7 Levers to Reduce Supply Chain Risk and Cost
October 28, 2020
How do you free up working capital in your supply chain?
For the first few months of the pandemic, most businesses prioritized de-risking their supply chains—even at the expense of higher costs.
And while larger value chain transformation may be off the table for some companies until the economy improves, there are several levers to pull that can deliver significant near-term savings.
Are you pulling the right levers? Review our checklist to make sure:
- Perform SKU segmentation to improve ordering and forecasting accuracy.
- Consider low-cost country sourcing options, tax laws and financial incentives for relocation.
- Perform spend analysis to select the most qualified supplier or service vendor for the job at the lowest price.
- Reduce transportation costs by shortening routes or using more cost-effective modes of transportation.
Learn more about the levers that can help you free up capital and improve overall supply chain resilience.