EY
footprint , determining where best to place their physical assets such as manufacturing facilities , warehouses and more .”
Five key themes for resilient supply chains “ Resilience is a concept that is multifaceted , with most people not understanding how broad and deep it really is ,” he says . “ End-toend visibility is foundational to a resilient supply chain , with agility built into the extended chain to enable action .”
Steinberg says five key themes of resilience have emerged in the course of stress testing clients ’ supply chains to uncover both vulnerability and opportunity :
• Embedding end-to-end visibility by leveraging technologies such as internet of things , digital twins , simulation software , analytics , AI ( including machine learning ) and alerts for risk monitoring .
• Creating agile networks by re-evaluating the geographical and strategic architecture of the supply chain . “ It is a simple question to ask what should be local , regional or global , but in a complex partner ecosystem , reconciling a network of warehouses , manufacturing plants , logistics , procurement and the other pillars of the supply chain is never easy .”
• Securing alternative sources of supply . “ This means not only spreading your bets among additional suppliers , but also including diversity , equity and inclusiveness ( DEI ) commitments in your sourcing efforts .”
• Developing a resilient workforce “ by preparing employees to have the skills required in the next five years and embedding a problem-solving mindset into the ways of working right down to the shop floor machine operators .
• Building a trusted , secure supply network . “ In an era where everything is interconnected by technology , cybersecurity is paramount if a supply chain is going to be resilient .”
Steinberg ’ s other focus is supply chain sustainability , and he says innovation around this important topic goes hand-in-hand with the fundamentals of resilient supply chains .
“ A resilient supply chain requires that you embed end-to-end visibility , simulation and risk monitoring into your business , while a sustainable supply chain requires traceability , visibility and disclosure . These are two different , but related , topics that are being worked on in earnest by companies across the globe . Similarly , resilience requires that a company secure alternative sources of supply to be ready for the next
54 May 2022