Rsik management is a very complex task considering the huge number of suppliers, customers and service providers involved in delivering the product. But with a right set of people, good number of manufacturing locations and right logistics the risk can be mitigated. But all the companies should vision the future and have both short term and long terms plans to counter the risk.
Thanks for the comments so far. If anyone is interested in getting help doing a SC risk assessment of your company we can help. At Avnet Velocity, we are thought leaders in this space and can help you raise awareness in your own companies.
Yes, I think anyone in industry has seen this happen over and over. In the workplace, we need to do the equivalent of "calling the ball" - decide who is in the best position to make the play, and clearly assign the task.
After reading this article, it still amazes me that so many companies throughout the supply chain seem to neglect risk management. What they fail to realize is that they are a vital piece of a puzzle. If they create a break in the chain they mess with the whole big picture and not just themselves. By thinking that they can have customer service straighten things out, they don't realize that they also might have messed with the companies before and after them in the supply chain. By taking a little time to strategize and think ahead, many supply chain issues could be eliminated.
I've always found the concept of risk management to be a hard one to grasp, but once you understand how to identify and quantify risk, it seems imperative to act. Ultimately, a company should rely on itself and its own data in risk-management scenarios. It's great to trust your partners, but the electronics supply chain is so complex that the missed fly ball scenario seems all too likely.
EBN Dialogue enables and encourages you to participate in live chats with notable leaders and luminaries. Not only editors and journalists, but the entire EBN community is able to comment and ask questions. Listed below are upcoming and archived chats.
Thailand Stages a Comeback Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
Microsoft Surface: Potential Winners & Losers What are the implications for the electronics industry supply chain of Microsoft Corp.'s decision to launch its own tablet PC? Join industry veteran and EE Times' systems and OEM expert Rick Merritt on Tuesday, July 3, at 12:00 pm EDT for a Live Chat on this subject.
Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
Peter Drucker famously said "Trying to predict the future is like trying to drive down a country road at night with no lights while looking out the back window." Yet in the razor's-edge world of electronics—with a lean supply chain and just-in-time demands—the need to know the future is vital.
While no one really can accurately predict the future, we can take guidance from another Drucker saying which is the best way to predict the future is to create it.
You've heard the saying "the No. 1 supply chain risk is your people." That hasn't always been the case. But today's complex global supply chain requires a new type of multitalented employee. It's one who understands, finance, marketing, economics, is savvy with technology, graceful with relationships and can think analytically.
Where are these people? Are universities properly preparing the next generation supply chain professionals? How do train your existing workforce for these new, demanding positions?
Brian Fuller, editor-in-chief of EBN, will lead a 60-minute Avnet Velocity panel discussion that will ask and answer these and other questions swirling around today's supply-chain talent challenges.