Supply Chain Disruption
The COVID-19 pandemic has disrupted supply chains across the world leading to global business challenges and forcing organizations to reassess their supply chain models. Jennifer Flake, Executive Director of Communications for Global Operations at Ford Motor Company, joined us for a Think Thursday to discuss the pandemic’s effect on supply chains, lessons learned and how organizations can prepare for the future. Here are some key takeaways.
- Transparency during disruption is key. Jennifer expressed the importance of being open and honest with stakeholders – from employees, suppliers and dealers to Capital Markets – about the volatility of the issue and advised to provide as much information as possible in order to manage expectations over time.
- Communicating across all levels is crucial. Ford had to ensure everyone was informed from the board down to the shop floor to the consumers. The company held weekly global town halls and special daily updates when needed to ensure stakeholders were consistently updated and aware of what was happening.
- Supply chain disruption, which started during the recession and spiked in new ways during the pandemic, has had lasting long-term effects on business. It has completely transformed how organizations need to engage with suppliers moving forward and forced organizations to rethink their overall supply chain management and associated communications support.