{"id":47892,"date":"2023-01-11T10:27:52","date_gmt":"2023-01-11T15:27:52","guid":{"rendered":"https:\/\/simfoni.com\/?p=47892"},"modified":"2023-01-11T16:05:13","modified_gmt":"2023-01-11T21:05:13","slug":"6-ways-companies-can-overcome-supply-chain-disruptions","status":"publish","type":"post","link":"https:\/\/simfoni.com\/supply-chain\/6-ways-companies-can-overcome-supply-chain-disruptions\/","title":{"rendered":"6 Ways Companies Can Overcome Supply Chain Disruptions"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"47892\" class=\"elementor elementor-47892\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"has_eae_slider elementor-section elementor-top-section elementor-element elementor-element-b0b887a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-eae-slider=\"35985\" data-id=\"b0b887a\" data-element_type=\"section\" data-e-type=\"section\" data-settings='{\"pix_scale_in\":\"none\"}'>\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-551b4ee\" data-eae-slider=\"92596\" data-id=\"551b4ee\" data-element_type=\"column\" data-e-type=\"column\" data-settings='{\"pix_scale_in\":\"none\"}'>\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-914dcfa elementor-blockquote--skin-border elementor-blockquote--button-view-icon-text elementor-blockquote--button-skin-classic elementor-widget elementor-widget-blockquote\" data-id=\"914dcfa\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"blockquote.default\">\n\t\t\t\t\t\t\t<blockquote class=\"elementor-blockquote\">\n\t\t\t<p class=\"elementor-blockquote__content\">\n\t\t\t\tWith the ever-increasing dependence on global supplier networks to fulfill procurement needs, companies must begin to integrate new technology into their <a href=\"https:\/\/simfoni.com\/procurement\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Procurement\" target=\"_blank\" rel=\"noopener\">procurement process<\/a>\t\t\t<\/p>\n\t\t\t\t\t\t\t<div class=\"e-q-footer\">\n\t\t\t\t\t\t\t\t\t\t\t<cite class=\"elementor-blockquote__author\">Simfoni.com<\/cite>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/twitter.com\/intent\/tweet?text=With+the+ever-increasing+dependence+on+global+supplier+networks+to+fulfill+procurement+needs%2C+companies+must+begin+to+integrate+new+technology+into+their+procurement+process+%E2%80%94+Simfoni.com&amp;url=https%3A%2F%2Fsimfoni.com%2Fsupply-chain%2F6-ways-companies-can-overcome-supply-chain-disruptions%2F&amp;via=simfoniapps\" class=\"elementor-blockquote__tweet-button\" target=\"_blank\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fab-twitter\" viewbox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M459.37 151.716c.325 4.548.325 9.097.325 13.645 0 138.72-105.583 298.558-298.558 298.558-59.452 0-114.68-17.219-161.137-47.106 8.447.974 16.568 1.299 25.34 1.299 49.055 0 94.213-16.568 130.274-44.832-46.132-.975-84.792-31.188-98.112-72.772 6.498.974 12.995 1.624 19.818 1.624 9.421 0 18.843-1.3 27.614-3.573-48.081-9.747-84.143-51.98-84.143-102.985v-1.299c13.969 7.797 30.214 12.67 47.431 13.319-28.264-18.843-46.781-51.005-46.781-87.391 0-19.492 5.197-37.36 14.294-52.954 51.655 63.675 129.3 105.258 216.365 109.807-1.624-7.797-2.599-15.918-2.599-24.04 0-57.828 46.782-104.934 104.934-104.934 30.213 0 57.502 12.67 76.67 33.137 23.715-4.548 46.456-13.32 66.599-25.34-7.798 24.366-24.366 44.833-46.132 57.827 21.117-2.273 41.584-8.122 60.426-16.243-14.292 20.791-32.161 39.308-52.628 54.253z\"><\/path><\/svg>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-blockquote__tweet-label\">Tweet<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/blockquote>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9bb72ef elementor-widget elementor-widget-text-editor\" data-id=\"9bb72ef\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span class=\"TextRun SCXW211568987 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW211568987 BCX0\">Due to multiple issues ranging from socio-economic and political issues<\/span><span class=\"NormalTextRun SCXW211568987 BCX0\"> to the pandemic, supply chains throughout the world have been disrupted<\/span><span class=\"NormalTextRun SCXW211568987 BCX0\">, <\/span><span class=\"NormalTextRun SCXW211568987 BCX0\">causing billions of dollars in lost revenue.