Despite the best prevention, though, disruptions still happen. But businesses can plan ahead to be ready for potential situations. For example, some stores in areas prone to severe weather ensure they have generators in preparation for such events. “Build your resilience and work with your supply chain partners so that when you are in need, they can stand with you,” Koufteros advised. “Preparation also determines how quickly you can restore operations after damages. Some companies handle damages better than others because they plan for it, train for it and have a chain of command to respond to the crisis.”
The work doesn’t end when a disruption has passed, however. Companies should then focus on retaining knowledge of the event and what they learned and develop a system to pass that information to future generations of managers.
Though the short-term future of current supply chain disruptions is uncertain, Koufteros believes inflation and unemployment will continue to impact the process for the next several months. In the long-term, however, things will eventually begin to return to normal. “We go through cycles, and this is just another cycle,” Koufteros observed. “Not all companies learn from their mistakes, but most do and can use that knowledge for future resilience.”
Consortium Connections
Koufteros also offers resources to help companies with their supply chain health through Mays Business School’s Supply Chain Consortium. Part of Mays Business School’s supply chain management program, the consortium connects businesses with future supply chain talent. The consortium currently has 15 company members—including Applied Materials, Bechtel, Chevron, Chevron Phillips, Conoco Phillips, Dell, Expeditors, Goodman/Daikin, H-E-B, Lockheed Martin, Lyondell, PepsiCo, Pioneer Natural Resources, Shell, and Tyson Foods—who interact with students in the program throughout the semester. “We offer multiple touchpoints, and companies can take part in a selection of events or all of them,” Koufteros explained. “Many choose to participate through high-level executives.”
