Category Archives: Resilience

How to Prepare for a Brexit-Size Disruption

How to Prepare for a Brexit-Size Disruption

The repercussions of “Brexit,” Britain’s momentous decision to exit the European Union (EU), will reverberate across the globe for some time. But one striking conclusion from the many analyses of the June vote is that companies were not prepared for this game-changing event. “Businesses were largely taken by surprise by [the] vote to leave theRead More

Mitigating the High Risk of Low-Cost Items

Mitigating the High Risk of Low-Cost Items

How important are you to your suppliers? It’s a question that companies need to ask when evaluating risk in their procurement strategies. And it is especially important in today’s fast-changing commercial environment where suppliers’ priorities can change very quickly. Of particular interest are items that are low cost and low volume but essential to theRead More

Second Thoughts on Second Sourcing

Second Thoughts on Second Sourcing

Not keeping all of your eggs in one supply basket is an appealing strategy to increase supply chain resilience. But it’s not always effective. Aero engine maker Pratt & Whitney has doubled up suppliers in an effort to avoid interruptions to the production of its new turbofan engine. But according to a recent Wall StreetRead More

How IoT Data Can Cut Machine Part Safety Stock

How IoT Data Can Cut Machine Part Safety Stock

A Supply Chain Management (SCM) master’s program thesis research project carried out in collaboration with managed services provider OnProcess Technology, headquartered in Ashland, MA, found that by using Internet of Things (IoT) data to predict machine failures, companies can reduce spare part inventory volumes and improve their ability to meet service quality levels. The thesisRead More