Resilience through contingency planning
Visibility into your supply chain doesn't just support problem-solving on the spot. It also helps you detect vulnerabilities in your supply chain and formulate back-up plans. The events of the past years are evidence that disruption is inevitable. That's why we recommend applying a contingency mindset. It's the acceptance that things will go wrong and the resolve to always have a Plan B and even a Plan C ready to go. Contingency plans provide instant flexibility in the event of disruption. As you flag risks, thanks to data collected at each step of the supply chain, you are ready to respond.
As of 2021, it is estimated that more than half of companies lack end-to-end visibility into their supply chain. This lack of visibility makes them vulnerable to unexpected risks, such as the blockage of the Suez Canal. They are also less likely to detect emerging threats, including far more common problems like disruption at the port. While global logistics will always remain complex, visibility can make your supply chain more predictable, more flexible, and more resilient.