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Supply chain resilience

A risk intelligent approach to managing global supply chains

The endless push to improve efficiency and reduce costs has created new kinds of supply chain risk and reduced the margin for error.

And thanks to social media and the Internet, when a company or one of its supply chain partners stumbles, the public often hears about it before the CEO does. These trends are redefining the concept of 'acceptable supply chain risk

Supply chain risk is on the rise. "Black swan" events that were once extremely rare now seem to be an almost everyday occurrence, not necessarily because the problems that trigger them are happening more often, but because globalization has greatly expanded their impact. Meanwhile, the endless push to improve efficiency and reduce costs has created new kinds of supply chain risk and reduced the margin for error. And thanks to social media and the Internet, when a company or one of its supply chain partners stumbles, the public often hears about it before the CEO does. These trends are redefining the concept of 'acceptable supply chain risk'.

In Supply Chain Resilience we outline a practical and proven approach for addressing these challenges. Given the scale and complexity of today's global supply chains, there is no way to predict and prepare for every possible risk. The best a company can do is build resilience into its supply chain – proactively addressing the critical vulnerabilities that expose the organization to risks that exceed its risk tolerance. A resilient supply chain is able to sidestep a wide range of risks and, perhaps even more important, can bounce back quickly when a problem occurs.

 

The concept of resilience is certainly not new; in fact, it is a quality many enterprises and supply chains have long aspired to. But turning the concept into reality can be a big challenge.

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Supply chain resilience

Supply chain resilience provides a framework for identifying and analyzing all forms of supply chain risk. It describes the key pillars of a resilient supply chain – visibility, flexibility, collaboration and control – and offers a five-step approach that can help companies make their supply chains more resilient. It also profiles a number of leading organizations that have put the concept into action.

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