Denike 😘

I need to have this pinned on my X account so i won't forget easily cos I sometimes do🥲

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Dear Supply Chainers, Happy Easter to those who celebrated and those who are still celebrating. I hope you had a good time with family and loved ones. On today's episode of talking about the supply chain, we will continue from the last episode on Risk management as I mentioned in my last post. A company do not have to wait or not for problems before they struck, hence, it either build a proactive system or make do with a reactive system. Long before now, companies have built a reactive risk management system that is in the form of contingency planning after damage have been done and huge loss have been recorded. Right now, the story is opposite. While some risk cannot be completely predicted, however, many can be seen or managed through 𝒓𝒆𝒂𝒍-𝒕𝒊𝒎𝒆 𝒗𝒊𝒔𝒊𝒃𝒊𝒍𝒊𝒕𝒚. I know you hear real-time visibility every now and then, and you are wondering what that means in the real world. 𝑻𝒓𝒂𝒄𝒌𝒊𝒏𝒈 𝒔𝒉𝒊𝒑𝒎𝒆𝒏𝒕, 𝒊𝒏𝒗𝒆𝒏𝒕𝒐𝒓𝒚, 𝒔𝒖𝒑𝒑𝒍𝒊𝒆𝒓 𝒂𝒄𝒕𝒊𝒗𝒊𝒕𝒊𝒆𝒔 𝒂𝒏𝒅 𝒑𝒆𝒓𝒇𝒐𝒓𝒎𝒂𝒏𝒄𝒆, 𝒉𝒂𝒗𝒊𝒏𝒈 𝒎𝒖𝒍𝒕𝒊𝒑𝒍𝒆 𝒔𝒖𝒑𝒑𝒍𝒊𝒆𝒓𝒔, 𝒅𝒐𝒊𝒏𝒈 𝒔𝒄𝒆𝒏𝒂𝒓𝒊𝒐 𝒑𝒍𝒂𝒏𝒏𝒊𝒏𝒈 𝒆𝒕𝒄. 𝒂𝒓𝒆 𝒕𝒉𝒆 𝒓𝒆𝒂𝒍 𝒕𝒊𝒎𝒆 𝒗𝒊𝒔𝒊𝒃𝒊𝒍𝒊𝒕𝒚 we are talking about here. Following the trend and pattern of these variables help companies to stay alert almost all the time. Through it, risk can be flagged early, delays can be predicted and problems can be averted. Additionally, 𝐴𝐼 𝑚𝑜𝑛𝑖𝑡𝑜𝑟𝑖𝑛𝑔 𝑎𝑛𝑑 '𝑐𝑙𝑒𝑎𝑛' 𝑑𝑎𝑡𝑎 is also an helpful advantage in this present time and would be going forward. Another thing companies are doing is 𝒓𝒆𝒈𝒊𝒐𝒏𝒂𝒍 𝒔𝒖𝒑𝒑𝒍𝒚 𝒄𝒉𝒂𝒊𝒏, which in my own opinion is one of the best move in reducing risk. Regional in normal English term is something closer or within reach. Through it, companies achieve both lower risk and faster response. Let's bring it home, with the future heavily looming with increasing risks, 𝒂 𝒇𝒖𝒍𝒍𝒚 𝒄𝒐𝒏𝒏𝒆𝒄𝒕𝒆𝒅 𝒏𝒆𝒕𝒘𝒐𝒓𝒌𝒔, 𝒑𝒓𝒆𝒅𝒊𝒄𝒕𝒂𝒃𝒍𝒆 𝒂𝒏𝒅 𝒔𝒆𝒍𝒇-𝒉𝒆𝒍𝒑𝒊𝒏𝒈 𝒔𝒖𝒑𝒑𝒍𝒚 𝒄𝒉𝒂𝒊𝒏 𝒊𝒔 𝒕𝒉𝒆 𝒏𝒆𝒙𝒕 𝒑𝒉𝒂𝒔𝒆 𝒊𝒏 𝒔𝒖𝒑𝒑𝒍𝒚 𝒄𝒉𝒂𝒊𝒏. Analytical thinking, data skills, communication, curiosity and business understanding are powerful combinatory advantageous skillsets to have to build a career in risk management and the supply chain as a whole. Be able to study patterns, get equipped with business intelligence tools and leverage AI to predict problems before they occur, rather than the old way of solving them after they might have occurred. The companies that win today, tomorrow and ever after are those who sight risk before it happens and those who can build that capability are in high demand. Like I do say, ignore the noise, get your hands dirty, because the industry is waiting for you. Till next time, thanks for stopping by. #riskmanagement #DearSupplyChainers #storytelling

