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Supply chain resilience: capacity for resistance and recovery
Three Phases of Supply Chain Resilience are surviving the event, recovering from it and rebuilding when it’s over.
The characteristics of supply chain resilience describe an organization’s ability to with stand the event in terms of projected survival time .
Resilience categories can be described as “the 3Cs”: capacity, capability and competency.
How to build a more resilient supply chain
Identify vulnerabilities and redundancies in your supply chain
Talk to your supplier network and agree on expectations and metrics
Use buffers of "safety stock" to avoid shortages
Distribute physical inventory across multiple
Diversify your supply chain network
Scale right technology solutions to build foundation -Right technology allows you to visualize supply chain resilience using dashboards, you'll have access to real-time data that will enable you to perform a range of initiatives
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Answered by 1 member
A. Contracting with multiple suppliers
B. Entering a joint venture
C. Focusing on full and open competition
D. Focusing on supply continuity
Can you identify the best option and can say why it is so?
Answered by 2 members