A Manufacturers Guide: Optimize Time to Recovery to Boost Supply Chain Resilience
With the cost of downtime exceeding $50 billion annually, manufacturers are scrambling to mitigate supply chain disruptions. Between ongoing port shutdowns, raw material shortages, geopolitical conflicts, and more, disruptions continue to mount at an alarming rate.
Just-in-time manufacturing — once considered the gold standard to keep costs down — has failed to withstand the constant disruptions spurred by the COVID-19 pandemic. Inventory and labor became scarce in many industries, and companies are still struggling with how to ramp production back up to pre-pandemic levels.
At the same time, customer expectations are higher than ever. Customers want their vendors to provide fast deliveries, sustainable processes, and low prices— a tricky balancing act in the face of increasing supply chain complexity.
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