Stay Ahead with Predictive Analytics and KPIs
It’s essential to measure the resilience of a supply chain—as well as the sub-supply nodes that reside within it. Predictive analytics begins by asking the right questions to help you itemize the possible elements of risk.
These may include:
What parts are sole-sourced?
Which supplier are they coming from?
Are they coming from a region that’s geographically known to have disruptions?
What is the lead time of the part and is it changing all the time?
Is it a constrained material?
Does it involve regulatory compliance?
Once these elements are understood, risk becomes more quantifiable and more predictable for the short and long term. Informed tactics can be developed to address these risks and maintain business continuity.
“It is important to establish a Supplier Management Toolkit that engages with your suppliers through developing capability and value; open, two-way transparent communication; focusing on preventing defects; measuring performance and delivering excellence.”
— Paul Kelly, Senior Director of Strategic Sourcing, Celestica