Future-Proofing Your End-To-End Supply Chain For 2023

The storm clouds are gathering, threatening much worse than the current cold drizzle. Bank of America, Lombard Research, and many others project recession will be with us by the end of the year. This is reflected by deteriorating CEO confidence in Q3 according to The Conference Board’s Measure of CEO Confidence, with findings indicating CEOs are preparing for weakening economic conditions ahead. Consumer confidence has shown a mixed improvement since hitting its lowest levels post-pandemic, with the job market, inflation, interest rate hikes, and short-term finances among top concerns.

Given this volatility, leaders must prepare for a wider range of outcomes that have reasonable probability of occurring. The coming year will likely bring an underlying shift and realignment in power dynamics between supply-side (less power) and buy-side (more power) with a ubiquitous focus on cash. Future proofing the end-to-end supply chain in this environment means shifting from finite scenario planning to a “read and react” strategy focused on key markers to ensure your business and operations can pivot quickly to a rapidly changing economic and supply chain environment.

Executives who have multi-tiered business continuity and enhancement plans in the following six areas are well-placed to strengthen supply chain visibility, agility, optionality and resilience in times of volatile change.

Optimize your network design and manufacturing/distribution footprint.

The adjustments made during the pandemic will not prepare you for volatilities ahead, but the change from a transactional mindset to a strategic mindset within your supply chain workforce will remain essential.
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