As part of a supply chain, your partner expects 3 things:
Whether you are an OEM, a Tier 1 Supplier, or a Tier 2 Supplier, the product you provide to your customer is based on the work of another company. If that company fails to deliver to you, or is late in the delivery, it can greatly impact not only your organization, but also the OEM who sits at the top of the supply chain.
While topics such as Just-in-Time Manufacturing and Offshoring help reduce costs, they also add risk into the supply. The COVID-19 pandemic has recently exacerbated the drawbacks of these cost-reducing models due to disruptions in supply chains.
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