The electronics industry is fast-moving, and having a resilient supply chain can be the difference between success and failure. A resilient supply chain will help you stay on top of changing trends and market conditions. By establishing buffer capacity, focusing on manufacturing network diversification, developing a multisourcing strategy, leaning on nearshoring when possible and using online alternative parts marketplaces (among other things), you can build a more resilient supply chain that will help you meet customer demand and reduce risk in supply chain.

Mapping supply chain

A supply chain is a network of suppliers and customers. It's also a system of processes, people and information that connects suppliers and customers. In order to build supply chain resilience, you'll need to understand the role your own business plays in this ecosystem. And while it may seem like there are many moving parts involved in your company's optimization of supply chain—which there are—the first step toward improving them is making sure everyone involved knows what they're doing at every level.

Ideally, every employee should be familiar enough with their individual roles so that they can take initiative when things start getting out of whack without having to ask questions or wait for instructions from higher up on the totem pole. While having a mba in supply chain and logistics management can be a great value add, you don’t need such a complex degree to get started.

Establish buffer capacity

As you’re optimizing the supply chain, it's important to identify and build buffer capacity into the system. Buffer capacity is the amount of extra capacity that you have in the supply chain. It can be used for unexpected demand, such as a spike in demand or a major sale event; or for unexpected supply issues, such as an unexpected supplier closure or natural disaster.

Focus on manufacturing network diversification

• Diversify manufacturing locations — If one region gets hit by an earthquake or hurricane, it might be off-limits for a while. But if you have factories in different geographical locations and they're all hit at once? You'll still need be able to operate as usual and ship out orders on time.
• Diversify manufacturing processes — The same goes for different production methods (like mixing up your processes between assembly lines). When some areas are down for repairs after an accident within a factory's walls, others can step in to keep things moving along smoothly so you don't lose any customers due to delays or lack of managing risk in the supply chain.
• Diversify suppliers — Don't rely on just one supplier for any part of your business—it could eventually cause problems down the road if they don’t deliver as expected due to whatever reason. Having multiple options available reduces risk in the supply chain significantly because there's always another option if something goes wrong with one source supplier.

Develop a multisourcing strategy

The main goal of a multisourcing strategy is to reduce the risk of supply chain disruption. It's important to identify and implement new sources of supply in order to ensure that the company can continue operating even when there are problems with supply chain.

However, it's not always easy to find multiple suppliers for each product you need. Some companies opt for outsourcing: purchasing parts or entire products from other manufacturers. The most successful businesses have systems in place that allow them to quickly switch between suppliers based on price, quality and availability using tools like Amplio.

It’s also important to consider which parts can be sourced from multiple locations around the world so that your supply chain is resilient against potential disasters abroad like natural disasters or political unrest within countries where you source materials. Good thing there are major manufacturing hubs: think about how many logistics company in India.

While developing this kind of plan for sourcing products may seem daunting at first glance, you’ll find that multi-sourcing strategies aren’t as complicated as they sound.

Lean on nearshoring when necessary

When in need of speedy deliveries, nearshoring is a great option. Nearshoring is the practice of outsourcing to a neighboring country that's relatively close by. For example, if you have an electronics company in the U.S., nearshoring would be sending out jobs from your primary American facilities to Mexico or Canada instead of China or India. Rather than searching things like “electric part supplier near me”, check out Amplio’s secondary component marketplace when in need (more on this later).

Nearshoring has become increasingly popular over the last decade due to its ability to provide competitive pricing while still being close enough for frequent communication with vendors and customers alike—and there are many advantages when compared with countries like China or India.

Use online alternative parts marketplaces

Use a supply chain management system. They help coordinate the flow of goods through your warehouse, ensuring that products are shipped out at just-in-time rates and that any issues with inventory are addressed immediately while also predicting and analyzing risk potential.

When a supplier falls through or you can't source a component, Amplio has an online alternative parts marketplace for sourcing spare parts from the world’s leading manufacturers and distributors. It makes finding and buying hard-to-get items easier than ever before by providing access to a global network of suppliers who can source high-quality surplus inventory.

Having a resilient supply chain is important for business success, especially in the electronics industry.

Supply chain resilience is an important part of business success, especially for companies in the electronics industry. In today's competitive markets, it's vital to have a supply chain plan that enables you to quickly meet customers' needs and expectations. As consumers become savvier and more demanding, companies need to be able to deliver on their promises—and quickly.

Here are some tips for building a resilient supply chain:

• Understand your customer base and what they want from you as a brand or company.
• Understand your suppliers' capabilities and how well they can handle unexpected changes in production or demand. Make sure that all parties involved communicate effectively so that if there are issues with production or delivery times due to unforeseen events like natural disasters or political unrest within supplier countries, everyone knows what's happening at all times so they can resolve any problems quickly before they get out of hand (which could mean lost revenue).

The key to supply chain resilience

The key to building resilient supply chains is to ensure that it is flexible and can adapt to changing circumstances. This means that you need to plan for disruptions in advance and ensure that your suppliers also have contingency plans in place.