&nbsp;<\/span><span class=\"NormalTextRun SCXW211568987 BCX0\">The key to overcoming these challenges lies in <\/span><span class=\"NormalTextRun SCXW211568987 BCX0\">implementing supply chain best practices, starting with <\/span><span class=\"NormalTextRun SCXW211568987 BCX0\">digitizing<\/span><span class=\"NormalTextRun SCXW211568987 BCX0\"> and optimizing<\/span><span class=\"NormalTextRun SCXW211568987 BCX0\"> the <strong><a href=\"https:\/\/simfoni.com\/procurement\/\" target=\"_blank\" rel=\"noopener\">procurement <\/a><\/strong><\/span><span class=\"NormalTextRun SCXW211568987 BCX0\">and <\/span><a href=\"https:\/\/simfoni.com\/esourcing-guide\/\" target=\"_blank\" rel=\"noopener\"><strong><span class=\"NormalTextRun SpellingErrorV2Themed SCXW211568987 BCX0\"><span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">eSourcing<\/span><\/span><\/strong><\/a> <span class=\"NormalTextRun SCXW211568987 BCX0\">process<\/span><span class=\"NormalTextRun SCXW211568987 BCX0\">es<\/span><span class=\"NormalTextRun SCXW211568987 BCX0\"> to enable companies to<\/span> <span class=\"NormalTextRun SCXW211568987 BCX0\">monitor<\/span><span class=\"NormalTextRun SCXW211568987 BCX0\"> and measure key <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">metrics<\/span> that will drive performance and mitigate risk.<\/span><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"has_eae_slider elementor-section elementor-top-section elementor-element elementor-element-db7806e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-eae-slider=\"73845\" data-id=\"db7806e\" data-element_type=\"section\" data-e-type=\"section\" data-settings='{\"pix_scale_in\":\"none\"}'>\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-744151f\" data-eae-slider=\"55696\" data-id=\"744151f\" data-element_type=\"column\" data-e-type=\"column\" data-settings='{\"pix_scale_in\":\"none\"}'>\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4adc296 elementor-widget elementor-widget-heading\" data-id=\"4adc296\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Here are 6 ways companies can combat supply chain disruption:&nbsp;<\/h2>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"has_eae_slider elementor-section elementor-top-section elementor-element elementor-element-3e88233 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-eae-slider=\"68734\" data-id=\"3e88233\" data-element_type=\"section\" data-e-type=\"section\" data-settings='{\"pix_scale_in\":\"none\"}'>\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-66 elementor-top-column elementor-element elementor-element-111f533\" data-eae-slider=\"73941\" data-id=\"111f533\" data-element_type=\"column\" data-e-type=\"column\" data-settings='{\"pix_scale_in\":\"none\"}'>\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-89f6478 elementor-widget elementor-widget-heading\" data-id=\"89f6478\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">1. Enhance Your Data with AI (Artificial Intelligence):<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5249aff elementor-widget elementor-widget-text-editor\" data-id=\"5249aff\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span class=\"TextRun SCXW94424752 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW94424752 BCX0\">Data that is readable and hosted on a centralized <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">dashboard<\/span> is key for procurement departments to gain visibility into their supply chain for <\/span><span class=\"NormalTextRun SCXW94424752 BCX0\">accurate<\/span><span class=\"NormalTextRun SCXW94424752 BCX0\"> forecasting. Utilizing cloud-based procurement solutions gives procurement leaders greater visibility into the supply chain, allowing procurement managers to <\/span><span class=\"NormalTextRun SCXW94424752 BCX0\">identify<\/span><span class=\"NormalTextRun SCXW94424752 BCX0\"> and proactively manage potential bottlenecks. High-quality data increases flexibility, allowing you to increase the scope of your supplier options. AI&nbsp;will cleanse, append, and classify your data, reducing the burden on organizations. AI-driven&nbsp;<span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">data enrichment<\/span> tools can also provide your company with granular item-level visibility allowing procurement teams to <\/span><span class=\"NormalTextRun SCXW94424752 BCX0\">identify<\/span><span class=\"NormalTextRun SCXW94424752 BCX0\"> which specific items are most likely to be affected by supply chain disruptions. With AI handling the heavy lifting, <\/span><span class=\"NormalTextRun SCXW94424752 BCX0\">you&rsquo;re<\/span><span class=\"NormalTextRun SCXW94424752 BCX0\"> free to focus on deriving actionable insights from the data.