BrillDog, announces that in an age of increasing supply chain disruptions from natural disasters, geopolitical issues, and socioeconomic challenges, the recent earthquake in Turkey is a reminder of why businesses must have alternative sources and suppliers of raw materials and products.
“Most small to medium-sized businesses have a single source for supplies and raw materials, which can mean their supply chains can be shut down by unexpected events and the loss of a supplier,” says Sam Polakoff, CEO and Founder, BrillDog. “Having a flexible supply chain with multiple suppliers allows companies to weather any threats."
Sources report significant damage to logistics and transport infrastructure from the earthquake that struck Turkey and Syria on Monday. The port of Iskenderun on the Mediterranean coast has suffered severe structural damage leading global shipping company Maersk to stop all operations in the area. The port handles cargo of fertilizer, corn, wheat, bran, soybeans, iron, polyester fibers, soda ash, and more.
In the paper, Supply Chain Disruptions, Evidence from the Great East Japan Earthquake, the author shows how a natural disaster will cascade through supply chains, resulting in a 3.6 percent decline in the growth rate of firms with affected suppliers.
Supply chain interruptions can occur all along the supply chain: ill-advised sole source strategies; failure to monitor provider performance; lack of timely event monitoring and reporting; lack of backup manufacturing, storage, and transportation capacity; and inadequate inventory visibility. The BrillDog Supply Chain Management System (SCMS) provides real-time, cloud-based supply chain analysis, management, and actionable insights for SMBs, helping them improve efficiencies, save costs, and transform business outcomes.
Soon BrillDog will introduce a Product Marketplace Manager function that will connect businesses to alternate sources, providing tier 1, 2, and 3 options. BrillDog will recruit new vendors within relevant verticals to its clients and encourage current customers to load all their suppliers into the platform. BrillDog users will get a side-by-side comparison of suppliers with quality metrics and reviews, helping users to select the suppliers they want to work with.
"Having multiple supply sources eliminates the bottlenecks that can occur when a supplier can't deliver a product due to issues like an earthquake or other disruption," adds Polakoff.