Earlier this month, ERA Group (formerly Expense Reduction Analysts) attended the S&P Global Q2'2024 Trade and Supply Chain Outlook webinar and asked the question, “Where can manufacturing companies get the most ‘bang for their buck’ in terms of investing in supply chain resiliency?”

 

“You can't invest in anything if you don't know what's going on across your entire firm. Know what your exposures are across your entire firm and build and train your procurement teams appropriately,” said Chris Rogers, Head of Supply Chain Research at S&P Global Market Intelligence. His answer aligns to what we tell our clients today. ERA Group believes in taking a holistic approach when addressing cost optimization and supplier management. It makes sense that this same advice applies to supply chain resiliency, too. It is more important than ever to be an expert on the macro and micro views of your supply chain. This includes the most critical and visible components of your supply chain, down to small expense items.