It’s not uncommon for supply disruptions to occur that significantly impact your supply chain operations. Having a solid supplier diversification strategy in place will help to reduce this risk and maximize your manufacturing and production uptime.

Stages of rapid change require predictive information so we can take swift action to win in the future. Act now to track the right metrics across your tiered supply base to enable proactive supplier risk management to thrive during times of economic volatility.

As a wide range of industries turn on production lines after the mandated COVID-19 shutdowns, they’ll do so with strained supply bases. We must quickly embrace our new normal and reduce supply risk if our businesses are to succeed in the days ahead.

Become a proactive organization instead of a reactive one. Take these four actions to prepare your supply chain for economic recession.

Whether or not purchasing teams will succeed in their efforts to build strategic alliances to reduce risk comes down to how effectively they understand their supply bases through segmentation.