The White House is studying whether supply chains for key industries should be stress tested due to semiconductor shortages impacting the auto industry. Stress tests could include hypothetical scenarios and whether to stockpile certain critical items.
While many auto producers have been impacted by the lack of available chips, Toyota Motor Corporation has not. After the global financial crisis, Toyota assessed its supply chain. For each part deemed critical, Toyota secured 4-6 months of stock as needed. The Pentagon has conducted similar reviews. In 2018, after Turkey bought weapons from Russia, they developed plans to remove Turkey as a supplier for the F-35 fighter. They also identified which parts could be in short supply if similar geopolitical situations or disasters occurred.
MOSIMTEC’s supply chain modelling and simulation services are a great way to stress test supply chains in a safe environment. Test each tier in your supply chain virtually to identify potential risks. Explore ways to prevent/mitigate those risks. Evaluate options, backup plans, alternative suppliers, substitutes and more in a sandbox environment before making real world changes. Develop plans to tackle supply chain problems when they emerge, fester or spin out of control.
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For more information visit: https://www.cnbc.com/2021/04/01/white-house-studying-supply-chain-stress-tests-after-semiconductor-shortages-sources-say-.html