“We've had this whole period of trying to manage supply chains for lowest cost, whereas I think now we're managing for resilience at a managed cost and at an acceptable cost.” - Tim Richardson, Founder and CEO, Iter Consulting

Supply chains aren't really chains anymore. They're complex, interconnected networks. 

Supply networks are anything but predictable. What used to be straightforward relationships between suppliers and customers have become webs of interconnected partnerships, each with its own risks and opportunities. The leaders and teams who succeed in this environment understand that optimizing for resilience at a managed cost has fundamentally replaced the old paradigm of chasing the lowest cost… at any price. In this episode of Art of Supply, Kelly Barner welcomes Tim Richardson back to the podcast. Tim is the Founder and CEO of Iter Consulting, a global team of experts with supply chain and manufacturing experience that are helping companies navigate the new world order of distributed manufacturing and supply network complexity

In this episode of the Art of Supply podcast, Tim and Kelly discuss: 

• Why we've moved past peak globalization and what "local for local" manufacturing means for supply network design
• How to balance the challenge of mapping supply network complexity against the need to understand cost and risk exposure
• The talent gap in supply chain leadership and why strategic thinking capabilities haven't kept pace with operational demands

Links:

• Tim Richardson on LinkedIn
• Supply Chain Forecast: Volatile with Tim Richardson
• Kelly Barner on LinkedIn
• Art of Supply LinkedIn newsletter 
• Art of Supply on AOP
• Subscribe to This Week in Procurement