Cutting through the fog of trade war

From the May-June 2017 edition of Supply Chain Management Review.

May-June 2017

Trust hasn’t always been an element in supplier relationships; all too often buyers have been encouraged to carry a big stick and get tough with suppliers to get the best price—no matter the cost. That approach to…

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The world of politics is poised to collide with the supply chains of increasingly globalized U.S. companies. The Trump administration has identified trade and treaty reform as two of its top priorities, but how that will translate into specific policy or implications for international commerce remains unclear.

It takes a broad suite of tools to effectively manage a supply chain today, including everything from software and systems specializing in logistics, data analytics and inventory management to tools enabling demand forecasting, freight management and ensuring security and beyond. In fact, the supply chain manager's traditional arsenal is overflowing with weapons designed to address any and all known obstacles.

But, what tools do you need to address the unknown? How can you indemnify your organization against change and uncertainty? How can you forecast, for example, without data?

Fortunately, tools such as game theory and scenario planning can help you manage more effectively in the face of multiple alternatives, including worst-case situations.

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