Guard Against Supply Chain Risks

No matter the industry, just one missing or wrong part can delay product delivery.

In a March 2020 study of supply chain leaders in manufacturing and retail companies around the world, international analyst firm IDC found that the supply chain is considered “a strategic tool for business performance and growth”. Yet “many established supply chains are finding themselves poorly positioned to compete in a fast, highly disruptive environment.”

The use of new technology is identified as the top driver of change in supply chains to “improve their resiliency, including the flexibility of logistics, transportation costs, and successful risk management.”

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Source: “A Modern, Connected Cloud Environment Optimizes Supply Chain Collaboration,” May 2020, IDC

But what are examples of cutting-edge new technologies that can introduce more flexibility into the supply chain?

 

*Register* NOW for the live webinar on “Guarding Against Supply Chain Risks” on October 22 at 5pm CET.

 

Monitor the Market with Dashboards

Listening to social media helps get a leg up on what’s going on in the market in real time in order to anticipate and reduce disruptions. The Social Business Analyst role on the 3DEXPERIENCE platform on the cloud allows you to:

  • Aggregate content from across the social web alongside enterprise data;
  • Analyze business metrics in your social context; and
  • Automate alerts and actions to drive faster decision-making, 24/7/365.

Keep an ear to the ground about key suppliers and how climate, political, financial, legal, public health and other risks could impact your business.Monitor what competitors are doing, what customers are saying, and what consumers are looking for. Customizable dashboards let you see the information the way you want to see it.

 

Add Resiliency by Connecting Engineering and Procurement

According to IDC, “Ecosystem networks enable manufacturers, partners, suppliers, and customers to communicate, collaborate, transact, and optimize their interactions and operations.” Furthermore, “Cloud platforms enable the supply chain to gather all ecosystem stakeholders onto one environment to drive resiliency and real-time collaboration and to streamline processes.”

The artificial intelligence-driven PartSupply on the 3DEXPERIENCE Marketplace, a global ecosystem of more than 900 qualified suppliers of over 53 million components, does just that. Using 3D similarity search, it allows engineers to find and download a 3D part and test it in their assembly before determining whether to purchase it. Once you’ve found the right part, evaluatesupplier location and contact the supplier directly to negotiate pricing and place your order.

PartSupply Enterprise goes a step further, creating a broad ecosystem of external parts suppliers and internal standard parts in order to pare down the catalog and make informed decisions about whether to make, reuse or buy product parts.

Watch the demo as:

  • A Procurement Manager uses Social Business Analyst to learn about an existing supplier at risk and find an alternative;
  • PartSupply finds a similar product part from the new supplier; and
  • Social Business Analyst confirms the new supplier’s viability.

 

Conclusion

Supply chains have always been subject to change. IDC predicts “There’s every reason to believe that the pace of supply chain change will continue to accelerate and that the supply chain of the future will be in a constant state of flux….Companies that can build supply chain resiliency more quickly will be better positioned to support their consumers/customers and therefore grow their businesses more effectively.”

Become more agile in order to better adapt to changing conditions:

 

*Register* NOW for the live webinar on “Guarding Against Supply Chain Risks” on October 22 at 5pm CET.

 

Resources:

Learn more in our eBook!

See how leaders in the transportation & mobility industry are driving resilience in extraordinary times.

Here’s how the high-tech industry is strengthening its supply chain against volatility.

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