Managing supply chain risks

It’s been 65 days* since Australia’s first confirmed case of COVID-19. Since then, we’ve seen a flurry of panic-buying, stock market plunges (and small recoveries), major events and gatherings cancelled, and staff working from home in an effort to slow the spread of the virus.

If our supermarket shelves are anything to go by, managing your supply chain is now more important than ever. Any business that sources goods or services should be asking the following:

  • Do we have a detailed map of our supply chains and have we identified where we’re most exposed?
  • Do we have accurate and up-to-date inventory levels, and adequate contingencies?
  • Do we still require certain services at this time or should we reschedule?
  • Have we identified our long lead items and when will these need replenishing?
  • Do we have knowledgeable personnel managing our supply chain?
  • Are our people set up to work productively and safely from home?
  • Do our contracts adequately cover force majeure?

We have the expertise to provide advice and manage your supply chain risks, especially during periods of uncertainty or volatility. Contact us for further information.

*First confirmed case in Australia 25 Jan 2020 (source: Australian Dept of Health)