conclusion
  6. 6. NonStop Reliability NonStop Reliability focuses 100% of its resources on improving reliability programs across the world. It is a community of practitioners, advisors and suppliers who come together to improve reliability through sharing and understanding. Here we focus on harnessing, dissecting and sharing those practices which make reliability possible. We do that by engaging with cross-industry experts who have walked the walk and achieved success in their careers. We know the path will be arduous. We know you will be challenged. We also know that it has been done, and that you can and will succeed with this community behind you.
  7. 7. Audience Poll Q: How are you creating redundancy in your supply chain since the pandemic? (Check all that apply) A) Increasing inventory to create an emergency safety net B) Relocating supply chains back to the US C) Increasing communication and forecasting with partners D) Diversifying suppliers of materials E) Creating a supply chain management system
  8. 8. Part 1 What We are Facing Supply Chain Disruption Unknown Return to Normal Systemic Impact Limited StartUp Capacity Delivery Demands Shortfalls Consumer Confidence hhh Source: Techtelco
  9. 9. The Scope of the Challenge Risk Mitigation Objective Alignment Cross-Functional Team Holistic Processes Critical Criteria Leverage Human Know-How Objective Driven Digitization Source: UPS CampusShip
  10. 10. Audience Poll Q: Since the pandemic, what are the biggest challenges facing your supply chain? (Check all that apply) A) Regulatory activities A) Shortages from China, India or other international locations B) Manufacturing delays (Critical component shortages) C) Transportation capacities D) Inadequate planning for short/long term disruption
  11. 11. Part 2 How We Shift Multi-Path Multi-Target Human Driven Differing Objectives Differing Expectations Insufficient “Cushion”ggg Source: Profit from IOT
  12. 12. The Scope of the Challenge Supply Chain State Single Source Supplier Single Point of Failure Lack of Detailed Insight Overly Automated Rationing Layoffs Miscommunication across departments Majeure declaration in supplier contracts Planning for Resilience Objective Alignment Single Source Elimination Bottleneck Mitigation Alternative outbound logistics options Secure capacity Production scheduling agility Conduct global scenario planning Supply network analysis & mapping
  13. 13. Audience Poll Q: Is your organization implementing new technology due to COVID-19 and the challenges you have faced? A) Currently implemented B) Pilot stages C) Budgeted 1 year D) Planned 3 years E) No plans
  14. 14. Part 3 Leveraging Technology Human Augmentation Process Driven FMEA Data Analytics Artificial Intelligence 3D Printingggg Source: Quora
  15. 15. The Scope of the Challenge Top Concerns - SC Improvement 36% cite technical skill gap 27% cite data sensitivity 23% say lack of interoperability 22% cite security threats 18% cite handling data growth Top Solutions Training - Digital tools and skills Identify data sharing needs during project planning Vendor cooperation Create smart project teams Combine OT and IT professional Assess vulnerabilities Identify the data that yields insights
  16. 16. NonStopReliability.com KEY TAKEAWAYS Tech Augments Humans Assess & Mitigate Risk Single Point of Failure Mitigation Critical Internal Alignment Vendor Data Sharing Matthew Boehne matt.boehne@banetti.com Carlos Suarez carlos.suarez@banetti.com Dave Reiber davedreiber@gmail.com

August 4th, 2020 - Nonstop Reliability webinar. Visit nonstopreliability.com to join our next webinar. Supply Chain: Risk Mitigation Strategies For Inventory Shortages The COVID-19 pandemic has been a perfect storm to highlight the gap in most supply chain strategies. We had looked at quality versus cost, we made sure we had a secondary supplier, we optimized inventory on hand based upon lead times and demand to keep cash flow up, and then we got hit. We had not considered the impact of whole countries shutting down, or inter-continental shipping grinding to a halt. Here we will take a look at how to address the gaps that COVID-19 has exposed and others we have not yet even considered.

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