3 – Supply Chain
Understanding your supply chain is a critical factor in reopening and ensuring you can meet the demands of your customers. Begin by reviewing the questions below and then the topic-specific resources.
- Are your inventory, supplies, and equipment adequate? Do you have a sufficient, resilient supply chain in place to operate? Do you need to cancel/postpone current orders or delay purchasing new supply/inventory?
- Have you connected with each vendor, supplier, and member of your supply chain?
- Do you have a clear picture of each link in your mission-critical supply chain?
- Have you clearly communicated your needs and expectations to your suppliers?
- Is there a need to renegotiate pricing or payment terms with those in your supply chain?
- Do you have defined alternatives in the event that one or more of your suppliers is unable to meet your needs?
- Is there a plan in place for continuously analyzing the performance of your supply chain?
Managing a Remote Workforce-Lynchburg SBDC
Understanding and Mitigating Supply Chain Risks Remotely-Breakdown
Introduction – (2.5 min)
Why supply chain continuity is critical/risk-management strategies – (2.5 min)
What causes supply chain disruption? - (7 min)
Why COVID-19 different - (3 min)
The three business-type examples that will be used - (1.5 min)
How to understand your supply chain - (4.5 min)
How to identify your suppliers - (5.5 min)
How to assess supply chain disruption risks - (7 min)
Mitigation approaches - (6.5 min)
Adaptation approaches/strategies - (9 min)
Short-, mid-, and long-term actions you should take – (3.5 min)
Resources – (2.5 min)
Q&A and Closeout – (4 min)