How to Strategically Approach the Supply Chain Balancing Act of 2021

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