As supply chain disruption looks set to hamper the holiday shopping period, Jennifer Bisceglie, CEO and founder of Interos, comments below on how UK organisations can ensure greater supply chain resliency:

“It’s probably now unavoidable that this year’s holiday shopping and Black Friday sales will be hampered by the global current supply chain woes. UK shoppers are already extending their purchasing period to avoid supply chain issues and delivery delays that could wreak havoc on the holidays.

“The current supply chain crisis should act as a lesson regarding the vital case for operation resiliency. Entrenched legacy methods of enterprise supply chain risk management methods lag behind new risks, subjecting companies to additional disruption and resulting in rising costs that are passed onto the buying public. Such supply chain shocks are also causing debilitating effects on large organisations, especially financially, with the average large company losing £137 million due to supply chain disruption annually. With so much on the line, businesses need to know if their current supply chain risk management tools and processes are up to the challenge.

“So far, we have found that only 34 percent of enterprise decision makers assess their global supply chain on a continuous basis.* This does not paint a picture of companies future-proofed against whatever supply shock occurs next. It starkly highlights that the majority of organisations are operating with large gaps in their supplier visibility and risk mitigation solutions. This year’s likely chaotic UK holiday shopping season should clearly display the need for holistic AI-powered supply chain visibility to offset costs that disrupt UK social life and cost both organisations and the consumer.”

https://www.interos.ai/resources/whitepaper-supply-chain-disruptions-and-the-status-quo/