Facing ingredient delivery delays during peak production seasons?

Drawing from my experience during COVID-19 and recent geopolitical events, I've witnessed the vital importance of effective planning underpinned by strong corporate governance. By emphasizing transparency and accountability, we can build resilience through collaborative forecasting, supplier diversification, and real-time risk management. These measures not only protect against disruptions but also ensure that our supply chain operates ethically and remains robust in the face of global challenges.

One of the most illustrative cases of this in action is pharmaceutical industry during the COVID-19 pandemic. The companies approach to inventory management serves as a powerful example of how smart inventory practices can protect against the pitfalls of delayed deliveries and supply chain disruptions. By maintaining buffer stock, utilizing FIFO systems, implementing advanced inventory tracking, employing demand forecasting and predictive analytics, managing supplier relationships, and adopting lean practices, companies ensured a steady supply of vaccines, at minimized waste, and maintained the quality and efficacy of their products, demonstrating the critical role of robust inventory management in the pharmaceutical sector.

From the sunflower oil and wheat shortages from Ukraine, Avocado shortage due to Mexican importation ban to general disruptions caused by global shipping delays, I’ve seen how critical it is to monitor industry trends and market conditions. Being aware of potential issues, such as ingredient shortages or transportation strikes, allows companies to act swiftly—adjusting orders or securing alternatives before disruptions occur. This proactive approach goes beyond just staying informed; it involves maintaining active communication with suppliers and industry peers to anticipate challenges. By doing so, multinational food companies can mitigate risks and ensure continuous production, even in uncertain times.