5/24/23, 4:36 AM W8: Lessons Learned and Future Perspectives – SCMG301 B001 Spring 2023
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W8: Lessons Learned and Future Perspectives
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Week 8 Discussion: Lessons Learned and Future Perspectives
CO7: Assess future directions in SCRM.
Discussion Prompt:
How have your perspectives changed as we complete this course? We have readabout lessons learned in managing supply risk and we have content thatconsiders the future direction in SCRM. What steps do you think companiesshould be taking to become more resilient while also being profitable andcompetitive in the marketplace?
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W8 DisccusionDarrian Kelly posted May 22, 2023 10:36 PM Subscribe
Hello everyone,
This class has been extremely educational and interactive. I have learned many things
regarding logistics that I never even thought were facts. Over the past seven weeks my
5/24/23, 4:36 AM W8: Lessons Learned and Future Perspectives – SCMG301 B001 Spring 2023
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Javad Seyed
views on supply chain management and supply chain risk management have changed for
the better. I now have a newfound respect for logisticians.
With everything we learned, one aspect I want to point out is that companies should
exercise holistic strategic planning towards supply chain risk management. This will
enhance their resilience. Also Evaluating existing operations and safety standards at every
echelon within the supply chain, creating broad communication networks with suppliers
and key players, providing better training on risk management, fostering safety,
understanding environmental hazardous laws and policies, and staying true to ethics and
codes.
I also believe companies should Invest in safe production mechanisms, innovative
technological ideas, hardware systems that promote information sharing with suppliers,
and the ability for customers and supply chain managers to identify and fix issues relating
to supply chain and risk management. Then comes Risk planning which involves laying
strategic plans and alternative options that will be used to minimize risks in terms of
uncertainties and how they should be addressed within a brief period. Companies should
constantly review their plans, suppliers and outsourcing alternatives, operational systems,
and partner coordinator mechanisms to create avenues to adapt to changing situations,
both natural and fabricated disasters.
Finally risk managers should ensure safety and environmental hazard policies and protocols
are observed and kept up to date. These are just my viewpoints on how a company can
remain profitable and competive. I hope everyone enjoyed this class! I know I did!
V/R
Darrian Kelly
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Week 8Adam Oldham posted May 23, 2023 1:57 AM Subscribe
I will say I really did not think of SCRM as its own discipline, that has really changed. As we
went through the class and learned more about supply chain risk management I really see
that it is an extremely valuable part of supply chain management. We all have become
aware of the inerrant risks of a narrow supply chain, SCRM has become a much more
valuable talent. After going through this class I believe that there are many things that
5/24/23, 4:36 AM W8: Lessons Learned and Future Perspectives – SCMG301 B001 Spring 2023
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Javad Seyed
companies can do to increase profitability and competitiveness. I truly believe that a strong
SCRM team could accomplish these goals, of course there are other things that may be
done depending on the company. When looking at it through a supply chain lens risk
management can play a significant role. As companies deal with issues that will come up
having primary, secondary and maybe even tertiary suppliers may be important. Using
SCRM to better predict and mitigate risk through planning and attempting to predict
supply chain disruptions that may come up and develop courses of action may in fact save
profits and in come cases entire companies. looking into some of the successful companies
that have implemented good supply chain risk management strategy such as Boeing,
Harley Davidson and others demonstrate the profits that can be made in addition to
increasing efficiently. As I continue to work toward up degree in supply chain management
risk is an area that I believe is an important aspect of efficiently and should not be
overlooked.
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WK8Tanishia Robinson posted May 23, 2023 9:41 AM Subscribe
Hello Class,
My perspective on this class has changed drastically. I always knew how
complex and important the supply chain industry can be, but the numerous
guidelines, rules, regulations are all essential into being very successful in the
supply chain industry. This industry can become very overwhelming and may
be a little too much at times, but as long as you have an indefinite
understanding of the industry; it is possible to mitigate risks.
