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Supply Chain Industry Updates

Everybody Wants Some Resilience — How ’bout You?

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Of course you do. Resilience has been the talk and holy grail of supply chain leaders ever since the first consumer noticed the absence of toilet paper at their local market earlier this year.

For the past 6+ months, resilience has been the subject of innumerable articles, white papers, posts, podcasts, videos and (probably) sleepless nights. It’s kept us occupied, too.

Now, to give you a better sense of just how some of your peers are doing in their race to resilience, the Economist Intelligence Unit (EIU) and Association for Supply Chain Management (ASCM) have announced they are developing a benchmarking tool to assess real-time and strategic supply chain resilience in publicly listed companies. They plan to release it in early 2021.

“The EIU’s forthcoming analysis will combine data from a survey of corporate executives with financial and ESG [environmental, social and corporate governance] data for companies in three key sectors: pharmaceuticals, retail and consumer technology manufacturing,” EIU explained in an announcement today. “By providing evidence-based assessments of industry and cross-industry practices, we hope that the benchmark will give companies actionable recommendations about how they can invest in modern supply chain resilience.”

Also this week, EIU and ASCM released a report titled “Supply Chain Resilience for an Era of Turbulence.” You can download it here.

The white paper cites Dr. Joseph Fiksel of the Risk Institute at the Ohio State University, who nails the current situation with this quote: “Classic risk management can’t protect companies against today’s turbulent change and more frequent disruptions.”

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