RISK & RESILIENCE
“ According to the data , multi-sourcing is a critical area that automotive must improve upon , with our industry multi -sourcing at less than half the rate of other industries today ,” he details .
While acknowledging the initial investment required , he emphasises that the benefits “ far outweigh any concerns ”.
Elsewhere , industry-wide collaboration – particularly early in the product lifecycle – represents another vital component of supply chain resilience . Mike points again to the hyperscale data centre sector , where companies have successfully accelerated their innovation cycles through evolved partnership models with their supplier networks .
“ OUR DATA SHOWS THE AUTOMOTIVE INDUSTRY IS 25 % MORE LIKELY TO EXPERIENCE COMPONENTS BEING OUT OF STOCK ”
MIKE THOENY , PRESIDENT , AUTOMOTIVE BUSINESS GROUP , FLEX supplychaindigital . com 123