As a result, supply chain experts find themselves grappling with new challenges and facing significant uncertainties. In the wake of these changes, here are four critical questions that we need to answer to jump-start the global supply chain:
1. How can we ensure that the global supply chain remains resilient?
The pandemic exposed the vulnerabilities in global supply chains in terms of disruptions, transportation issues, delays, and resource shortages. Moving forward, supply chain specialists need to find ways to boost supply chain resilience, such as by adopting innovative policies, implementing risk management frameworks, establishing backup suppliers, and exploring new transportation modes like air cargo.
2. How can we transform the traditional supply chain to an agile and flexible one?
The defined, rigid, and centralized supply chain model has proven insufficient in meeting the changing demand and supply dynamics during the crisis. Hence experts emphasize the concept of agility to respond more efficiently to uncertain situations. To create an adaptive and responsive supply chain, businesses must embrace a decentralized approach, adopt digital innovations like AI, robotics, cloud computing, and IoT, and invest in processes that enable real-time visibility.
3. How can the 12v/24v Jump Start Factories integrate into the global supply chain?
The manufacturing of 12v/24v jump-start factories is rapidly increasing globally. However, it’s crucial to establish the necessary supply chains to support the production, distribution, and operation of these factories. Bridging these gaps will require businesses to evaluate capacities in reducing shipping costs, standardize and optimize their supply chain, for example, systemize transportation management and forecasting a more accurate production timeline.
4. How can businesses mitigate the challenges of new trade regulations?
Brexit, US-China trade war, and increased industry regulations have substantially affected global trade relations. Companies need to be aware of these changes and evaluate their impact on the supply chain. It’s important for businesses to be agile in adapting to the regulatory changes to avoid disruptions to the supply chain.
In conclusion, supply chain dynamism is essential for businesses to thrive in the post-pandemic era. It's important to establish agile and flexible supply chains, improve resilience, integrate new technologies, and mitigate the challenges of emerging trade regulations. By taking these measures, businesses can jump-start the global supply chain and position themselves for long-term success.