Supply Chains in VUCA Environments with Jim Tompkins
Jim Tompkins and Joe Lynch talk about Supply Chains in VUCA Environments. Jim is the Founder and Chairman of Tompkins International, a company that helps clients achieve supply chain excellence and profitable growth.
About James Tompkins
Dr. James A. Tompkins is the Founder and Chairman of Tompkins International. Jim is an international authority on designing and implementing end-to-end supply chains. As the founder and chairman of Tompkins International, his focus over the last several years has been in the areas of digital commerce, omnichannel and supply chain reinvention. Over the last 40 years, Tompkins International has evolved from a supply chain consulting firm into an end-to-end supply chain consulting and solutions company, with business units focusing on supply chain consulting and material handling integration. His 40-plus years as CEO of Tompkins International and his focus on helping companies achieve profitable growth give him an insider’s view into what makes great companies even better.
About Tompkins International
Tompkins International is a global supply chain consulting and solutions firm dedicated to helping clients achieve supply chain excellence and profitable growth. Founded in 1975, Tompkins has integrated its decades of experience in strategy, commerce, logistics and technology to provide unique supply chain consulting and material handling integration solutions. By combining best-in-breed services and technologies, Tompkins delivers a true end-to-end supply chain solution, enabling clients to improve the customer experience and ensure long-term success. Tompkins is headquartered in Raleigh, North Carolina and has offices throughout North America.
Key Takeaways: Supply Chains in VUCA Environments
- VUCA stands for Volatility, Uncertainty, Complexity and Ambiguity.
- How to handle VUCA environments and unprecedented times.
- Covid-19 is VUCA, a “black swan” event.
What happens to Supply Chains in a VUCA Environment?
- VUCA can also be hurricanes, wildfires, social evil, political issues, and others. It’s not just one event; it’s a combination of many.
- 2021: Uncertainty about uncertainty.
- Supply chain: the science of synchronizing supply and demand.
- COVID and the associated VUCA forced us to completely redesign what we do and how we do it.
- The supply chain strives for control and predictability, the opposite of VUCA.
- Finding solutions that can adapt to VUCA environments.
How to be more resilient?
- Understand what visibility and awareness entail.
- Creating a many-to-many network.
- Digital supply network.
- Visibility needs to lead to actionability.
- Connect the process through artificial intelligence that can find the problem and produce options to solve the problem.
- Machine learning. AI understanding how we would typically solve problems and applying them—creating rules and guidelines.
- Agility with AI to work through VUCA environments.
Supply chains instead of supply chain
- For most companies, every product or has it’s own unique supply chain.
- Reshore and nearshore supply chains and manufacturing to increase resiliency – the anti-brittle supply chain.
- Bring back optionality, supply chains that operate differently.
Learn More About Supply Chains in VUCA Environments
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