SCMG301 Week 8 DQR

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 read about lessons learned in managing supply risk and we have content that considers the future direction in SCRM. What steps do you think companies should be taking to become more resilient while also being profitable and competitive in the marketplace?

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W8 Disccusion Darrian 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 8 Adam 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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WK8 Tanishia 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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Javad Seyed

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 8 Cody 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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Javad Seyed

Dorvil: W8: Lessons Learned and Future Perspectives DOMINIQUE 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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5/24/23, 4:36 AM W8: Lessons Learned and Future Perspectives - SCMG301 B001 Spring 2023

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Week 8 Marshall 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.

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Marshall

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Week 8 LATASYA CAUSEY posted May 22, 2023 7:57 PM Subscribe

My perspectives on supply chain risk management have changed significantly as I have completed this course. I have learned that supply chain risk is a complex and ever-changing issue and that only one solution will work for every company. However, I have also learned that there are several steps that companies can take to improve their supply chain resilience. One of the most important lessons I have learned is that it is essential to have a comprehensive understanding of the supply chain. It includes understanding the suppliers, customers, and risks that could impact the supply chain. Once there is a good understanding of the supply chain, develop strategies to mitigate those risks. Another important lesson I have learned is that it is essential to have a plan in place for dealing with disruptions. This plan should include steps to identify and assess risks and steps to mitigate those risks. Having a plan for communicating with the customers and suppliers during a disruption is also essential. Finally, I have learned that being proactive in managing supply chain risk is essential. It means taking steps to identify and mitigate risks before they occur. It also means being prepared to respond to disruptions quickly and effectively. Companies that take these steps will be better positioned to become more resilient while being profitable and competitive in the marketplace. Here are some steps companies can take to become more resilient: Identify and assess risks. The first step is identifying and assessing the risks that could 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 to mitigate them. It could include diversifying the supplier base, having backup plans, and investing in risk management technology. Be prepared to respond to disruptions. Even if there are steps to mitigate risks, there is always the possibility that disruption will occur. It is essential to be prepared to respond to disruptions quickly and effectively. It could include things like having a plan for communicating with their customers and suppliers and having a plan for getting their products to market.

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Lessons Learned and Future Perspectives Liza 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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