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Consider and discuss areas of your supply chain that could benefit from having more flexibility and resiliency. List specific activities you could undertake to make improvements.
An area that could more flexibility is the availability of information on preferred vendors, agreements and contracts. The information is stored in more than a couple databases. Each database holds some similar information, and others a variety of different data. The databases are all updated manually and do not speak to each other. The overlap of information is noticeably different between databases, and is almost never updated regularly or at the same time. This can cause internal buyers/purchasers to be at risk. Missing out on preferred pricing, better pricing from other suppliers and no other purchaser knows, risk to be in-compliant with active agreements, and high risk to negatively affect relationships.
Having one controlled database for all information can increase the transparency into vital information for all users.
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The supply chain could benefit from having more flexibility and resilience by having more standardized processes. My organization got sanctioned on violation of one of the governing body's policies. There was no trade of one of the major profit earning lines. Things were tough in those years for the organization and the recovery was through reallocating resources where the need was greatest and where we could gain more to cover part of the income gap and reduce our variance.
Other ways of improving flexibility and resilience are by:
* Strengthening and deepening relationship with suppliers where the company has very few, so that in
times of unforeseen circumstances, they can rely on them for help
* Having informed employees that share information and adequate communication with suppliers
* Having the right policies in place and ensuring they are practiced
* Diversifying the supply chain and keeping strong relationship with the suppliers