Dealing with interruptions to the supply chain

With spring getting close, it is easy to think of good times ahead. With so many current and potential disruptions to supply chain flows, it is critical to have backup plans in place to protect your customers. Such things as: disease epidemics, trade disputes, embargoes, labor strikes, wars, political events, severe weather destruction, equipment failures, economic downturns, ransomware, and poor product quality, can cause substantial harm to established product production and delivery channels. The establishment of an approved second source can help to minimize the length of the supply interruption as well as the total cost associated with production downtime, expedite fees, and the possible loss of a customer. The establishment of a backup source of supply for critical (non-standard) components is an essential part of any successful procurement strategy.