As the frequency and magnitude of supply chain disruptions continue to grow, it would be understandable if business leaders’ first instinct is to respond by trying to correct every single flaw or mistake, no matter what it takes, so each disruption never happens again. But it’s becoming increasingly clear that a 100% resilient supply chain is unattainable. Rather, pragmatism and adaptability are proving far more effective.
This is the approach that a number of automakers are embracing. Now, as businesses in every industry reorient their supply chains to boost resilience, the strategic ways the automotive sector has responded to recent supply chain shocks hold lessons for all companies.
Here are five actions for executives to consider as they craft the resilience strategy that’s right for their company.
1. Deliver the “good enough” product.
Some auto companies are avoiding shipping delays by adjusting or even eliminating non-essential features or…
This article was written by Darrell Rigby and originally published on hbr.org