Second, decision-based architecture

Formula 1 also follows this architecture, as their technology allows them to get real-time engine feedback from the cars during the race. The feedback from these technologies, combined with driver feedback, helps the team make the best race decisions in just a few seconds.

Flex Pulse is Flextronics’ software-based supply chain visualization tool that functions similarly to F1’s real-time engine feedback. Pulse also provides real-time visibility across purchasing, shipping, manufacturing, and inventory by aggregating and interpreting live streaming data from multiple sources. With the help of this architecture, Flextronics can gain insight into global variables that can affect or disrupt the supply chain and quickly develop contingency plans, crisis preparedness and response.

On race day or in the supply chain, no matter how well the plan is prepared, it can be disrupted or interrupted by other drivers or other variables. Therefore, the team must be prepared to improvise and keep an eye on the finish line. Effective tools, a better strategy and a world-class team to manage it are key factors in winning the game.

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While these tools provide important data, having the right team and people in place to properly analyze the data is key to making informed decisions. In addition, in the rare cases where data is unavailable or incomplete, a team with extensive experience can play a decisive role in a resilient race.

3. Team dynamics

Although it’s fun to watch, it’s important to know that F1 is a high-risk sport that comes with a lot of risks. When an F1 car is going over 200mph, it’s important that owners, mechanics and drivers can work together effectively and trust each other, as well as the supply chain.

Whether in F1 or in the supply chain, analytical capabilities are critical to navigating the latest tools and technologies driving our industry. Similarly, “learning” people, or those who are curious and keen to develop their skills, can be of great value in developing techniques and strategies. If the team consists of these strategic, multi-skilled people, it can help us to be in a better position to deal with various situations or unpredictable situations.

Just like F1 owners, maintainers and drivers, the new supply chain will require a higher level of collaboration between customers, operations and suppliers. Everyone in the supply chain plays a key role, but supply chain resilience depends on the level of trust and cooperation between teams.