Once again, it has taken a crisis to highlight the truth that, surprisingly, many industries are still reliant on a single supplier. At the same time, there’s been a realization that many components or medicines are produced in only one place, often solely in China. Additionally, mapping the supply chain and searching for alternative suppliers is often either not done or only conducted at a superficial level – for cost savings?
The accompanying HBR article sheds light on these procurement perspectives, which we have often discussed with our clients, and fortunately, awareness of these issues has now increased more widely in Finland as well.
Link to the article.