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Supplychain disruptions are caused by a variety of factors, from pandemics, natural disasters and political instability to supplier bankruptcy and IT failures. To mitigate these risks , companies need the resources and technology to develop robust contingency plans.
Retailers who had their partner at the beginning of the COVID-19 crisis actually thrived and increased their sales – all thanks to advanced analytics and digital platforms. . Instead of using Excel to make calculations, cloud-based digital platforms can be used to detect significant changes in demand and supply.
2) Real-time visibility is extremely valuable during times of crisis! In the supplychain, visibility involves status reporting from suppliers, through the production&distribution infrastructure and all the way down to the shelf level. End-to-end scenario analyses require this visibility data as input.
Risk Mitigation SCM minimizes supplychainrisks through careful planning and collaboration. Proactive risk management prevents major losses. Key Features of an Effective SupplyChain An effective supplychain is characterized by agility, cost optimization, and risk mitigation.
2) Real-time visibility is extremely valuable during times of crisis! In the supplychain, visibility involves status reporting from suppliers, through the production&distribution infrastructure and all the way down to the shelf level. End-to-end scenario analyses require this visibility data as input.
If your planning platform has inaccurate data and you don’t have visibility on the data’s quality, you will need to keep the outputs. One goal of these steps should be to provide end-to-endvisibility across the organization through interactive dashboards and a single version of the truth. key customers and/or suppliers).
Canopy Canopy is a vendor master data and supplier management platform that aims to provide complete visibility of your suppliers’ information. It includes everything from finance and contract data to compliance, risk, and ESG assessments. It includes everything from finance and contract data to compliance, risk, and ESG assessments.
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