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𝐃𝐞𝐚𝐫 𝐒𝐮𝐩𝐩𝐥𝐲 𝐂𝐡𝐚𝐢𝐧𝐞𝐫𝐬, Hellooo Community!!! Listening to the news? I must say the days we live in is more scary than before, but one thing I've learnt to do is focus on what I can control. I time you should do likewise. On today's episode of telling the supply chain story in a very relatable way, we will scratch the surface on 𝐑𝐢𝐬𝐤 𝐦𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭. This is very important especially at this time. I'm most certain that you must have heard about the war in Iran and the 'strait of Hormuz' must be familiar to you. Ever wondering how companies are coping? how product(s) coming from that part of the world still getting delivered or not? Only those with strong risk management are able to stay afloat. Let's dig in............................... Risk in simple terms is the chance that something could go wrong which could affect your plans. Management is what you do to reduce the effect of the risk should it occur. 𝐒𝐭𝐨𝐫𝐲 𝐜𝐚𝐩𝐭𝐢𝐨𝐧: "𝑌𝑜𝑢 𝑎𝑟𝑒 𝑎𝑛 𝑒𝑣𝑒𝑛𝑡 ℎ𝑜𝑠𝑡, 𝑝𝑙𝑎𝑛𝑛𝑖𝑛𝑔 𝑡𝑜 ℎ𝑜𝑠𝑡 𝑎𝑛𝑜𝑡ℎ𝑒𝑟 𝑒𝑣𝑒𝑛𝑡 𝑙𝑖𝑘𝑒 𝑒𝑣𝑒𝑟𝑦 𝑜𝑡ℎ𝑒𝑟 𝑜𝑛𝑒𝑠 𝑎𝑛𝑑 𝑛𝑒𝑒𝑑 𝑡𝑜 𝑜𝑟𝑑𝑒𝑟 𝑖𝑡𝑒𝑚𝑠 𝑓𝑟𝑜𝑚 𝑑𝑖𝑓𝑓𝑒𝑟𝑒𝑛𝑡 𝑐𝑜𝑢𝑛𝑡𝑟𝑖𝑒𝑠 𝑜𝑓 𝑡ℎ𝑒 𝑤𝑜𝑟𝑙𝑑. 𝑀𝑎𝑛𝑦 𝑖𝑡𝑒𝑚𝑠 𝑎𝑟𝑟𝑖𝑣𝑒𝑑 𝑒𝑎𝑟𝑙𝑦, 𝑠𝑜𝑚𝑒 𝑤ℎ𝑖𝑐ℎ 𝑤𝑜𝑢𝑙𝑑 𝑢𝑠𝑢𝑎𝑙𝑙𝑦 ℎ𝑎𝑣𝑒 𝑎𝑟𝑟𝑖𝑣𝑒𝑑 𝑒𝑎𝑟𝑙𝑦 𝑐𝑜𝑢𝑙𝑑𝑛'𝑡 𝑚𝑎𝑘𝑒 𝑖𝑡 𝑏𝑒𝑐𝑎𝑢𝑠𝑒 𝑡ℎ𝑒𝑦 𝑎𝑟𝑒 𝑠𝑡𝑢𝑐𝑘 𝑠𝑜𝑚𝑒𝑤ℎ𝑒𝑟𝑒" Now, imagine if this scenario occur repeatedly, what would the future of the above event vendor look like? Your guess is as good as mine. Most often, the problem is not because companies did not plan appropriately or early enough, in fact a whole department is dedicated to planning and forecasting in established firms and they do what we call time fencing(which we will talk about in coming days). The problem is that no one saw that sudden delay coming. In supply chain, risk is one of many reasons why companies have many suppliers, nor depend on one route or country to order their products or items for production. Companies' risk acceptance is determined by considering the 𝒑𝒓𝒐𝒃𝒂𝒃𝒊𝒍𝒊𝒕𝒚 𝒐𝒇 𝒕𝒉𝒆 𝒆𝒗𝒆𝒏𝒕 𝒐𝒄𝒄𝒖𝒓𝒓𝒊𝒏𝒈 𝒂𝒏𝒅 𝒕𝒉𝒆 𝒊𝒎𝒑𝒂𝒄𝒕 𝒐𝒇 𝒔𝒖𝒄𝒉 𝒐𝒄𝒄𝒖𝒓𝒓𝒆𝒏𝒄𝒆. Would it be mild? negligible? massive? etc. The result from the probability matrix determines Companies decision to either activate mitigation measures or just allow it to happen. I'm sure you are like 😳 allow it to happen? Yes, if the financial implication of mitigating the risk is higher than the cost implication contingency for its occurrence, then they just let it be. Another reason is if the risk impact is negligible. However, negligible in this sense should be a once in a while thing, it cannot be a continuous negligence, it may impact the companies image at some point. There are many things to talk about when it comes to risk in supply chain and its management. Risk management is multifaceted and with the advent of AI, the role of risk management will be on the increase. While we are thankful for Artificial Intelligence, the hidden caveat to its deployment at least for now, is the need for human oversight in its activities. Political disruption, ethnic dispute and sudden interconnected global shocks amongst many others are the reason we cannot give the ship completely over to AI just yet or even in the future. Let's bring this home to you, companies need more people who can help them curtail risk as quickly as possible with little or no impact. Better still, to prevent the risk from happening at all. You can partner with AI to build sensitive workflows that send triggers on perceived irregularity as soon as they occur. Do not focus on the AI replacing people noise, as it is replacing people, it's creating more pathway. Follow the new normal and get your hands dirty. We will continue next time still talking about risk management. Till then, have a good one and Happy Easter! #DearSupplyChainers #Riskmanagement #storytelling #RT