<\/span><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-89dba34 elementor-widget elementor-widget-heading\" data-id=\"89dba34\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">2. Be Proactive Instead of Reactive:<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e9c2da4 elementor-widget elementor-widget-text-editor\" data-id=\"e9c2da4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span class=\"TextRun SCXW27721384 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW27721384 BCX0\">Maintaining<\/span><span class=\"NormalTextRun SCXW27721384 BCX0\"> short inventories can negatively affect the P&amp;L, so companies need to increase buffer stock to mitigate the negative impact of any supply chain disruptions.&nbsp;<\/span><span class=\"NormalTextRun SCXW27721384 BCX0\">Procurement leaders should be able to quickly refine their inventory strategy in an unexpected supply shortage.<\/span><span class=\"NormalTextRun SCXW27721384 BCX0\"> Such strategies might include increasing buffer stock, tracking inventory with batch numbers,&nbsp;and\/or <\/span><span class=\"NormalTextRun SCXW27721384 BCX0\">utilizing<\/span><span class=\"NormalTextRun SCXW27721384 BCX0\"> <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">predictive analytics<\/span> to <\/span><\/span><span class=\"TextRun SCXW27721384 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW27721384 BCX0\">anticipate<\/span><span class=\"NormalTextRun SCXW27721384 BCX0\"> shortages.<\/span><span class=\"NormalTextRun SCXW27721384 BCX0\"> AI-enriched spend data <\/span><span class=\"NormalTextRun SCXW27721384 BCX0\">from a best-in-class <a href=\"https:\/\/simfoni.com\/spend-analytics\/what-is-spend-analytics-why-and-how-it-is-implemented\/\" data-internallinksmanager029f6b8e52c=\"24\" title=\"Spend Analytics\" target=\"_blank\" rel=\"noopener\">spend analytics<\/a> platform will allow you to <\/span><span class=\"NormalTextRun SCXW27721384 BCX0\">anticipate<\/span><span class=\"NormalTextRun SCXW27721384 BCX0\"> any supply disruptions and form a solid strategy to lessen their impact.<\/span><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-45bd7e9 elementor-widget elementor-widget-text-editor\" data-id=\"45bd7e9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"color: #ff6600;\"><strong>Read More:-<\/strong><\/span> <strong><a href=\"https:\/\/simfoni.com\/procurement-strategy\/5-ways-to-improve-supply-chain-management-strategy-in-2023\/\" target=\"_blank\" rel=\"noopener\">5 Ways to Improve Your Supply Chain Management Strategy in 2023<\/a><\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-66b21d7\" data-eae-slider=\"20355\" data-id=\"66b21d7\" data-element_type=\"column\" data-e-type=\"column\" data-settings='{\"pix_scale_in\":\"none\"}'>\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1ada380 elementor-widget elementor-widget-text-editor\" data-id=\"1ada380\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<iframe src=\"https:\/\/simfoni.com\/web-stories\/6-ways-companies-can-overcome-supply-chain-disruptions\/\" width=\"auto\" height=\"550px\"><\/iframe>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"has_eae_slider elementor-section elementor-top-section elementor-element elementor-element-b9c26da elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-eae-slider=\"43137\" data-id=\"b9c26da\" data-element_type=\"section\" data-e-type=\"section\" data-settings='{\"pix_scale_in\":\"none\"}'>\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-10d6e50\" data-eae-slider=\"56105\" data-id=\"10d6e50\" data-element_type=\"column\" data-e-type=\"column\" data-settings='{\"pix_scale_in\":\"none\"}'>\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d1d376f elementor-widget elementor-widget-heading\" data-id=\"d1d376f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">3. Develop a Risk Management Plan:<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4440ad0 elementor-widget elementor-widget-text-editor\" data-id=\"4440ad0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span class=\"TextRun SCXW123030135 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW123030135 BCX0\">Procurement leaders must prep their teams for a crisis event. Should one occur, everyone should know their responsibilities and have a clear action plan. The plan should include priorities such as <a href=\"https:\/\/simfoni.com\/sourcing\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Sourcing\" target=\"_blank\" rel=\"noopener\">sourcing<\/a> alternatives, emergency orders or requests, and management of inbound shipments. This plan should be updated consistently to account for changes in business operations and the evolving risks that your organization faces.