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Follow on Google News | Events During the Past Year Reinforce the Need For Supply Chain Risk Analysis & Business ContinuityMultiple events over the past year once again underscore the critical need to develop comprehensive business continuity plans in light of supply chain vulnerabilities.
By: Becky Boyd “Heightened risks and outright disruptions are coming at us at a furious pace and it is absolutely critical that firms be prepared with detailed contingency plans,” said Dr. Jeff Karrenbauer, president of INSIGHT, Inc. “For example, over the past year we have witnessed significant crop failures which roiled commodity futures. We now have strong evidence that the Chinese are stockpiling rare earth metals, substances critical to a host of industries. They have also put into place or proposed onerous local content and ownership restrictions, such as those in the automobile industry.” Economic instability and political unrest are increasingly commonplace across the globe, calling into question the survival of governments and economic policies which underpin critical planning assumptions: “Firms have a tendency to put off contingency planning until the next crisis hits,” adds Dr. Karrenbauer. “Well, guess what? They need wait no longer. The future is now.” Impacts as varied and pervasive as those generated by raw material shortages, petroleum supply disruptions and unstable governments mandate the use of powerful analytical tools specifically designed to address global supply chain issues. The ripple effects of significant cost changes and/or capacity disruptions simply cannot be handled by simplistic approaches such as “next best.” “The typical reaction of management,” Yet, Dr. Karrenbauer, who has been evangelizing for years about the need for companies to understand their supply chain vulnerabilities, fears that too many companies will simply shrug their shoulders once again. “Several years ago Aberdeen reported that only 13% of the companies they surveyed about this question had formally addressed supply chain vulnerabilities,” INSIGHT performs detailed audits on supply chains to uncover vulnerabilities and offers solutions for managing and mitigating risk to enhance resiliency. A key component of the process is “war-gaming” ABOUT INSIGHT, INC. INSIGHT provides optimization- SAILS, INSIGHT's award-winning flagship product, can accurately represent a company's current business practices, from raw materials sourcing to capacity planning through delivery to the end customer. Insight Enterprise Strategy (IES) is the first and only product which combines full supply chain design capabilities with the cost and demand impact of marketing initiatives, thereby generating profit-maximized corporate strategies. The X-System®, a proprietary optimization engine, powers a family of powerful analytical tools, including the design of global supply chains, shipment planning and dispatching, production planning and scheduling and transportation procurement. In addition, INSIGHT provides optimization components, partnering with third party software providers to deliver best-of-breed solutions. Our software and services help firms minimize costs, maximize profits, free up capital, streamline operations, and increase customer service levels. For more information, please visit us on the Web at http://www.insightoutsmart.com. # # # Boutique PR & Marketing Services firm specializing in Internet, IT, supply chain, logistics, transportation, manufacturing, health care, and telecom markets. End
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