How to Strategically Approach the Supply Chain Balancing Act of 2021

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In recent years, lean supply chains were the hot topic for small and midsize manufacturers. Reducing cost, simplifying logistics, and minimizing the number of supplier relationships to be managed seemed like a dream come true. However, in 2020 when COVID-19 disrupted supply chains worldwide, the cost of rigid, frail supply chains was made clear. Supply chain disruptions can create major losses in finances (62%), reputation (54%), and logistics (54%), and almost all midsize companies felt the impacts and risks that came about during the pandemic. In an April 2020 survey, 95% of companies reported operational problems due to COVID-19

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