<\/span><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"has_eae_slider elementor-section elementor-top-section elementor-element elementor-element-44893cb elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-eae-slider=\"24700\" data-id=\"44893cb\" data-element_type=\"section\" data-e-type=\"section\" data-settings='{\"pix_scale_in\":\"none\"}'>\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-31dfe52\" data-eae-slider=\"63924\" data-id=\"31dfe52\" data-element_type=\"column\" data-e-type=\"column\" data-settings='{\"pix_scale_in\":\"none\"}'>\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4ec7da7 elementor-widget elementor-widget-heading\" data-id=\"4ec7da7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">4. Improve and Sustain Key Supplier Relationships:<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cdf845e elementor-widget elementor-widget-image\" data-id=\"cdf845e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1800\" height=\"942\" src=\"https:\/\/simfoni.com\/wp-content\/uploads\/2023\/01\/Supply-Chain-Disruptions-1.png\" class=\"attachment-full size-full wp-image-47900\" alt=\"Supply Chain Disruptions\" srcset=\"https:\/\/simfoni.com\/wp-content\/uploads\/2023\/01\/Supply-Chain-Disruptions-1.png 1800w, https:\/\/simfoni.com\/wp-content\/uploads\/2023\/01\/Supply-Chain-Disruptions-1-300x157.png 300w, https:\/\/simfoni.com\/wp-content\/uploads\/2023\/01\/Supply-Chain-Disruptions-1-1024x536.png 1024w, https:\/\/simfoni.com\/wp-content\/uploads\/2023\/01\/Supply-Chain-Disruptions-1-768x402.png 768w, https:\/\/simfoni.com\/wp-content\/uploads\/2023\/01\/Supply-Chain-Disruptions-1-1536x804.png 1536w, https:\/\/simfoni.com\/wp-content\/uploads\/2023\/01\/Supply-Chain-Disruptions-1-150x79.png 150w\" sizes=\"(max-width: 1800px) 100vw, 1800px\"\/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7e8e6c0 elementor-widget elementor-widget-text-editor\" data-id=\"7e8e6c0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span class=\"NormalTextRun SCXW159555242 BCX0\">Companies that <\/span><span class=\"NormalTextRun SCXW159555242 BCX0\">maintain<\/span><span class=\"NormalTextRun SCXW159555242 BCX0\"> strong relationships with their suppliers are better positioned to handle supply chain disruptions. To improve upon these relationships, suppliers should be <\/span><span class=\"NormalTextRun SCXW159555242 BCX0\">consolidated<\/span><span class=\"NormalTextRun SCXW159555242 BCX0\"> by analyzing their ability to handle disruptions and any potential risks of doing business with them. Collaborate with them to understand their level of flexibility when it comes to production and purchase order fulfillment.&nbsp;<\/span><span class=\"NormalTextRun SCXW159555242 BCX0\">Supplier&nbsp;scorecards can be a great way to keep track of vendor management and performance.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e4f59db elementor-widget elementor-widget-text-editor\" data-id=\"e4f59db\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"color: #ff6600;\"><strong>Read More:-<\/strong><\/span>&nbsp; <strong><a href=\"https:\/\/simfoni.com\/procurement-strategy\/5-things-procurement-should-lose-in-2023\/\" target=\"_blank\" rel=\"noopener\">5 Things Procurement Should Lose in 2023<\/a><\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c874e77 elementor-widget elementor-widget-heading\" data-id=\"c874e77\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">5. Identify Secondary Suppliers:<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-48d3617 elementor-widget elementor-widget-text-editor\" data-id=\"48d3617\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span class=\"TextRun SCXW99891709 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW99891709 BCX0\">The supply chain is often extended beyond the first tier. As mentioned above, <\/span><span class=\"NormalTextRun SCXW99891709 BCX0\">it&rsquo;s<\/span><span class=\"NormalTextRun SCXW99891709 BCX0\"> important to <\/span><span class=\"NormalTextRun SCXW99891709 BCX0\">maintain<\/span><span class=\"NormalTextRun SCXW99891709 BCX0\"> a&nbsp;<\/span><\/span><a class=\"Hyperlink SCXW99891709 BCX0\" href=\"https:\/\/www.mckinsey.com\/business-functions\/operations\/our-insights\/supply-chains-to-build-resilience-manage-proactively\" target=\"_blank\" rel=\"noreferrer noopener\"><span class=\"TextRun Underlined SCXW99891709 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW99891709 BCX0\" data-ccp-charstyle=\"Hyperlink\">clear