After two years of global supply chain disruption, the new potential for a recession is causing manufacturers to rethink their supply chain management strategies again. That’s because a well-run supply chain can help them survive uncertainty, even when growing customer expectations and increased sales make it feel too monumental to overcome.
Here’s the good news: We’ve created this toolkit from our recent articles so manufacturers can have a resource giving them meaningful insights that improve operations, even during turbulent times.
Before the pandemic, optimizing manufacturing and logistics systems seemed to be working: costs were reduced, assets utilized, and inventories minimized. No one was expecting a pandemic that would upend the global economy. Why has this supply chain disruption significantly impacted manufacturers between 2021 and 2022?
Global supply chain disruptions are putting a strain on manufacturing businesses. High product demand and labor shortages require modern manufacturers to build supply resilience and agility. To stay competitive, businesses need to find new ways to reduce their reliance on suppliers and increase the flexibility within manufacturing processes. If only there was a secret weapon manufacturers could use to overcome this supply chain disruption.
Supply chain disruptions can have devastating effects on a manufacturing business. The increase in consumer demand for durable goods that led to a global supply chain crisis has yet to resolve. Businesses across the economy are suffering in response to delayed deliveries, increased uncertainty, and overworked employees. The road to recovery is unsure, but manufacturers can avoid worse supply chain disruptions beyond 2022.
Supply chain disruptions are nothing new, but the pandemic caused remarkable disorder that reached new heights and even affected Fortune 1000 companies. As a result, U.S. manufacturing and distribution companies of all sizes started looking for ways to downgrade their growth projections. Many factors are to blame, including factory closures, travel bans, and labor shortages. Manufacturers can find ways to grow through the chaos with a growth mindset.
Technology has revolutionized how we live and work, and it has done so in a way that has profoundly impacted manufacturing. With the help of modern technology, factories can now produce high-quality products at an unprecedented pace. Finding technological solutions for real-world business problems helps you optimize and automate your core manufacturing business processes, so everyone in your organization accomplishes more.
Streamlining business processes is a continuous effort and often exhausting. Successfully operating a manufacturing business depends on implementing the right business solutions. With comprehensive business management software, manufacturing companies get all-in-one management capabilities specifically tailored to meet their needs and long-term goals.
Experts predict tough times ahead with a total economic recovery that will take years, so keeping costs low will be top priority. Manufacturers face a particularly difficult time as the economy’s future remains uncertain. By implementing lean manufacturing principles, manufacturers can be more efficient, stay competitive and save money– while still providing high-quality products.
With this toolkit, you can look ahead with optimism. While the global supply chain disruption and potential for recession is cause for concern, it is also causing manufacturers to rethink and improve their supply chain management strategies. Supply chain management solutions can help get manufacturers through these uncertain times, and businesses should consider implementing or improving their current technologies.