In today’s volatile manufacturing landscape, disruptions are inevitable. Supplier shutdowns, quality issues, geopolitical risks — all can force companies to re-source production at a moment’s notice.
The challenge? Moving fast without missing critical delivery deadlines & juggling current production runs.
Here are three proven strategies to quickly re-source production without derailing your timelines on current production:
1. Build and Maintain a Pre-Qualified Supplier Bench
The time to find backup suppliers isn’t when disaster strikes — it’s long before. Proactively building a “bench” of pre-qualified suppliers ensures ready alternatives when the need arises.
Vet suppliers for:
Technical capabilities and certifications
Lead times and capacity flexibility
Pricing competitiveness
Financial stability, performance
With these relationships in place, you can pivot production in days, not months. Digital supplier management & discovery platforms make it easier to keep approved supplier lists up to date.
2. Run Periodic Global Price Benchmarking Studies
The more customized your parts and processes, the harder it will be to re-source quickly. This makes periodic supplier cost benchmarking studies a very valuable exercise to engage with capable potential suppliers.
Benefits of benchmarking studies:
Discovering qualified suppliers for specific categories
Understanding costs by manufacturing processes
Comparing costs across different geographical regions
For each of these, the benchmarking study allows you to gather a lot of supplier feedback, which will be across a spectrum whether it’s pricing, quality standards, or delivery performance.
The biggest benefit for procurement teams can be understanding where you can optimize costs & which opportunities to go after for cost reductions.
3. Leverage Technology to Accelerate Supplier Matching
Manual sourcing processes are too slow for today’s disruptions. Excel worksheets & emails that go back and forth for weeks at a time.
Modern sourcing platforms use AI and real-time databases to match buyers with qualified manufacturers quickly, turning this process from weeks to hours.
Technology helps you accelerate:
Identifying qualified suppliers for your project
Vetting supplier capabilities against your specs
This ensures that you quickly get the right supplier without wasting time on going through multiple different websites, evaluating capabilities, company presentations & more.
Speed and precision in supplier discovery reduce downtime and help you hit production targets.
By maintaining a strong supplier bench, running periodic global cost benchmarking studies and embracing technology-driven sourcing tools to accelerate supplier discovery, manufacturers can re-source projects swiftly & stay on schedule.
At MESH Works, we help manufacturers accelerate sourcing and build resilient supply chains. Our platform connects you with pre-vetted suppliers worldwide, streamlining the re-sourcing process when speed matters most. Ready to strengthen your sourcing strategy? Learn how MESH Works can help.
