Martin Staples, a member of The ProAction Group team, is a senior operations leader and change facilitator with over 27 years of global business experience. He recently sat for an interview with NPR Milwaukee producer Audrey Nowakowski to discuss how coronavirus is disrupting the supply chain and what companies can do about this. In this article, Martin shares:
Immediate Steps Recommended for Businesses
- Have multiple sources for larger volume components.
- Make sure you talk to suppliers to evaluate the risk to your supply chain: “Do they buy directly from China? Or do they know of any risk to their supply chain?”
- If you have long purchase orders, bring in more supplies than you normally would: “Raise up to 30-60 days of inventory on parts.”
- Keep your relationship with your suppliers strong: “You want to keep in touch so that you’re getting first-pass when things go bad.”