Posts by Korbinian Reng:
Recently, in the first part of my blog article series “Supply Chain Risk Management – far more than just a way out of the current crisis“, I highlighted the importance of linking the two disciplines of Risk Management and Supply Chain Management when managing crises. There is another important aspect to not just surviving times of crisis, but to come out of these strengthened. And that is the time factor.
For this reason, the second part of this blog article series is dedicated to the following questions: Where do I start? What ad-hoc measures can I implement to mitigate impact? What can I quickly do to protect my supply chain? Read more
The current coronavirus crisis clearly shows how vulnerable and susceptible to disruption supply chains are today. It also shows how important it is to anticipate disruptions of any kind in order to minimize their impact. In this context, supply chain risk management plays a major role. Essentially, it is a matter of finding answers to the following questions:
- What risks is my supply chain exposed to?
- How can I identify problems in my supply chain as quickly as possible, catchword early warning system?
- What do I need to do to minimize loss and to be even stronger in the end?
- As well as the lessons learnt: Which measures should I implement to ensure that I can effectively respond to any future risks?
Buyers in the manufacturing industry face a variety of challenges, such as volatile markets, high competitive pressure and ever shorter product cycles – catchword time-to-market – to name a few. Adding to that, manufacturing companies primarily source production components, placing high demands on quality and delivery time. But also the so-called indirect material offers a great potential for optimization. Many are asking how to optimize the entire purchasing process in such times. A promising approach is online auctions. Read more