SUPPLY CHAIN SHORTAGES & ITS IMPACT ON MANUFACTURING
Supply chain issues continue to put manufacturers on edge. Though no fault of their own, sudden and often drastic shortages of the materials they need continue to occur. It could be due to political conflict, a lack of labor forces, or numerous other factors. In all cases, when a manufacturer cannot get the product it needs, things shut down. Many manufacturers are looking for innovative solutions for handling supply chain issues. From simplistic decision-making to working with new suppliers, there are numerous ways manufacturers are getting back to work. One of the most frustrating of the supply chain limitations today comes in the form of relying too much on a single producer or provider. That single organization can shutter, leaving the company unable to meet its needs. Many companies have moved production back to the U.S. because of the limitations of political strife, including wars and changing economic climates. Yet, the best situation is often one in which you can operate your business with as much local supply as possible. Create your own supply chain to spread out your procurement, so you are less dependent on a single provider or a handful of companies for all of the materials you need. Diversification like this can save your organization money consistently. As a manufacturing company in today’s climate, it is critical to consistently work to address the unique needs of your organization. You can do that by focusing on identifying risks and finding innovative solutions. For more information on how to find success amidst any supply chain irregularity, check out the infographic paired alongside this post.