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Challenges in Supply Chain

The 5 Keys to Build a Resilient Framework in Supply Chain in 2023

Written by Xiomara Overman - Firma

ActiV International Trade Services C.V

This week we could read that there are still Challenges in the Supply Chain Industry

The Supply Chain were recently affected by the Zero Covid Policy from China and fluctuating Fuel Prices and elevating Energy Prices.

"The price of gasoline increased 17.5% in the 12 months ended October compared to the 18.2% annual increase in September, according to the most recent inflation data published Nov. 10, 2022," by the U.S. Labor Department's Bureau of Labor Statistics (BLS).

That's why in the Forecast for 2023 it's important to include 5 Essential Keys in Your Company's Supply Chain Framework with the focus on have a resilient Framework.

The 5 Important Keys are:

  1. Maintain a Risk Management Analysis Network

  2. Become Self Reliant in important Company's Operational Processes 

  3. Identify hidden costs that may affect the Operational Process in Your Supply Framework

  4. Create a Network of Suppliers that won't be directly affected by Logistic challenges 

  5. Consider invest in more Automatic In House Processes for Warehouse Management to avoid delivery challenges

Resource: All the mentioned keys are inspired by Business News and Business Trends articles and Latest News on several Business News websites in no particular order.

Read more about the elevating Energy Prices in this article

Stay Tuned for next week Business News on ActiV Blog 

Bio: Xiomara Overman - Firma is specialized in Business Operations, Franchise Consultant and Business Procedures

Certified Export Advisor and Certified Hotel Management Advisor

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