BUILDING YOUR RESILIENCE PLAYBOOK
Successful procurement leaders are moving beyond theoretical frameworks to develop practical, executable strategies. Graham advocates for a three-pronged approach that he describes as“ playbooks, not just policies”
1. Build flexibility This foundation involves creating multiple options and escape routes before crisis strikes. Key tactics include maintaining strategic buffer stocks, establishing dual sourcing arrangements, implementing near-shoring strategies and securing backup supply agreements. The goal is to ensure alternatives are readily available when primary supply routes are compromised.
2. Broaden the base Concentration risk represents one of the most significant vulnerabilities in modern supply chains. Successful teams systematically audit suppliers, diversify their networks, relax overly bespoke standards where possible and actively introduce new entrants to increase overall capacity and reduce dependency on single sources.
3. Strengthen ties When stakes are high, supporting critical suppliers becomes essential. This might involve offering early payments, negotiating more flexible contract terms or even considering vertical integration for truly mission-critical components. The investment in supplier relationships pays dividends when crisis strikes and collaboration becomes paramount.