For the past 12 months, anyone involved in logistics or the supply chain will have suffered sleepless nights, writes the World Economic Forum. Severe winter weather in parts of the Global North, Brexit and trade tensions have added significant challenges and a raft of new regulatory hurdles – and that’s before you consider the impact of COVID-19.
The pandemic has delivered both supply and demand shocks to global supply chains; COVID-19 has highlighted outdated processes leaving many supply-chains permanently altered.
According to the WEF, risk managers need to assess their resilience against future shocks and adapt strategies for the post-pandemic world by asking these questions:
- Is it time to further diversify my supply chain?
- Do I need to localize manufacturing?
- Should I invest in digitizing my supply chain?
- Can I make my supply chain more customer-focused?
WEF concludes, “Unfortunately, the sleepless nights endured by those working in logistics or the supply chain are not going away, but this time it could be more positive thoughts interrupting your sleep. Instead of waking up worrying about how to solve the next issue to beset your supply chain, you’ll lie awake considering the opportunities to redesign supply chains to be smarter and more resilient.”
To avoid electronics supply-chain disruptions, you may also wish to consult an expert in electronics component supply. With more than three decades of supply-chain expertise, Astute Electronics is ideally placed to work with you on your daily component requirements.
Either through the hundreds of manufacturers we purchase directly from, or the international network of component supply-partners offering full product traceability, Astute Safe-Supply, run by sourcing experts and offers a deeper insight into the global components markets.
With real-time access to the latest listings and prices cultivated through several decades of close supplier partnerships, we are able to spot price disparities and leverage product price variances to deliver cost-effective solutions to customers, whilst ensuring a quality, risk-free supply.
For more help with looking at supply chain options, contact Astute Electronics here
