{"id":246801,"date":"2022-03-28T11:50:30","date_gmt":"2022-03-28T11:50:30","guid":{"rendered":"https:\/\/imarticus.org\/?p=246801"},"modified":"2022-03-31T11:52:55","modified_gmt":"2022-03-31T11:52:55","slug":"3-success-stories-different-types-of-uncertainties-managed-in-supply-chain","status":"publish","type":"post","link":"https:\/\/imarticus.org\/blog\/3-success-stories-different-types-of-uncertainties-managed-in-supply-chain\/","title":{"rendered":"3 Success stories: Different types of uncertainties managed in supply chain"},"content":{"rendered":"

Supply chains often face different types of uncertainties. These can come from various sources, such as supplier performance, market demand, or even natural disasters. Businesses need to have a plan to manage these uncertainties. This blog post will discuss three uncertainties managed in the supply chain.<\/span><\/p>\n

Uncertainty 1: Supply Uncertainty<\/b><\/h3>\n

Supply uncertainty can come from many sources. It could be that your supplier cannot meet the demand for your product. There could also be disruptions in the supply chain, such as a natural disaster or political unrest. Whatever the source, it is crucial to have a plan to manage this type of uncertainty.<\/span><\/p>\n

One way to manage supply uncertainty is to have a buffer stock. It is when you have extra inventory on hand in case of disruptions. Another way to handle it is to have multiple suppliers. If one supplier cannot meet your needs, you can rely on another supplier.<\/span><\/p>\n

Uncertainty 2: Internal Uncertainty<\/b><\/h3>\n

This type of uncertainty manages within the company. It includes uncertainties such as production line downtime, quality issues, employee absences, etc. The goal is to minimize the impact of these events on customer service and order fulfillment.<\/span><\/p>\n

Some critical practices can help companies manage internal uncertainty:<\/span><\/p>\n