From the course: Supply Chain Foundations: Risk and Resilience

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Create agility and flexibility

Create agility and flexibility

From the course: Supply Chain Foundations: Risk and Resilience

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Create agility and flexibility

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- We have a saying in England, look after the pennies and the pounds will look after themselves. To gain advantage in supply chains, we need to be great stewards of all the resources, looking after the pennies, our financial resource, as well as the environmental resource and the people we are working with in the supply chain. All this while being flexible and adaptive. We must be lean but at the same time, agile. There is an important balance between lean and agile. An overly bulky business is rarely agile but we also need to be careful about businesses becoming so lean, they have no padding, no surplus resources to absorb the shock when disruptions occur. Supply chain agility is about making rapid strategic and operational changes to adapt and change to unpredictability in the business environment. Agility implies responsiveness from one end of the supply chain to the other. It is not a single company concept. We…

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