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Modern-day organizations have always aimed for lean operations with zero inventory by establishing a balanced flow of supply and avoiding maintenance of buffer stocks to absorb uncertainties. When people do not have to face the uncertainties for a long period of time, it becomes difficult for them to appreciate the need of resiliency over efficiency. However, this pandemic has brought a fresh focus on the resiliency of supply chains with a high amount of urgency due to its scope and scale. The supply chain risk and resilient processes work at various levels of the entire value chain on both the supply and demand side including the manufacturing operations. However, the ultimate success depends on the availability of the inventory at the right place, at right time, and in the right quantity without creating inventory buffers and compromising efficiency. |
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