With the protracted US-China trade wars only recently abating and the outbreak of COVID-19, supply chain disruption continues to loom large. Whether threats to sourcing are geopolitical, viral, or climatic, it’s never been more clear to product developers that securing their supply chain is mission-critical.
At Pivot International, we’re a qualified Essential and Critical Supplier that’s helping companies weather disruption. With nearly a half-century of experience across twelve industries, 200,000 square feet of manufacturing capability, and the latest in supply chain digitization, we deliver effective solutions for businesses seeking both short- and longer-term solutions to the current sourcing crisis.
How can product developers not only survive but also thrive amid global upheaval? Here are three approaches for successfully navigating supply chain disruption.
Diversification can help to mitigate risk by ensuring companies can maintain continuity across the multiple connected links that comprise the integrity and security of the supply chain. The proverbial wisdom of not putting too many eggs in a single basket is illustrative of the necessity of diversification to supply chain health. Sourcing from a single supplier is risky at best and catastrophic at worst, and a distributed network of suppliers and facilities can greatly mitigate the danger of disruption.
Pivot’s highly diversified and distributed global supply chain network has enabled it to largely protect its partners from disruption related to trade tensions and, most recently, the COVID-19 pandemic. Although the virus has introduced challenges to China-based facilities, Pivot has helped its customers successfully surmount these challenges by providing alternative supply chain solutions via its two Philippines-based locations.
In supply chain management, transparency refers to how deeply companies can see into and account for the interconnected links in their supply chain and how freely they share this information, both internally and externally. A lack of transparency can pose operational issues that can halt business. For instance, shipments missing origin documents can be held up at port and this costly issue can ripple through the entire supply chain. Additionally, amid global disruptions, transparency can support compliance in the face of changing regulations, and help companies identify and act on opportunities to resolve supply chain interruptions, as well as improve overall efficiency and performance.
Digitization, which is the adoption and deployment of innovative digital technologies like AI, SMT, and blockchain platforms, can help companies build agility, reliability, and scalability in supply chain logistics by managing and “opportunizing” complexity. Applying innovations like these to the value chain can increase visibility and transparency, allowing manufacturers to make rapid changes to their operations to respond to emerging threats or market-based opportunities.
At Pivot International, we’re helping companies successfully navigate global supply chain disruption and a rapidly changing market. As a single-source product development, design, engineering, and manufacturing company with seven locations worldwide, we deliver advanced supply chain solutions for businesses of all types, from startups to enterprise organizations.
If your company is confronting sourcing challenges due to COVID-19 or other threats, contact us today to learn more about how we can help you secure your supply chain and fortify your business for the future.