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𝐃𝐞𝐚𝐫 𝐒𝐮𝐩𝐩𝐥𝐲 𝐂𝐡𝐚𝐢𝐧𝐞𝐫𝐬, Dear Community, it's been a while, yea I know. I hope you all are doing great! Yes, I'm still here, it's just back hectic lately. The world is rumbling on and in the center of it all is our dear supply chain. We hope to get a hold of it. In this time of major uncertainties rolling out from every news you wake up to, 𝐒𝐮𝐩𝐩𝐥𝐲 𝐂𝐡𝐚𝐢𝐧 𝐫𝐞𝐬𝐢𝐥𝐢𝐞𝐧𝐜𝐞 is key. Only the resilience ones will survive with little or no losses, or major losses that would either cause a re-awakening, reshuffling or total collapse. When problems hit, because they always happen, companies' ability to respond to these sudden changes is what resilience is all about. However, you do not just arrive at resilience accidentally, it takes time, years of building and collaboration. Most times, companies look out for the weak link that can cause massive disruptions if anything goes wrong and try to safeguard. They do this by; 𝑯𝒂𝒗𝒊𝒏𝒈 𝒎𝒖𝒍𝒕𝒊𝒑𝒍𝒆 𝒔𝒖𝒑𝒑𝒍𝒊𝒆𝒓𝒔, 𝒃𝒖𝒊𝒍𝒅𝒊𝒏𝒈 𝒔𝒕𝒓𝒂𝒕𝒆𝒈𝒊𝒄 𝒔𝒂𝒇𝒆𝒕𝒚 𝒔𝒕𝒐𝒄𝒌, 𝒆𝒏𝒔𝒖𝒓𝒆 𝒔𝒖𝒑𝒑𝒍𝒚 𝒄𝒉𝒂𝒊𝒏 𝒗𝒊𝒔𝒊𝒃𝒊𝒍𝒊𝒕𝒚, 𝒇𝒍𝒆𝒙𝒊𝒃𝒍𝒆 𝒍𝒐𝒈𝒊𝒔𝒕𝒊𝒄𝒔 𝒂𝒏𝒅 𝒑𝒓𝒂𝒄𝒕𝒊𝒄𝒊𝒏𝒈 𝒓𝒆𝒈𝒊𝒐𝒏𝒂𝒍 𝒔𝒖𝒑𝒑𝒍𝒚 𝒄𝒉𝒂𝒊𝒏𝒔. 𝑻𝒉𝒆𝒔𝒆 𝒂𝒓𝒆 𝒕𝒉𝒆 𝒄𝒐𝒓𝒆 𝒐𝒓 𝒇𝒖𝒏𝒅𝒂𝒎𝒆𝒏𝒕𝒂𝒍 𝒘𝒂𝒚𝒔 𝑪𝒐𝒎𝒑𝒂𝒏𝒊𝒆𝒔 𝒆𝒏𝒔𝒖𝒓𝒆 𝒓𝒆𝒔𝒊𝒍𝒊𝒆𝒏𝒄𝒆 𝒊𝒏 𝒕𝒉𝒆 𝒎𝒊𝒅𝒔𝒕 𝒐𝒇 𝒂𝒍𝒍 𝒖𝒏𝒄𝒆𝒓𝒕𝒂𝒊𝒏𝒕𝒊𝒆𝒔. Other things are additional. This matters today because of increasing geopolitical tensions, climate disruptions, bottlenecks, As these situations increases, so is the need for professionals to stem the tide. I know you are worried about AI, believe me when I say AI cannot solve many uncertainty issues. It can only work along with humans when trouble strikes. If you are thinking of getting into supply chain, now is the time. Risk management and analyst roles, scenario planning lead and procurement need people like you. Thinking if you are a good fit? If you are good with data analysis, understanding global moves, communication and preventive measure planning, you are sure a considerable candidate. Start somewhere and build from there. All the best. Till next time, bye! #DearSupplyChainers #Supplychainresilience #storytelling

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