March 19, 2020

AI & Automation Aid Supply Chain in Wake of Covid-19

Resilinc

 

AI & Automation Aid Supply Chain In Wake Of Covid-19

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eps news

 

 

Artificial intelligence and workflow automation are assisting manufacturers in Covid-19 management. Overall, though, the industry isn’t as well prepared as it could be.

In the 10 years since H1N1, said Resilinc Founder and CEO Bindiya Vakil, most organizations have not updated pandemic plans; many organizations are completely unprepared and have no plan; or people have moved on and no one is aware of what the plan is.

The Harvard Business Review came to a similar conclusion in a Basware-sponsored  study. More than 60 percent of respondents say that a lack of visibility into their suppliers’ practices is a significant risk management issue. And many say they lack the tools to evaluate or monitor those vendors.

As a result, nearly a quarter of HBR respondents said their organization is not accurately evaluating their suppliers’ business practices. At a time when raw materials and components, manufacturers, and consumers are increasingly geographically dispersed, maintaining visibility throughout the supply chain is more important than ever—and more difficult.

Read the complete article from  at EPS News>>

 

Topics: supply chain risk management, SCRM Best Practices, supply chain resilience, supply chain risk, Supply Chain Impact, business continuity, coronavirus update, supply chain delays