Address supply chain shortages and delays

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In the wake of the COVID-19 pandemic, manufacturers face key component shortages and higher raw material costs. Goods makers are experiencing record freight rates and delayed or cancelled shipments.

In response, some immediate steps managers can take include focusing on production schedule flexibility, reviewing inventory policies and supplier risk management as a key element of supply chain sustainability.

Longer term, experts expect to see use of technology to achieve better visibility into the supply chain; reshoring or regionalization of supply sources; or adoption of a supply chain as a service model.