How fast can a virus destroy a supply chain?
Supply chain news outlets are abuzz with stories on how the Coronavirus is wreaking havoc on name-brand companies the world over. The article below is a great read on how interdependencies in supply chain create fragility. "A complex international supply chain is fragile precisely for the same reasons it is valuable — namely, it is hard to construct and maintain because it involves so many interdependencies."
It's paramount that you incorporate best practice supply chain risk management strategies into your business plan. Crucial to that plan is your ability to forecast, and contingency plan in advance of, any sort of event(s) that may impact your business.
Supplier risk assessment analysis is perhaps one of the most overlooked (yet most needed) elements of supply chain risk management. Avercast can help.