How to Find the Blind Spots in Your Supply Chain

Managing a business means paying attention to the details. It’s not uncommon for businesses to struggle due to bad supply chain management. They make decisions, commonly, to boost profits or trim back where they think it’s going to save money. Yet, this nearly always leads to costly mistakes later.

Mistakes like this have happened to many organizations. In 2017, the luxury German car maker BMW AG was forced to halt production of its lineup of vehicles due to a parts shortage. The company’s global supply chain was ground to a halt thanks to a single part’s inaccessibility from an international supplier. That is a direct hit to profits.

Other times, mistakes like this translate into brand damage. Reputation is everything for a company. When there’s a lack of visibility in the supply chain, it can lead to hidden problems that often arise with damaging results, often unethical practices that can damage a company’s reputation in moments. One example was the revelation that cobalt being used by companies such as Volkswagen AG and Apple Inc (along with 20 other manufacturers) was being dug by Congolese children and miners working in inhumane conditions.

So, what can you do to avoid these supply chain pitfalls?