They are based on the realization that 100% resilience is unattainable.
One automaker responded to pandemic disruptions and the chip shortage with significant investments in bolstering its ability to monitor risks and respond. First, the company created a new tool that uses a scoring system to triage risks.
This revamped risk-assessment approach has already uncovered potentially significant vulnerabilities that were difficult to spot — one was additive materials required to produce a resin used to bind the cathodes and anodes in lithium-ion vehicle batteries.
A better approach is to strike a balance between centralized and distributed decision-making. One automotive business adopted a hybrid model that put tactical or more straightforward decisions in the hands of employees working on the ground in day-to-day supply chain operations, while the central supply-chain-resilience team has control over larger decisions that might involve significant investments or affect the company’s full supply chain.
As an alternative, some companies have begun to explore circular business models to give them better control of scarce resources. For example, Toyota is leasing, instead of selling, its electric vehicles in Japan so the company can maintain ownership of the batteries in order to reuse them as appropriate or recycle key materials.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
How DeviantArt is navigating the AI art minefield“AI is not something that can be avoided.”
Read more »
Miami-Dade flips red: Midterm lessons for Republicans and DemocratsMiami-Dade County swung red this election, making Gov. Ron DeSantis the first Republican gubernatorial candidate to win the county in two decades. (via Axios Miami)
Read more »
4 AI Implementation Lessons From Leading Organizations | GartnerHow do your AI implementation plans stack up amongst peers? Discover 4️⃣ key actions leading finance organizations are taking to get the most out of their AI technologies: GartnerFinance ArtificialIntelligence
Read more »
West Jordan teacher promotes inclusivity through American Sign Language lessons“We make a difference. That is so powerful” - Silence dominates one classroom in the Jordan School District, and the teacher leading the class won’t have it any other way. JFRANCHIREPORTS
Read more »
SHIB Metaverse: Tech Trench Hub Inspired by Leading Universities LaunchedSHIB metaverse reveals tech trench hub inspired by top universities ShibArmy SHIBCommunity Shibainu
Read more »