line of sight<\/span><\/span><\/a><span class=\"TextRun SCXW99891709 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW99891709 BCX0\">&nbsp;to suppliers and their vulnerabilities. But in addition, <\/span><span class=\"NormalTextRun SCXW99891709 BCX0\">it&rsquo;s<\/span><span class=\"NormalTextRun SCXW99891709 BCX0\"> necessary to extend your reach along the supply chain to <\/span><span class=\"NormalTextRun SCXW99891709 BCX0\">identify<\/span><span class=\"NormalTextRun SCXW99891709 BCX0\"> and cultivate relationships with secondary suppliers who can <\/span><span class=\"NormalTextRun SCXW99891709 BCX0\">provide<\/span><span class=\"NormalTextRun SCXW99891709 BCX0\"> alternative sources. <\/span><span class=\"NormalTextRun SCXW99891709 BCX0\">This allows you to maintain continuity of your operations if your primary supplier encounters a disruption.<\/span><span class=\"NormalTextRun SCXW99891709 BCX0\"> Remember: no two supply chains are the same.<\/span><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c289367 elementor-widget elementor-widget-heading\" data-id=\"c289367\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">6. Partner with a Marketplace Solution:<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1bacd84 elementor-widget elementor-widget-text-editor\" data-id=\"1bacd84\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span class=\"NormalTextRun SCXW9361152 BCX0\">While <\/span><span class=\"NormalTextRun SCXW9361152 BCX0\">it&rsquo;s<\/span><span class=\"NormalTextRun SCXW9361152 BCX0\"> critical to <\/span><span class=\"NormalTextRun SCXW9361152 BCX0\">maintain<\/span><span class=\"NormalTextRun SCXW9361152 BCX0\"> close relationships with suppliers, <\/span><span class=\"NormalTextRun SCXW9361152 BCX0\">it&rsquo;s<\/span><span class=\"NormalTextRun SCXW9361152 BCX0\"> equally important to understand their <\/span><span class=\"NormalTextRun SCXW9361152 BCX0\">capacity<\/span><span class=\"NormalTextRun SCXW9361152 BCX0\">.&nbsp;<\/span><span class=\"NormalTextRun SCXW9361152 BCX0\">A good marketplace solution allows companies to <\/span><span class=\"NormalTextRun SCXW9361152 BCX0\">find new supply sources quickly and conveniently<\/span><span class=\"NormalTextRun SCXW9361152 BCX0\"> should first and second-tier suppliers fall short.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-02f5c7f elementor-widget elementor-widget-text-editor\" data-id=\"02f5c7f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><strong><span class=\"NormalTextRun SCXW224011321 BCX0\"><span style=\"color: #ff6600;\">Ready to take your data to the next level?<\/span> <a href=\"https:\/\/simfoni.com\/demo\/\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #008080;\">Schedule a demo and learn firsthand how <\/span><\/a><\/span><a href=\"_wp_link_placeholder\"><span style=\"color: #008080;\"><span class=\"NormalTextRun SpellingErrorV2Themed SCXW224011321 BCX0\">Simfoni<\/span><span class=\"NormalTextRun SpellingErrorV2Themed SCXW224011321 BCX0\">&rsquo;s<\/span><span class=\"NormalTextRun SCXW224011321 BCX0\"> powerful <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">eSourcing<\/span> solution<\/span><span class=\"NormalTextRun SCXW224011321 BCX0\">&nbsp;<\/span><span class=\"NormalTextRun SCXW224011321 BCX0\">can <\/span><span class=\"NormalTextRun SCXW224011321 BCX0\">help you overcome supply chain disruptions.<\/span><\/span><\/a><\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>With the ever-increasing dependence on global supplier networks to fulfill procurement needs, companies must begin to integrate new technology into their procurement process Simfoni.com Tweet Due to multiple issues ranging from socio-economic and political issues to the pandemic, supply chains&hellip;<\/p>\n","protected":false},"author":1,"featured_media":47895,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"give_campaign_id":0,"footnotes":""},"categories":[2787],"tags":[2788,2789,2775],"class_list":["post-47892","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-supply-chain","tag-supply-chain","tag-supply-chain-management","tag-sustainable-procurement"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>6 Ways Companies Can Overcome Supply Chain Disruptions<\/title>\n<meta name=\"description\" content=\"Due to multiple issues ranging from socio-economic and political issues to the pandemic, supply chains throughout the world have been disrupted, causing billions of dollars in lost 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