CHANGING TRENDS
Supply Chain Resiliency Programmes
Witness a 3x Increase from Indian Companies
Q. From being a ‘nice to have’ to a ‘must have’, how does supply chain risk feature as a critical cog in the business machinery? Supply chain risk management (SCRM) has gone from a ‘nice to have’ to a board-level initiative.
And recent Gartner surveys have backed this up:
87% of companies are currently investing in more
thought of as a critical cog in the business machinery. Profits depend on it.
Q. How does awareness / implementation of SCRM in India compare with that of overseas?
resilient supply chains. This isn’t a surprise given
Every country’s supply chain has been disrupted
disruptions caused by geopolitical conflicts
This awareness is inclusive of both businesses
that in the last year, there have been catastrophic
and awareness of SCRM is at an all-time high.
and severe weather, as well as unprecedented
and governments.
transportation and production delays due to COVID-19. We are now facing labour, container and raw material shortages.
Businesses must realise that no supply means no revenue, and no revenue means no profit. Think about the chip shortage - this crippling disruption
and loss of billions of dollars is occurring because organisations are not able to secure a $5 chip.
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Supply chain risk management needs to be
While India hasn’t historically focused on SCRM, the pandemic and the subsequent supply chain
fallout have been a wake-up call on the need to
adjust and invest in supply chain infrastructure. To know more, please subscribe to Polymers Communiqué at
subscriptions@polymerscommunique.com
POLYMERS Communiqué l October - November 2021
