September 22, 2020
Logistics Manager Analysis: Supply Chain Risk Management – the stakes are highCOVID-19, though far from being a thing of the past, has granted supply chain leaders the opportunity to approach their future plans with lessons learned from hindsight analysis. As we prepare for potential second, third, and continued waves of COVID spikes, leaders need to remain focused on one very important variable: Mitigating supply chain risk.
In a recent article from Logisitics Manager, Madhav Durbha, group vice-president, EMEA, at LLamasoft, discusses why implementing advanced technologies, and not relying on traditional planning methods alone, is the key to risk mitigation and making smarter, more comprehensive decisions.
“Modern supply networks are extremely complex, and the various functions are highly interdependent, though they tend to operate in silos,” says Durbha. “However, the emerging digital twin technology can help draw end-to-end connections and provide visibility across these silos. Advanced AI powered algorithms can be deployed on top of the digital twin to perform a variety of scenarios and simulations to help assess supply risks and mitigation plans.”
Read the full article below.