There’s nothing in the lean and just-in-time supply chain methodologies that recommend keeping a bare minimum of parts on hand. In fact, they preach the opposite.
As the pandemic sent shockwaves through the global economy, the impact was felt across industries. Among the hardest hit sectors, the automotive industry experienced profound disruption, signaling the need for supply chain modernization.
When researching security frameworks, the alphabet soup that is SOC-1, SOC-2, HITRUST, ISO 27001, ISO 27701, ISO 22301, FedRAMP 3PAO, CMMC 3PAO, QSAC and CSA STAR may leave your head spinning.
The automotive industry has been severely hit by the current shortage of semiconductor chips. But the impact of the crisis extends beyond the manufacturing of cars — it’s also affecting the world of automotive insurance.