Companies need to foster a culture of agility and adaptability to respond
effectively to changing market dynamics. This involves encouraging
innovation, empowering employees to make decisions, and being open to
new ideas and approaches. Relying too heavily on a single product or market
can make a company vulnerable. By diversifying revenue streams, such as
expanding into new markets, developing new products or services, or
exploring strategic partnerships, companies can reduce their risk and
increase their resilience. In addition, in today’s digital age, leveraging
5/24/23, 4:36 AM W8: Lessons Learned and Future Perspectives – SCMG301 B001 Spring 2023
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technology is crucial for staying competitive. Companies should invest in
technologies that can streamline operations, enhance productivity, improve
customer experiences, and enable data-driven decision-making. Most
importantly, Building and nurturing strong relationships with customers is
vital. By understanding customer needs and preferences, collecting
feedback, and providing exceptional customer service, companies can
enhance customer loyalty and gain a competitive edge. It was a great eight
weeks and I wish everyone the best of luck on your future endeavors.
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WK 8Cody Privette posted May 23, 2023 10:23 AM Subscribe
Hello Class,
It’s an understatement to say that my view on things has changed. Before taking this
course, my experience was solely in the military. But now, I understand just how
complicated it is to have a strong and adaptable supply chain. To make sure that they can
keep their supply chain safe, companies need to first figure out what kinds of risks they
might be facing. This can include things like natural disasters, events happening in the
world, problems with suppliers, changes in the economy, or changes to rules and
regulations. By doing a good job of looking at all the possible things that could go wrong,
they can figure out which risks are the biggest and how they should focus their efforts to
make things better. One way to make sure that the supply chain stays safe is to work with
lots of different suppliers and make sure they’re all in different places. This means that if
something bad happens in one part of the world, the company will still have other places
where they can get what they need. They can also make plans to work with backup
suppliers in case something goes wrong. It’s also important to be able to see what’s going
on in the supply chain at all times. This can be done using technology and tools that help
companies keep track of things like how much inventory they have, how their suppliers are
doing, and if there are any issues that might cause problems. By being able to see what’s
happening in real-time, they can quickly respond to any risks that come up and make sure
that everything stays on track. Working with other important people can also help make
things safer for everyone involved.
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Dorvil: W8: Lessons Learned and Future PerspectivesDOMINIQUE DORVIL posted May 23, 2023 11:29 PM
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Javad Seyed
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It seems like only yesterday…
All my time in the logistics career field could not prepare me for the knowledge gained in
this course. As a result, my perspectives have completely shifted. For example, before this
course, I had limited exposure to supply chain risk management aside from risk
management in the Army. However, now I have a newfound appreciation for its
importance and applicability.
To become more resilient, profitable, and competitive, companies should invest in
advanced technologies like artificial intelligence, machine learning, and blockchain to gain
real-time visibility into their supply chain, improve forecasting accuracy, and enable
effective risk monitoring. Doing so will help companies make data-driven decisions and
respond quickly to potential disruptions.
Another concept for companies to understand is multisourcing. Diversifying suppliers and
establishing a robust supplier network are important in reducing vulnerability to
disruptions. By understanding the supplier network and classifying suppliers based on their
revenue impact during disruptive events, companies can identify critical suppliers and
allocate business to multiple sources. This approach has the potential to enhance flexibility
and adaptability.
Additionally, I have learned that companies should adopt a strategic approach. This means
striking the right balance between risk mitigation measures and cost optimization. While
investing in risk mitigation strategies is important. Assessing the cost implications and
finding the optimal balance between risk reduction and cost efficiency is just as important.
Learning and discussing various topics in this class has been a pleasure. I wish all of my
fellow learners the best of luck in your future endeavors and hope to work with you in the
future.
