Yang discussed ways that supply chain leaders can improve the current, highly disrupted state of supply chains. He offered three suggestions:
- Bring production and warehousing back to the home country or closer to end markets, moving away from offshoring that put production sites far from their end markets in favor of lower costs.
- Take a supply network perspective, as opposed to a supply chain perspective, and build in additional suppliers instead of overly relying on a single supplier.
- Prepare for a rainy day with additional inventory for unexpected demand.
If the items above threaten to introduce more cost and introduce pushback, Yang noted: “Companies need to lower costs by being more efficient”
