Moving towards a ‘ Just-in-Case ’ approach allows SMEs to centre on securing sufficient supplies proactively , ahead of time , to prevent stock outs and protect profitability in a volatile supply chain ecosystem .

To achieve this , clear visibility of the entire breadth of the supply chain is required , which means a business management approach based on real-time insights on supplier deliveries , incoming orders and available stock data . This brings me to my second point :

Secure all the data you can get your hands on Accurate , real-time data will enable you to pre-empt strain and demand on your supply chain – and this means bringing together data from right across the business , including financials , resource planning and omnichannel sales .

Data analysis then brings actionable insights so vulnerabilities and risks can be identified , and the supply chain optimised . For example , by reviewing stock levels , procurement cycles and lead times , demand spikes and patterns that signal impending shortages can be better anticipated and accommodated .

Finance teams can also correlate supply chain insights with the balance sheet to deliver more precise financial models and better monitor budgets and cash flow .

Hold suppliers to account Work with heads of finance and procurement leaders to reexamine supplier contracts . If there are elements of the supply chain that are consistently failing to meet expectations or demand , contracts should be revised and renegotiated . Pay special attention to where goods are sourced from , whether that ’ s a local

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