– Dorvil
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Week 8Marshall Williams posted May 23, 2023 1:33 PM Subscribe
Over the course of this study, my perspectives on supply chain risk management (SCRM)
have significantly evolved. I’ve come to appreciate that supply chain resilience is not just
about preventing disruptions but also managing and recovering from them efficiently.
Companies need to take several steps to build a more resilient supply chain while also
remaining profitable and competitive:
1. **Risk Assessment and Visibility:** Companies should regularly conduct comprehensive
risk assessments to identify potential vulnerabilities in their supply chain. They also need to
establish real-time visibility across their supply chain to quickly detect any disruptions and
respond accordingly.
2. **Diversification of Suppliers and Geographical Locations:** Relying on a single supplier
or region can expose companies to significant risk. Diversifying suppliers and sourcing
from various geographical locations can mitigate this risk.
3. **Invest in Technology and Innovation:** Companies need to leverage advanced
technologies like AI, IoT, and blockchain to enhance supply chain visibility, predict potential
disruptions, and automate recovery measures.
4. **Strong Relationships with Suppliers:** Companies should develop strong, collaborative
relationships with their suppliers. This can facilitate better communication, encourage
innovation, and ensure a quicker response in times of disruptions.
5. **Building Inventory and Capacity Buffers:** While lean inventory management is often
profitable, it can increase risk. Companies should consider building strategic inventory
buffers and excess capacity to handle unexpected disruptions.
6. **Sustainability:** A sustainable and ethical supply chain can also enhance resilience.
Companies focusing on sustainability can improve their reputation, reduce legal risks, and
ensure long-term profitability.
7. **Continual Learning and Adaptation:** Companies should learn from past disruptions
and constantly adapt their risk management strategies. They should also stay updated with
emerging trends and risks in the global supply chain landscape.
By implementing these steps, companies can not only build a more resilient supply chain
but also gain a competitive advantage, enhance customer satisfaction, and ensure
sustainable profitability.
5/24/23, 4:36 AM W8: Lessons Learned and Future Perspectives – SCMG301 B001 Spring 2023
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Week 8LATASYA CAUSEY posted May 22, 2023 7:57 PM Subscribe
My perspectives on supply chain risk management have changedsignificantly as I have completed this course. I have learned that supply chainrisk is a complex and ever-changing issue and that only one solution willwork for every company. However, I have also learned that there are severalsteps that companies can take to improve their supply chain resilience. Oneof the most important lessons I have learned is that it is essential to have acomprehensive understanding of the supply chain. It includes understandingthe suppliers, customers, and risks that could impact the supply chain. Oncethere is a good understanding of the supply chain, develop strategies tomitigate those risks.Another important lesson I have learned is that it is essential to have a planin place for dealing with disruptions. This plan should include steps toidentify and assess risks and steps to mitigate those risks. Having a plan forcommunicating with the customers and suppliers during a disruption is alsoessential. Finally, I have learned that being proactive in managing supplychain risk is essential. It means taking steps to identify and mitigate risksbefore they occur. It also means being prepared to respond to disruptionsquickly and effectively.Companies that take these steps will be better positioned to become moreresilient while being profitable and competitive in the marketplace.Here are some steps companies can take to become more resilient: Identifyand assess risks. The first step is identifying and assessing the risks thatcould impact the supply chain. It includes risks such as natural disasters,political instability, and cyberattacks.Mitigate risks. Once the risks have been identified, develop strategies tomitigate them. It could include diversifying the supplier base, having backupplans, and investing in risk management technology.Be prepared to respond to disruptions. Even if there are steps to mitigaterisks, there is always the possibility that disruption will occur. It is essentialto be prepared to respond to disruptions quickly and effectively. It couldinclude things like having a plan for communicating with their customers andsuppliers and having a plan for getting their products to market.
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Lessons Learned and Future PerspectivesLiza Escalante posted May 22, 2023 12:29 PM • 337 Words
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My understanding of SCRM has developed considerably over this training. I
now have a more nuanced appreciation for how a company’s resilience,more
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