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Effective Solutions for Your Supply Chain Risks
The document discusses the importance of effectively managing supply chain risks, which can significantly impact a company's investment and operational decisions. It identifies common risks and their potential financial effects, highlighting that 90% of businesses overlook these risks when sourcing production. The document advocates for using advanced software and analytics solutions to predict, prepare for, and minimize supply chain disruptions.
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Effective Solutions for Your Supply Chain Risks
- 1. Effective Solutions forYour Supply Chain Risks Created by Halo
- 2. Introduction Chapter 1 Chapter 2 Chapter3 Resources Risk Management Software Addressing Supply Chain Risks The Path of Supply Chain Risks and Their Impact Software and Analytics Solutions Table of Contents
- 3. Introduction Here we’ll identifythe most common risks, the departments they affect, and their potential financial impact on your company. We’ll also address some solutions for preparation, prediction, and management that can have a huge impact on your business. Your supply chain shapes investment plans, production processes, manufacturing decisions, and more for the entire company. Using top-tier management tools ensures accuracy and provides you with a comprehensive view of your supply chain risks. Learn more about real supply chain impacts and innovative risk solutions below. Have you considered the supply chain risks associated with your business?
- 4. Based on surveydata from the University of Tennessee, 90% of businesses don’t consider the supply chain risks when sourcing production. This is problematic because there are so many moving parts to a supply chain, and each part has its own set of variables which, if changed, could disrupt the process. This disruption has the potential to cost your company a ton of money, or worse—lead to your company’s demise. Manufacturers and suppliers must learn to effectively manage those supply chain risks, starting with identifying their source via effective tools and accurate data. Addressing Supply Chain Risks Chapter 1
- 5. Take a lookat the chart below to identify some of the most common supply chain risks and their devastating financial effects. This overview should provide insight into the significance of effective supply chain management, and how it pays off to be well-prepared. IT/Data Security Environment Suppliers Location Employees/Contractors (people) Political/Regulatory Terrorism Consumption Operations Operations Failure/Watch List Logistics Operations/Legal/HR Compliance Operations Operations/Demand Planning -6% to +3% -2% to +1% -7% to +7% -2% to +4% -5% to +4% -2% to +1% -1% to +1% -6% to +5% The Path of Supply Chain Risks and Their Impact Risk to Supply Chain Those Affected by Risk (Disruption) Impact on Business Profitability (net margin) Chapter 2
- 6. Software and AnalyticsSolutions Chapter 3 Maximize the value of already installed systems • Supplier Lists • OLFAC/Watch Lists • Accuweather • Traffic • Social Media Monitoring • Consumption Integrate pertinent third-party data Create a complete supply chain picture Use predictive analytics to discover risks and weaknesses Without the right tools and knowledge, a supply chain crisis can cause any number of costly problems. However,you can minimize your supply chain risk with a data-driven, strategic plan. The right software and analytics programs offer you solutions to effectively predict, prevent, prepare for, manage, and respond to supply chain risks. Halo's industry-leading software incorporates 4 major features that provide visibility into your entire supply chain and help turn information into action.
- 7. Establish forecasts, createbudgets, and develop strategic plans using data from the right risk management software. For more information about effective supply chain management and comprehensive software solutions, contact Halo www.halobi.com
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