Build resilience into your supply chain
How to apply past learnings from business disruptions to the COVID-19 situation
The article was originally authored by Laurence Mets and Rune Asbjørn Antonsen.
The development of COVID-19 and its impact on global business has highlighted the vulnerability of supply chains to rapid disruptions. Many companies are struggling with both changed demand patterns and disrupted supply situations, as the effects of the virus outbreak extend further than anticipated.
We simply don’t know or understand the full impact of COVID-19 on our businesses, and we can’t predict what is in store for the future. But we can reflect and learn from the past. We’ve gathered three actions to ensure resilience in supply chains in the face of a crisis: understanding the demand and supply risk, mapping changes and effect on supply chain nodes, and identifying expecting changes and mitigating risk. Each action point is back up with lessons learnt from previous supply chain disruptions.
- Understand the demand and supply risk
- Map the changes and effect on supply chain nodes
- Identify expected changes and mitigate these risks
Explore how you can build resilience into your supply chain here: https://implementconsultinggroup.com/article/build-resilience-into-your-supply-chain/
