EPIC Global Supply Chain Risk Assessment
The Council of Supply Chain Management Professionals (CSCMP) is committed to both developing and arming supply chain professionals to be successful in their pursuit of excellence throughout their careers, as well as advancing our discipline and accomplishing CSCMP’s mission of a truly integrated, end-to-end supply chain. To that end, CSCMP has partnered with the University of Tennessee, Knoxville’s, Global Supply Chain Institute (GSCI) and IHS Markit to produce a tool that improves market intelligence, decision-making and risk mitigation efforts for supply chain professionals. The EPIC Global Supply Chain Readiness Index (EPIC) employs a data-driven approach that combines UT’s quantitative analysis with IHS Markit’s rich on-the-ground qualitative insights from more than 55 countries around the globe. This tool is designed to provide foundational and contemporary input to supply chain leaders to drive more informed decisions about how to best operate in these markets.
The EPIC Global Supply Chain Readiness Index 2020 report is built upon a book authored by a team of faculty from the University of Tennessee and ESSEC School of Management (Paris, France) entitled Global Supply Chains: Evaluating Regions on an An EPIC Framework. The EPIC framework originally introduced in the book provides a methodology and approach that enables firms to better assess different locations for global supply chain operations, including sourcing, manufacturing, and distribution. With data sets selected by UT and analysis provided by IHS Markit, the EPIC Report 2020 will update the previous work and give supply chain executive’s insight about the capabilities of supply chain globally.
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Global supply chains power the world. From the medicines we need, to the cars we drive, to that strange present your uncle gave you for your birthday. All of these products start with raw materials processed through an often-complex global supply chain until they reach the consumer. Regardless of how brilliant the product design, engineering, and marketing, the consumer will be disappointed if the supply chain is not able to deliver that brilliant product in good condition when and where it is needed. Supply chain professionals are the conductors of this globally dispersed orchestra of trucks, planes, trains, ships, and facilities allowing firms to deliver on their promise to customers. However, unlike a symphony orchestra, the supply chain conductor must deliver consistent results while the orchestra is constantly in flux.
Managing this constant change is all in a day’s work for supply chain professionals, but success doesn’t happen without thoughtful planning. Understanding the potential risks in your global supply chain requires knowledge of both industry changes as well as macroeconomic, political, and social issues.